June 09, 2021
Climate change delay would be costly
The Climate Change Commission says the economic costs of delaying action are higher than taking action now.
The commission today released its blueprint for addressing climate change.
It says the Government has made good progress to reduce emissions, but a step up is now required.
Meeting climate targets is achievable and affordable with existing technology.
Prime Minister Jacinda Ardern says the transition to a low emissions future for will create jobs and new opportunities for New Zealand businesses, help reduce household energy bills, and secure the country’s recovery from COVID-19.
Not taking action now will cost 2.3 percent of GDP by 2050, almost double the cost to the economy of acting now.
The Government will publish an Emissions Reduction Plan before the end of the year.
In response to feedback on its draft plan, the commission said the transition to a low-emissions society in Aotearoa must be equitable for tangata whenua.
Central and local government must ensure emissions reduction plans comply with the Treaty and do not compound historic grievances and further disadvantage Iwi/Māori.
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