Close Menu
  • Home
  • About
  • News
  • Awards
  • Media & Press
  • Video Podcasts
  • Magazines
  • Events
  • Contact
Facebook X (Twitter) Instagram
Gazet International – Global Magazine
AWARD NOMINATION
  • Home
  • About
  • News
  • Awards
  • Media & Press
  • Video Podcasts
  • Magazines
  • Events
  • Contact
You are at:Home » New Zealand drops green policies to boost the economy
World

New Zealand drops green policies to boost the economy

Gazet InternationalBy Gazet InternationalAugust 5, 2024Updated:January 27, 20253 Mins Read
Facebook Twitter LinkedIn
Share
Facebook Twitter LinkedIn

New Zealand’s green credentials are at risk as the government rolls back environmental reforms to boost the economy.

New Zealand

Since taking power, Prime Minister Luxon’s coalition will reverse the oil and gas ban, delay agricultural emissions pricing, and boost mining.

This government shift aims to boost exports, addressing a 0.3% growth for the year to March 2024 and a 6.8% GDP deficit.

Exports account for almost a quarter of New Zealand’s economy.

“The economic situation for me, is arguably the worst of the set of circumstances that I can remember in my adult life,” Resources Minister Shane Jones said.

“So when the opportunity arose to champion the re-emergence of the mineral sector it was driven by quite a brutal understanding of what our economic situation is,” he added.

The agricultural sector, including fishing, contributes 5% to the economy and 80% of exports. However, farmers argue that reversing environmental policies would make dairy and meat production costly.

While farmers and companies have praised the changes, environmentalists criticize the coalition for its perceived shortsighted policies.

“They are not looking at both sides of the ledger here, and the economic impacts of wrecking the joint for a few quick bucks for the government of this day, and therefore putting at risk the prosperity of future generations of New Zealanders,” said Nicola Toki, chief executive of environmental organization Forest and Bird.

Last week, Air New Zealand dropped its 2030 emissions target due to aircraft delays and costly green fuel; the Green Party is concerned.

Last week, the government Climate Commission report highlighted major risks for New Zealand’s 2030 and 2035 emission and methane reduction targets.

Any shortfall in targets will require increased offshore mitigation, with costs potentially reaching NZ$23.5 billion ($14 billion), as forecasted.

Balancing Emission Targets with Economic Growth

The government is working on a climate change plan, focusing on tree planting, boosting renewable energy, and investing in emissions-reducing technology.

Climate Minister Simon Watts said the government expects to meet the 2030 target; however, more work is needed for 2035.

“The Government is committed to meeting our climate change targets, but the way in which we do this will be different to former New Zealand Governments,” he said. “This Government is using a least-cost approach to meet our climate targets. We will not shut down sectors that are boosting our economy and exports.”

Environmentalists, however, say this is not enough.

Sara Walton, co-director of the University of Otago Climate Change Research Network, warned of New Zealand’s reputational and financial risks for missing targets.

“It’s more important than ever for companies to be reducing their emissions in order to remain competitive internationally in terms of supply chains,” said Walton.

Sara Walton, co-director of the University of Otago Climate Change Research Network, warned of New Zealand’s reputational and financial risks for missing targets.

Agricultural emissions will continue to be taxed from 2030; however, rules for protecting significant natural areas to support biodiversity are suspended.

Other areas targeted by the government include energy and natural resources.

It will reinstate oil and gas exploration, previously banned by Jacinda Ardern in 2018, to reduce coal imports and lower energy prices.

The government aims to double mineral exports to NZ$2 billion in 10 years and has announced a resource stocktake.

It also proposes a fast-track process, enabling mines to bypass current consents with ministerial approval.

Cindy Baxter, chair of Kiwis against Seabed Mining, fears this could enable a controversial project on New Zealand’s west coast.

“It’s a beautiful piece of ocean with reefs and sea life… which could be absolutely destroyed by seabed mining,” Baxter said.

Click here for more World news.

Source
#GAZETINTERNATIONAL #GI #GIAWARDS #government #NEWZEALAND #policies
Share. Facebook Twitter LinkedIn
Previous ArticleDollar drops as US rate cut bets increase; meanwhile, yen surges
Next Article stc Group Signs Strategic Partnership with Nexthink

Related Posts

CYSEC MENA 2025: Bahrain Set to Host 15th Global Edition of Premier Cybersecurity Summit

May 7, 2025

Driving Innovation and Integrity: AIMCS & ICA AFRICA 2025 Wraps Up with Remarkable Impact

May 6, 2025

Hugo Boss beats Q1 revenue expectations

May 6, 2025
  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • LinkedIn
Don't Miss

Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​

Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market

Innovations Showcased at Airport Show to Enhance Digital Transformation

DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​

Recent Posts
  • Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​
  • Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market
  • Innovations Showcased at Airport Show to Enhance Digital Transformation
  • DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​
  • PayU Appoints Digital Payments Veteran Shailesh Paul as the New CEO of Wibmo​
Recent Comments
    Archives
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • October 2023
    • September 2023
    • January 2021
    Categories
    • Banking
    • Blog
    • Business
    • Corporate
    • Editor's Column
    • Events
    • Executive Spotlight
    • Finance and Investing
    • Lifestyle
    • magazine
    • podcast
    • Press Release
    • Technology
    • World
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    About

    GAZET INTERNATIONAL


    Gazet International Magazine is a global entity that works towards providing latest information and news updates of the world. It entraps latest stories in banking, finance, lifestyle and various beats of the world. We engage in recognizing and rewarding the global organizations for their achievements in various fields and deliver justice to the nominees with valued identification and recognition of companies that indulge in the Gazet Award Ceremony.

    Facebook X (Twitter) Instagram YouTube LinkedIn
    Categories
    • Banking
    • Blog
    • Business
    • Corporate
    • Editor's Column
    • Events
    • Executive Spotlight
    • Finance and Investing
    • Lifestyle
    • magazine
    • podcast
    • Press Release
    • Technology
    • World
    Latest posts

    Mobile Global Deepens Executive Team, Appoints Digital Media Veteran Dominick Miserandino as Chief Marketing Officer​

    May 8, 2025
    Press Release

    Crompton Partners Unveils First-of-its-kind Report Tracking Abu Dhabi’s Off-Plan Property Secondary Market

    May 8, 2025
    Press Release

    Innovations Showcased at Airport Show to Enhance Digital Transformation

    May 8, 2025
    Press Release

    DIVINE in the Spotlight: Parimatch Hosts Exclusive Meet & Greet with Indian Rap Icon​

    May 8, 2025
    1 2 3 … 712 Next
    Official Partner

    7ITS NEWS

    Copyright © 2025. Gazet International

    Type above and press Enter to search. Press Esc to cancel.