New Zealand is facing serious challenges in achieving its 2050 climate targets. An independent report from the Climate Change Commission highlights that, while progress has been made, urgent action is needed.
The report mentioned that New Zealand is on track to meet its first emissions budget, covering 2022 to 2025, partly due to new ways of measuring emissions. However, risks are increasing for targets beyond 2025, and current government plans are falling short.
One major concern is the instability around carbon capture and storage in the gas sector. The commission’s chief executive, Jo Hendy, noted that while current policies seem fine for now, risks loom larger post-2025. Projects take time to kick off; for example, a new electric furnace at NZ Steel took three years to implement.
As of now, real emissions have dropped steadily from 2019 to 2023, reaching their lowest level since 1999. However, electricity generation saw an uptick due to more fossil fuels being burned. On a positive note, there’s more renewable energy being generated, which is crucial for future reductions. Hendy emphasizes the need to maintain this momentum.
To achieve these goals, the commission advocates for strengthening the Emissions Trading Scheme (ETS) and boosting investments in renewable energy and low-emission transport. Additionally, it suggests reconsidering the subsidies given to large emitters.
There’s a growing concern about the costs of missing targets. Falling short could lead to higher expenses, economic losses, and disruptions for communities. Many households are struggling, and there are opportunities to help them by capitalizing on falling prices in solar energy and electric vehicles.
The report also pointed to advancements in methane-reducing technologies for farmers, which could soon be available. However, the government must not lose focus; recent actions, like introducing road user charges for electric vehicles and re-opening oil and gas exploration, pose risks.
In summary, while New Zealand has made strides, there’s a significant need for proactive measures to meet future climate goals. The commission stresses that current policies will not suffice, urging immediate action to steer back on course. For more on New Zealand’s climate targets and strategies, you can visit Radio New Zealand.
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