New Zealand has unveiled its second emissions reduction plan, capping greenhouse gas emissions at 305 million tonnes of CO2 equivalent (tCO2e) for 2026-2030. The government is confident the country remains on track to meet its 2050 net-zero target, despite narrowly missing earlier goals.
Landscape view of a New Zealand wind farm, highlighting the country's renewable energy expansion. AI generated picture.
The Ministry for the Environment confirmed that New Zealand's emissions are projected to fall short of the 2022-2025 target by 5.9 million tCO2e and the 2026-2030 target by 1.9 million tCO2e. The Climate Change Response Act outlines a 2050 net-zero goal for all greenhouse gases except biogenic methane, which has its own reduction targets: 10% below 2017 levels by 2030 and 24-47% by 2050.
The updated plan incorporates eight high-impact policies, including renewable energy expansion, 10,000 EV charging points by 2030, and agricultural emissions pricing. Additional measures include carbon capture initiatives, improved waste management, and afforestation on Crown-owned land. Collectively, these efforts are expected to cut 3.2 million tCO2e by 2026 and 17.1 million tCO2e by 2030.
The plan also emphasises reforming the Emissions Trading Scheme (ETS). Changes include stabilising market governance, enhancing transparency, and aligning the ETS cap with the emissions budget. Notably, the government has halved carbon credit availability for 2025-2029, aiming to bolster the ETS's credibility and drive private-sector investment.
Matthew Cowie of EY New Zealand praised the government's commitment to avoid differentiating forestry credits, which he noted could anchor ETS prices to forestry supply costs.
Public consultation on the next Nationally Determined Contribution for 2031-2035 recently concluded, setting the stage for further environmental action under the Paris Agreement.
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At DGB, we are committed to helping businesses and individuals take impactful actions to reduce their carbon footprints and contribute to a sustainable future. As New Zealand demonstrates ambitious efforts to tackle emissions through renewable energy, waste management, and afforestation, we align with similar goals through our nature-based solutions. From large-scale reforestation and afforestation projects to innovative initiatives like energy-efficient cookstoves, we focus on restoring ecosystems, boosting biodiversity, and creating sustainable livelihoods for local communities. Together, these efforts offer a practical and effective pathway to address global environmental challenges while fostering socio-economic growth.
