The Parliament of New Zealand has adopted a law aiming to cut CO2 emissions to net zero by 2050, making the new 2050 greenhouse gas (GHG) reduction target legally binding. The government had approved a law to make New Zealand carbon neutral by 2050, except for GHG emissions of the agricultural sector. According to the bill, methane emissions from animals will have a different treatment, but will still have to reduce by 10% by 2030 and by up to 47% by 2050. The bill also established a Climate Change Commission in charge of elaborating a roadmap and plan to be updated every five years.
In its Nationally Determined Contribution (NDC) submitted in 2016, New Zealand committed to reduce its GHG emissions to 30% by 2030, compared to its 2005 levels. In 2018, emissions without Land Use, Land-Use Change and Forestry (LULUCF) reached 34.9 MtCO2. Over 30% of the country's emissions come from biological methane from livestock which is only submitted to a 10% reduction pledge by 2024.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.