Source: Green Party
Treasury has put a price tag on Luxon’s Government’s climate inaction, with new analysis showing it could cost up to $5 billion to buy the offshore carbon credits needed to meet New Zealand’s 2030 climate target.
“Every time Christopher Luxon has cut climate action here at home, he has increased the bill we need to pay other countries to reduce their emissions,” says Green Party Co-leader Chlöe Swarbrick.
“The Government keeps saying they will meet the Nationally Determined Contribution under the Paris Agreement. We have known for about a decade doing that will require offshore mitigation, but the size of that offshore cost depends on how much we do onshore.”
“This Government has robbed us all of investment in local climate action, which could also have reduced the cost of living and built our resilience. Instead, they’ve chosen to fund new fossil fuels and increased the price we’ve got to pay other countries to do the job we could do here.”
“After consistent Green questioning, Treasury committed last year to provide updated analysis on these costs. They have. The Government is now looking at a $5 billion bill materialising by 2030.”
“It’s time for Nicola Willis to be honest. If the Government is committed to meeting our NDC, they need to show us the money.”
“If the Greens dared to pretend we would do something without budgeting for it, these guys would be screeching bloody murder. The economic incompetence and double standards here is unreal.”
“If the Government is instead secretly planning on not meeting our NDC, then they need to be honest about that. Climate commitments are baked into our free trade agreements with the United Kingdom and the European Union. If Luxon walks away from that 2030 target, he puts our trading relationships and exporters’ market access on the line too.”
“All politics aside, these are immutable facts. New Zealanders deserve a Government who operates in reality, with real solutions to reduce emissions and the cost of living, something the Greens are proud to offer,” says Swarbrick.
Original source: https://nz.mil-osi.com/2026/06/11/treasury-confirms-5-billion-bill-for-luxons-climate-inaction/