Hon Simon Watts
Minister of Climate Change
Responsible and effective climate related initiatives that support New Zealand to reduce emissions, and adapt to the
future effects of climate change are a priority, Climate Change Minister Simon Watts says.
“Our Government is committed to meeting emission reduction targets, including the overall goal of carbon net-zero by
2050, while continuing to prepare New Zealand for the more frequent severe weather events that climate change will
bring.
“Budget 2024 makes new investments in support of these goals, including funding specific climate resilience projects
like stop banks and floodwalls through the Regional Infrastructure Fund, a $200 million boost for the Rail Network
Improvement Programme, and extending the reach of the Waste Disposal Levy to support a wider range of waste related and
environmental activities.
“The Budget also confirms our decision to discontinue the practice of ring-fencing revenue raised through the Emissions
Trading Scheme (ETS) in a ‘Climate Emergency Response Fund’. Instead, future investment proposals for emission-reduction
or climate-adaptation will be considered through the usual Budget process.
“The Government can also confirm that around $2.6 billion of high-value climate change initiatives previously funded
from the CERF will continue. These include:a public network of electric vehicle charging infrastructurea grant scheme for clean heavy vehiclesa fund for decarbonising the public transport fleet, supporting local authorities to purchase electric bussespublic transport concessions for community service card holdersdevelopment of an on-farm emission measurement schemesupporting New Zealand’s International Climate Finance Commitmentthe Warmer Kiwi Homes programme.
“New Zealand remains on track to meet our emissions reduction goals in Emission Reduction Plan period one and the
Government will soon be consulting on the second Emissions Plan, for the period 2026-2030. This will form the basis of
the Government’s plan to reduce New Zealand’s emissions in line with our targets.
“The ETS is a critical tool to helping us achieve our targets and will be front in centre in our emissions reduction
plans.
“Budget 2024 provides the foundation for us to reduce our emissions and increase our resilience, while ensuring that our
response is providing value to hardworking Kiwis,” Simon Watts says.