Articles tagged with Ets

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New Zealand Climate Change Minister Unveils Carbon Removals Framework and Legislative Enhancements

Climate Change Minister Simon Watts introduced a new Assessment Framework for Carbon Removals in New Zealand, aiming to recognize and reward non-forestry carbon removals and support landholders and businesses. The framework aligns with the Government's commitment to climate action that stimulates the economy and promotes emissions reductions, fulfilling an election promise to explore biodiversity credits for initiatives like creating wetlands. Changes to the Climate Change Response Act will streamline processes, improve the NZ ETS, expand opportunities for carbon removal recognition, and reduce compliance costs for stakeholders, with an amendment bill planned for next year.

New Zealand, Singapore, and Chile Launch Green Economy Partnership Agreement in Korea

Prime Minister Christopher Luxon and Minister for Trade and Investment Todd McClay, along with their Singaporean and Chilean counterparts, launched negotiations for the Green Economy Partnership Agreement (GEPA) in the Republic of Korea. The agreement aims to boost trade and investment opportunities in the global green economy, estimated to reach US$11 trillion by 2040, by focusing on areas such as sustainable finance, green goods and services, and low emissions fuel alternatives. The negotiations, set to continue until 2026, follow the signing of a Comprehensive Strategic Partnership with Singapore and underline New Zealand's commitment to meeting climate targets and fostering a greener economy through international collaboration.

State of Local Emergency Declared in Southland Region by Minister Mark Mitchell

Minister Mark Mitchell declared a state of local emergency in Southland due to potential impacts from power outages following a significant weather event, as the Southland Mayors have not been sworn in after local elections. This declaration grants local Civil Defence emergency powers to respond and support services, urging residents to prioritize safety, follow instructions, and stay informed about weather updates. The state of local emergency in Canterbury continues, with the Minister empowered to declare such emergencies when local representatives are unavailable due to election procedures.

Canterbury Region Declares State of Emergency Due to Severe Weather

Minister Mark Mitchell has declared a state of local emergency for Canterbury due to severe weather, as the mayors have not been sworn in after recent elections. The declaration grants local Civil Defence emergency powers to respond effectively. Mitchell urges residents to heed advice from local authorities, prioritize safety, and stay informed through official channels like MetService.

New Zealand Government Eases Climate Reporting Burden for Businesses to Boost Market Growth

Commerce and Consumer Affairs Minister Scott Simpson announces changes to support business growth and capital markets in New Zealand. The Government is adjusting climate reporting regulations to reduce costs and encourage listings on the NZX. Changes include raising the reporting threshold, adjusting liability settings, and excluding managed investment schemes. These adjustments aim to ensure robust reporting, maintain market competitiveness, and provide clearer information on investments for KiwiSaver and managed funds.

AgriZeroNZ Welcomes New Leaders to Drive On-Farm Emissions Reduction Efforts

Experienced agribusiness leaders Simon Limmer and Murray Dyer have been appointed to the AgriZeroNZ board by Agriculture Minister Todd McClay for three-year terms. They will join the existing board chaired by Rob Hewett to drive the adoption of new tools for reducing on-farm emissions. AgriZeroNZ, a public-private joint venture, has already invested in 14 ventures and research projects, with plans to make up to 11 mitigation tools available by 2030 to help Kiwi farmers reduce emissions while maintaining productivity and meeting climate obligations.

Andrew Wilson Joins Board of Guardians of NZ Super Fund

Andrew Wilson, a former investment banker with extensive experience in global markets, has been appointed to the Board of the Guardians of New Zealand Superannuation, overseeing the $85 billion Superannuation Fund. Prior to this role, Wilson held key positions at institutions like the Reserve Bank of New Zealand, Bank of England, and Goldman Sachs Asset Management. Acting Finance Minister Chris Bishop highlighted Wilson's valuable expertise in investment management and global markets, emphasizing his potential to make a significant impact on the Guardians' work. Wilson's official appointment to the Board is scheduled to commence on 20 October.

Empowering Northland Job Seekers: Ministry for Social Development Partners with Local Businesses for Employment Success

The Ministry for Social Development in Northland is partnering with local businesses to help job seekers find employment, with successful examples like Fulton Hogan training and employing 44 MSD clients. Minister Louise Upston highlights the success of businesses like Fulton Hogan in placing job seekers in Northland. MSD is focusing on understanding businesses to connect local job seekers with suitable opportunities, aiming to address workforce challenges through collaborative efforts with employers.

New Zealand Government Initiates Breakthrough Measures to Boost Supermarket Competition

The Government plans urgent legislative and policy changes to remove barriers for competitor supermarkets in New Zealand, aiming to boost competition and offer better deals for consumers. These changes include fast-track approvals for new supermarkets, streamlining building consent processes, and amending regulations to combat predatory pricing. The initiative aims to encourage new domestic competitors and potential international retailers like Costco to expand in New Zealand, with further considerations on potentially restructuring major supermarket players Foodstuffs and Woolworths to enhance market competition.

New Clean Vehicle Standard Updates Promise More Affordable and Fuel-Efficient Cars for Kiwis

The Government is updating the Clean Vehicle Standard to provide importers with greater flexibility in meeting CO2 targets and ensuring access to more fuel-efficient and affordable vehicles for New Zealanders. Changes include allowing credit transfers between importers, extending credit lifespan, and setting targets not based on vehicle weight. These improvements aim to reduce costs passed on to consumers, support importers in bringing in more fuel-efficient vehicles, and are part of the Land Transport (Clean Vehicle Standard) Amendment Bill (No 2).

Health New Zealand's Strategic Plan for Improved Health Outcomes 2024-2027

Health New Zealand presented the New Zealand Health Plan to Parliament, as required by the Pae Ora (Healthy Futures) Act 2022. The plan outlines how Health New Zealand will address the Government's health priorities from 2024 to 2027, focusing on improving health outcomes and access to care. It includes targets for faster cancer treatment, improved mental health services, reducing wait times, and enhancing the health workforce, with a clear emphasis on accountability and transparency for tracking progress.

Government Raises Probate Threshold to $40,000 for Faster Asset Access | 2025 Update

The Government has agreed to raise the probate threshold from $15,000 to $40,000 to make it easier and cheaper for families to access assets of deceased loved ones, according to Justice Minister Paul Goldsmith. The current threshold set in 2009 no longer reflects the value of estates, especially with KiwiSaver balances, leading to smaller estates being burdened by court costs and legal fees. The increase aims to allow executors to distribute lower-value assets more efficiently, ensuring more of the estate goes to beneficiaries, while still maintaining oversight through the High Court for higher value assets to prevent fraud or non-compliance with the deceased's wishes.

Government Funds New Nelson Tasman Weather Radar for Enhanced Emergency Response

The Government is funding MetService for a new Nelson Tasman weather radar to enhance severe weather monitoring and response in the region, as announced by Associate Transport Minister James Meager. The radar procurement aims to improve community preparedness for future disasters following recent severe weather events. The investment in the radar, with a capital cost of up to $5 million and ongoing operating costs, will provide emergency managers with better tools to monitor rainfall and flooding risks, ultimately reducing the potential for loss of life and property during severe weather events.

Government Facilitates Support for Flood-Affected Farmers in Nelson, Tasman, and Marlborough Regions

The Government today classified the flooding across the Nelson, Tasman, and Marlborough regions as a medium-scale adverse event unlocking extra support for flood-affected farmers and growers Agriculture Minister Todd McClay, and Rural Communities Minister Mark Patterson say. “Last week’s deluge damaged infrastructure such as livestock fences, culverts, and tracks, and left pasture and orchards covered in silt and flood debris,” Mr McClay says. “The Government is making up to $100,000 available to support and coordinate recovery efforts, including up to $20,000 for the Top of the South Rural Support Trust.