NZ adds $220m to climate change cash commitments

Prime Minister John Key has joined 150 other world leaders in addressing the UN Climate Change Conference in Paris.

He announced a series of financial measures, including up to $200 million for climate-related support over the next four years, the majority of which will benefit Pacific nations.

This builds on the $65 million New Zealand has already spent over the last three years to help Pacific Nations secure reliable and clean energy.

“New Zealand has been at the forefront of efforts to shift the Pacific from reliance on fossil fuels to renewable electricity," Mr Key says.

"This work to address energy insecurity and build resilience will continue as we step up our support for climate change adaptation.”

New Zealand will also commit another $20 million to the Global Research Alliance on Agricultural Greenhouse Gases. This is in addition to the initial investment of $45 million.

The alliance was formed in 2009 and has 46 member countries.

It focuses on the research and development of technologies and practices that will help deliver ways to grow more food without increasing greenhouse gas emissions.

“In New Zealand half our emissions are from agriculture where there are not yet cost effective ways of reducing emissions, but we are working hard to change that," Mr Key says.

New Zealand is also taking a lead in the global push for the removal of fossil fuel subsidies, he says. Earlier, Mr Key presented a communiqué signed by nearly 40 nations. 

New Zealand to ratify Doha Amendment 
Climate Change Issues Minister Tim Groser says the Doha Amendment creates a second commitment period from January 1, 2013, to December 31, 2020, and needs to be ratified by three-quarters of Kyoto Protocol parties to enter into force.

“Supporting the amendment reinforces our commitment to the global effort to respond to climate change," he says.

“It is also critical that New Zealand can influence decisions that may have significant long-term impacts on our economy such as access to international carbon markets and accounting rules for the land sector.”

The government has committed to a target of reducing greenhouse gas emissions to 30% below 2005 levels by 2030.

The amendment needs endorsement by at least 144 countries in the Kyoto Protocol but so far only 54 other  countries have done so.

Use MyNBR Tags to track people and companies - and receive key-word email alerts. Find out how here.