Climate

New Zealand has emissions reductions targets – supported by the framework in the Zero Carbon Act – including to:

• reduce net emissions of all greenhouse gases (except biogenic methane) to zero by 2050
• reduce emissions of biogenic methane to 24–47 per cent below 2017 levels by 2050, including to 10 per cent below 2017 levels by 2030

The Climate Change Response (Zero Carbon) Amendment Bill was passed in Parliament in early November 2019, it mandates a phase-down of all industrial allocations from 2021 (this is relevant for greenhouse growers who have free allocation in the ETS) and gives effect to decisions to price agricultural livestock emissions at farm level, and from 2025, fertiliser emissions at processor level.