Productivity Commission inquiry into low carbon economy commences

Climate Change Minister Paula Bennett and Finance Minister Steven Joyce have welcomed the release of the Productivity Commission’s issues paper for the inquiry into how New Zealand can maximise the opportunities and minimise the costs and risks of transitioning to a lower carbon economy.

“New Zealand has set ambitious targets to reduce our emissions through the 2030 Paris Agreement Target,” Mrs Bennett says. “Although we’re a small player, we’re globally connected and trade-dependent. This inquiry will help us to meet our targets to 2030 and then look beyond that to address long-term climate change effects.”

“This is an important piece of work that will guide us all on how to maximise the benefits and minimise the costs of a lower emissions economy,” Mr Joyce says.  “It’s crucial for New Zealand’s future that we make policy decisions informed by economic analysis so we achieve our climate goals while maintaining and lifting the prosperity of kiwi families at the same time.”

“A big focus of our response will be harnessing the benefits of some rapid technological advances our scientists are making.  The Productivity Commission will look at how New Zealand’s regulatory, technological, financial and institutional systems, processes and practices can help to encourage adoption of these new technologies,” says Mr Joyce.

The low-emissions economy issues paper is available HERE.

The closing date for submissions is 2 October 2017.