The Low-emissions economy draft report released today by the New Zealand Productivity Commission supports work the Government already has underway to transition to a low-emission economy by 2050.
The Productivity Commission’s draft report clearly shows it’s possible for New Zealand to transition to a low-emissions economy but that it will require major changes in order to reap the rewards.
Some of the recommendations made in the Productivity Commission’s draft report are already underway such as:
- setting an ambitious long-term target for emissions reductions and putting that target into legislation in the Zero Carbon Act
- establishing a Climate Change Commission
- reforming the New Zealand Emissions Trading Scheme (ETS)
- considering bringing agriculture into the ETS
- considering options for disclosure of climate-related financial risks
- considerations are underway on how emissions reduction can be factored into transport funding decisions, through the proposed new Government Policy Statement.
This report is extremely useful to help build the framework that will see New Zealand reach a net zero emissions goal by 2050. It includes strong, practical advice and evidence to ensure an effective transition.
It adds to a growing body of information we have to work with; including the Coastal Hazards Guidance for local government and the Climate Change Adaptation Technical Working Group, which, in the next few weeks, is due to release its latest report on options for adapting to the risks and impacts of climate change.
This information will help New Zealanders shape their input into the upcoming consultation around what our Zero Carbon legislation should look like. Sign-up to stay informed on the consultation.