The Government has a goal to transform Aotearoa New Zealand’s economy into a more productive, sustainable and inclusive economy, that improves the well-being and living standards of all New Zealanders. The Government aims to achieve a net zero carbon economy by 2050, a 2030 emission reduction target under the Paris Agreement, which Government projections show that New Zealand is on track to overshoot by about 200 Mt CO2-e, and an aspirational goal of 100 per cent renewable electricity by 2035.
The Government recognises the importance of ensuring this transition is just and inclusive today, and for future generations.
To achieve these goals, the Government’s Renewable Energy Strategy has a range of work programmes underway. We are bringing two of these together – accelerating renewable electricity and lowering emissions from process heat – in this discussion document. This will provide greater coherence and joined-up thinking on policies to reduce energy-related emissions and ensure we take into account security of supply and affordability impacts for our energy system.
The options represent a comprehensive policy package for the energy transition. They are intended to be complementary to the New Zealand Emissions Trading Scheme (NZ-ETS), and work alongside initiatives in the Climate Change, Economic Development, and Research, Science and Innovation portfolios, and the Just Transitions work programme.