The public and private sectors face important strategic decisions about low-emissions transitional pathways. Such decisions require sound evidence, with input from experts and stakeholders across the board. Models can be used for evidence-based decision-making, but New Zealand has shortcomings in its capacity for climate policy analysis, particularly in comparison with other jurisdictions. These deficiencies pose a serious risk to New Zealand’s future economic development. Climate policy analysis requires assessing a wide range of factors. A multi-model approach supported by multiple providers improves consistency, coordination, and collaboration across members of the modelling community, users of modelling results, and funders of modelling. This document summarises the compelling case for developing a New Zealand ‘Climate Policy Modelling Initiative’ (CPMI). This initiative would coordinate and enhance delivery of modelling across multiple providers. This work is informed by several workshops that brought together economic modellers from a range of organisations. If supported by government leadership and commitment, the CPMI would have a transformational effect on New Zealand’s capacity to plan for a successful low-emissions future.