Climate change response will become a reality for many New Zealand businesses in 2020, as an array of legislative changes sheds more light on what a lower-carbon economy will mean for their own operations.
Globally, concern around climate change is gathering momentum, with an increasing impetus to understand and report on climate risk and adaptation plans, and growing focus on what might be needed to transition economies. In New Zealand, the passing of the Zero Carbon Bill in November laid the foundation for a transformation of New Zealand’s climate change landscape. It provides greater certainty for policy and investment decision-makers alike, with crossparty support to achieve net zero emissions by 2050.
Achieving net zero by 2050 requires economywide action. The government’s challenge will be in how it determines and implements cohesive and coordinated regulatory and policy settings across a number of sectors in time to give business sufficient certainty for investment and transformation planning. The challenge is not a small one, with a number of constraints to be navigated. But the drive to decarbonise, while maintaining economic productivity, also presents significant commercial opportunities.
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This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.