One key theme is research for a low-emission future. Examples are a National New-Energy Development Centre in Taranaki ($27m), an Advanced Energy Technology Platform ($20m), a Bioresource Processing Alliance and Product Accelerator ($18m), and an Agricultural Climate Change Research Platform ($3.2m). MBIE will advance policy on the future of work and “just transition” issues.
This budget plants seeds for future mitigation but will not drive near-term transformation. Our 2030 Paris target is looming large. If domestic emissions don’t fall, the government will have to pay for overseas emission reductions – provided a supply becomes available with high integrity and reasonable prices, and that is not guaranteed.
This budget funds the new Climate Change Commission and an ETS auction platform. The next budget may see higher emission prices, ETS auction revenue, and bold emission reduction plans on the horizon. Of course, that will depend on a strong Zero Carbon Amendment Bill. Public submissions are due by 16 July 2019.
An abbreviated version of this piece was posted on .