Collective Effort Required To Achieve Emissions Reductions Plan Objectives

Today’s release of the Government’s Emissions Reduction Plan marks a vitally important step towards decarbonising the economy. It sends important signals for where our collective efforts will need to be invested, and what actions the government will take to encourage and coordinate that activity.

It helps build confidence that New Zealand has a realistic plan to transition to a low carbon economy. The challenges remain very significant to achieve net zero emissions, but they are not insurmountable. It will require a collective effort involving all sectors, government and Kiwis to manage a transition that genuinely achieves the emissions reductions whilst ensuring that it is fair and equitable.

All Kiwis should have equitable access to low carbon transportation and lifestyle options. Public and private sectors must work together to best address the challenges of affordability and access. We’re ready to help with that.

From an electricity standpoint, there is much to be confident about. Our electricity is already low emissions and our renewability is growing, with our total electricity supply expected to over 90% renewable in the next 3-5 years.

The sector has an outstanding renewable generation pipeline to meet anticipated growth in demand. This includes our own Turitea wind farm in the Manawatū which will be New Zealand’s largest wind farm, with enough generation to power approximately 375,000 EVs.

We are in a great place to support other sectors like transportation and industry in their own decarbonisation efforts.

Turitea shows what can be achieved when the sector is able to respond to clear and consistent signals. We’re looking forward to doing our part to help lead New Zealand’s transition to a zero emissions future.

Vince Hawksworth, Mercury Chief Executive

ENDS

For media queries, please contact:

Shannon Goldstone, Head of Communications

027 210 5337

media@mercury.co.nz

ABOUT MERCURY NZ LIMITED

We generate electricity from 100% renewable sources – hydro, geothermal and wind. We also sell electricity to our customers through our retail brands – Mercury, Trustpower and GLOBUG.

We’re listed on the New Zealand Stock Exchange and the Australian Stock Exchange with foreign exempt listed status. We’re listed on both exchanges with the ticker symbol ‘MCY’. The New Zealand Government (the Crown) holds a legislated 51% shareholding in the Company.

Visit us at: www.mercury.co.nz

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