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Climate change - preparing for the future

April 01, 2019

Contacts

Partners Greg Allen, Josh Cairns, Matt Conway, Don Holborow, Gerald Lanning, Sally McKechnie, Sarah Scott, Helen Smith, Nick Wilson
Special Advisors Chris Browne
Senior Associates Victoria Anderson, Joanna Lim, Mace Gorringe

Climate change (inc Zero Carbon Bill and Emissions Trading Scheme) Corporate governance

The evidence is compelling and overwhelming. Every sector of society and the economy will be affected by climate change - in some cases fundamentally.

2019’s major development will be the introduction of the Zero Carbon Act, the Government’s key response to our international obligations. The Act’s intention is to commit New Zealand to net-zero carbon emissions by 2050 or sooner - in a way that is fair and equitable. The proposed Act will also establish a Climate Change Commission and require a national adaptation plan to be implemented. Additionally, the ETS is also being amended in a way that is intended to drive economic decisions that respond to climate change. 

Businesses should be considering the implications now. The Climate Change Commission will be tasked with setting carbon budgets, against which New Zealand must perform. Any business that produces, or is even remotely reliant on emissions will be affected by these budgets, with price rises being a likely consequence.

Our report Climate Change - preparing for the future provides more information on the likely impacts of climate change and what business leaders should be focussing on right now.