Summary

• The current coalition Government is gutting all climate policies and strategies and was dishonoured with the infamous ‘Fossil of the Day’ award at COP28 for its decision to overturn the existing world-leading ban on new oil and gas exploration. This means that much of the following information is now historic.
• July 2024: We are no longer on track for net zero under the Coaltion Government’s new climate ‘plan’.
• Climate change impacts every aspect of our lives, so the policies now being put into place by Government Ministries, regional, and local councils must reflect the key legislative tool: the Climate Change Response (Zero Carbon) Amendment Act, which came into effect 13 November 2019.
• The Public Sector is to be carbon-neutral by 2025
• The Climate Change Commission was set up to provide impartial advice, challenge and hold the Government to account on climate action.
  
• The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill introduced in 2021 requires large financial organisations in New Zealand to disclose how exposed their business and investments are to climate change-related risk. This world-first financial strategy forces companies to protect themselves and their investors from stranded assets and the physical risks posed by climate change. It will also force them to divest investments in fossil-fuel related industries.
  

“Many large businesses in New Zealand do not currently have a good understanding of how climate change will impact what they do. The changes I am announcing today will bring climate risks and resilience into the heart of financial and business decision-making. It will ensure the disclosure of climate risk is clear, comprehensive and mainstream.” – Climate Change Minister James Shaw, 2020

• October 2021 at COP26, the New Zealand Government called to put a stop to subsidising fossil fuels. At COP 27 and COP28, the same call was repeated but, like so many promises made at annual COPs, nothing has changed.  Worse, the current New Zealand Government is planning to open up new oil and gas exploration.