National has decided to support the Climate Change Response Act Amendment Bill through its first reading, but with serious concerns around the proposed methane target and the potential economic impact, Climate Change spokesperson Todd Muller says.
“National is supportive of efforts to reduce emissions, however we must also ensure our approach manages economic impacts and is in line with a global response.
“National supports many elements of the Bill including establishment of an independent Climate Change Commission, a framework for reducing New Zealand’s emissions and a framework for climate change adaptation.
“We have serious concerns about the target level that has been set.
“The proposed 24 – 47 per cent reduction in methane is not reflective of scientific advice and is too much too fast. A range of scientific reports have suggested agriculture would contribute no further warming with a 10 – 22 per cent reduction, which would be a more reasonable target.
“This is exactly the sort of decision the newly formed Climate Change Commission has been set up to consider and provide advice on. Unfortunately the one thing the Commission should be advising on is the one thing they haven’t been asked to do.
“The Regulatory Impact Statement for the Bill raises some big concerns around the economic implications for New Zealanders.
“In total, $300 billion is forecast to be shaved off the New Zealand economy between now and 2050, New Zealand’s economy will be nine per cent smaller under this target compared with the existing 50 per cent reduction target set by National.
“This figure already banks on new technology such as a ‘methane vaccine’ that allows farmers to reduce emissions. It assumes electric vehicles make up 95 per cent of our fleet, renewable electricity makes up 98 per cent of all electricity supply and 20 per cent of our dairy, sheep and beef land is converted to forestry.
“Without these assumptions, forecast costs quickly double or even quadruple.
“We need to reduce emissions and support global efforts to avoid climate change, but we also need to be open and honest about the potential costs of doing so.
“National is aware that we are talking about the future standard of living for us all, so we’re calling on the Environment Select Committee, who will now take the Bill forward, to consult with New Zealand’s science community and focus its attention on understanding an appropriate target level for New Zealand.”