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	<title>Emissions Trading Scheme &#8211; LiveNews.co.nz</title>
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		<title>Netvigator wins Six Ookla® Speedtest® awards again</title>
		<link>https://livenews.co.nz/2026/07/24/netvigator-wins-six-ookla-speedtest-awards-again/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Fri, 24 Jul 2026 10:16:48 +0000</pubDate>
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					<description><![CDATA[Source: Media Outreach Retains Fastest, Best Fixed Broadband and Top-Rated NetworkEarns Hong Kong’s Most Consistent Fixed Network recognition for the first time HONG KONG SAR – Media OutReach Newswire – 24 July 2026 – HKT’s (SEHK: 6823) Netvigator has once again secured six top honours from the renowned global independent connectivity intelligence leader, Ookla®‘s Speedtest®, ... <a title="Netvigator wins Six Ookla® Speedtest® awards again" class="read-more" href="https://livenews.co.nz/2026/07/24/netvigator-wins-six-ookla-speedtest-awards-again/" aria-label="Read more about Netvigator wins Six Ookla® Speedtest® awards again">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
<p><strong>Retains Fastest, Best Fixed Broadband and Top-Rated Network<br />Earns Hong Kong’s Most Consistent Fixed Network recognition for the first time</strong></p>
<p>HONG KONG SAR – Media OutReach Newswire – 24 July 2026 – HKT’s (SEHK: 6823) Netvigator has once again secured six top honours from the renowned global independent connectivity intelligence leader, Ookla<sup>®</sup>‘s Speedtest<sup>®</sup>, including Fastest and Best Fixed Network in the newly released first-half 2026 report. For the first time, it was also recognised as Hong Kong’s Most Consistent Fixed Network<sup>*</sup>, further cementing its position as a leading broadband service provider in Hong Kong and across the East Asia region.</p>
<p><figure data-width="100%" data-caption="Netvigator wins Six Ookla® Speedtest® awards again" data-caption-display="none" data-image-width="0" data-image-height="0" class="c4"> </figure>
</p>
<p>Following its sweep of six Ookla<sup>®</sup> Speedtest<sup>®</sup> awards in the second half of 2025, Netvigator has once again earned a series of fixed broadband accolades, demonstrating its high-speed, reliability, ultra-low-latency, and seamless network performance.</p>
<p>Ookla<sup>®</sup> Speedtest<sup>®</sup> awards for the first half of 2026:</p>
<ul>
<li>Fastest Fixed Network in Hong Kong</li>
<li>Best Fixed Network in Hong Kong</li>
<li>Best Fixed Gaming Network in Hong Kong</li>
<li>Top-Rated Fixed Network in Hong Kong</li>
<li>Fastest Fixed Network in East Asia</li>
<li>Best Fixed Network in East Asia</li>
</ul>
<p>Bruce Lam, CEO, Consumer, HKT, said, “Netvigator is committed to enhancing our network quality and user experience. Winning six awards again and being recognised as the Most Consistent Fixed Network in Hong Kong clearly reflects our dedication to providing reliable, low-latency connectivity for the public. Modern families expect more from their networks than just speed. Netvigator’s F5G‑A Super Broadband<sup>^</sup>, Hong Kong’s first and only fibre network compliant with the F5G-A standard<sup>@</sup>, delivers stable support for network-intensive AI applications, meeting the rapidly growing network demands of AI, empowering users to adopt and keep pace with evolving AI technologies, while also supporting bandwidth-intensive applications such as high-resolution streaming. This enables multiple family members to binge-watch, play online games, or work in the cloud at the same time. With a next-generation fibre network that meets international standards, Netvigator is setting a new benchmark for ultra-high bandwidth, ultra-low latency and highly reliable fixed network in Hong Kong, enabling Hong Kong to master the AI era. We will continue to elevate our service quality to deliver a faster, more stable, and smarter digital experiences for our customers.”</p>
<p>Ricky Kwong, Head of Fixed Network Engineering, HKT and CEO, Fiber Link Global, said, “With the rapid emergence of various AI applications, the demand for stable, high-speed and low-latency networks is growing at an unprecedented pace. HKT has been committed to enhancing network performance. In addition to our F5G-A standard-compliant fibre network<sup>@</sup>, which continues to expand, we are actively upgrading our network through technological innovation, including the use of AI for real-time traffic monitoring and resource optimisation, ensuring a more seamless, smooth, and reliable network experience for our customers.”</p>
<p>Ookla<sup>®</sup> Speedtest<sup>®</sup> has long been widely referenced across the telecommunications industry. The sample data is drawn from over ten million tests conducted globally by actual users in real-world network environments. The results evaluate operators’ performance in terms of network speed, stability and overall user experience across various usage scenarios, making it one of the world’s most widely adopted and trusted platforms for measuring internet speed.</p>
<p><sup>*</sup>The recognition is based on Ookla® Speedtest Intelligence® data, measuring the percentage of users achieving minimum speeds of 25 Mbps download and 3 Mbps upload compared with other providers in Hong Kong<br /><sup>^</sup> Super Broadband refers to the Netvigator fibre broadband service plan that meets the ETSI F5G-A standard. As of 31 May 2026, HKT’s fixed broadband has met the ETSI F5G-A standard in the fibre networks of 57,000 designated buildings. 2500M Fibre-to-the-Home plans correspond to a maximum upstream and downstream bandwidth of 2500Mbps respectively. Actual speed experienced using the Service will be less than the network specifications and may be affected by your device, technology, network and software used, network configuration and coverage, usage levels, international bandwidth and other extraneous factors. 2500M Fibre-to-the Home plans depend on the support of the end device.<br /><sup>@</sup> According to the public market information of major telecommunications service providers in Hong Kong as of 2 August, 2024, Netvigator is the first network in Hong Kong to meet the F5G-A standard in designated buildings. As of 20 July 2026, based on publicly available information, no other telecommunications service provider in Hong Kong has announced compliance with the ETSI F5G-A standard apart from HKT.</p>
<p><strong>Hashtag:</strong> #HKT</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
<p>  – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="noopener noreferrer">Media-Outreach.com.</a></p>
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		<title>Singapore’s Largest Pet Event Returns Bigger Than Ever with Singapore Pet Festival 2026</title>
		<link>https://livenews.co.nz/2026/07/24/singapores-largest-pet-event-returns-bigger-than-ever-with-singapore-pet-festival-2026/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Fri, 24 Jul 2026 01:06:52 +0000</pubDate>
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					<description><![CDATA[Source: Media Outreach Featuring Cesar Millan’s Singapore Debut, Over 300 Exhibitors, 800+ Brands, International Competitions, and Four Halls of Pet Experiences SINGAPORE – Media OutReach Newswire – 24 July 2026 – Pet lovers can look forward to the return of SG Pet Festival 2026, Singapore’s largest pet exhibition, happening from 31 July to 2 August ... <a title="Singapore’s Largest Pet Event Returns Bigger Than Ever with Singapore Pet Festival 2026" class="read-more" href="https://livenews.co.nz/2026/07/24/singapores-largest-pet-event-returns-bigger-than-ever-with-singapore-pet-festival-2026/" aria-label="Read more about Singapore’s Largest Pet Event Returns Bigger Than Ever with Singapore Pet Festival 2026">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
</p>
<h2 class="mo-black" lang="en" xml:lang="en">Featuring Cesar Millan’s Singapore Debut, Over 300 Exhibitors, 800+ Brands, International Competitions, and Four Halls of Pet Experiences</h2>
<div readability="131.07809847199">SINGAPORE – Media OutReach Newswire – 24 July 2026 – Pet lovers can look forward to the return of SG Pet Festival 2026, Singapore’s largest pet exhibition, happening from 31 July to 2 August 2026 at Marina Bay Sands Convention Centre, Halls A, B, C &#038; D.</p>
<p>Spanning <strong>across four exhibition halls</strong>, this year’s festival promises its biggest edition yet, bringing together <strong>over 300 exhibitors</strong> representing <strong>more than 800 local and international brands</strong>. Visitors can expect an exciting three-day celebration filled with shopping, education, competitions, interactive experiences, exclusive launches, and entertainment for pets and their families.</p>
<p><em>“Singapore Pet Festival has always been about bringing the pet community together while creating opportunities for brands, businesses, and pet lovers to connect. As the festival continues to grow, we are committed to raising industry standards, supporting education, and introducing new experiences that benefit both consumers and businesses. This year’s festival is our biggest and most exciting edition yet, and we look forward to welcoming everyone to Marina Bay Sands,” said Angie Lim, Managing Director of Citrus Media.</em></p>
<p><strong>Event Highlights</strong></p>
<p><strong>Cesar Millan Makes His Singapore Debut</strong></p>
<p>One of this year’s biggest highlights is the highly anticipated Singapore debut of world-renowned dog behaviour expert <strong>Cesar Millan</strong>.</p>
<p>Visitors can look forward to exclusive live sessions, stage appearances, and limited-capacity private workshops. For just <strong>$98 per session</strong>, pet owners can enjoy an intimate learning experience, gaining practical insights into dog behaviour, training techniques, and the opportunity to learn directly from the world-famous “Dog Whisperer.”</p>
<p>Fans can also choose from specially curated experience packages. The <strong>$68 Meet &#038; Greet Package</strong> includes a photo with Cesar and a live autograph session, where he will sign the exclusive collectible merchandise included with your ticket. Collectors can also purchase the <strong>Exclusive Cesar Millan Collector’s Pack</strong> for <strong>$50</strong> during the Early Bird promotion, available until <strong>30 July</strong>. The pack includes a pair of autographed coasters.</p>
<p><strong>Shop, Save &#038; Win</strong></p>
<p>Visitors can enjoy:</p>
<ul>
<li dir="ltr" class="c3">$30,000 worth of Cash Rebates &#038; Lucky Draw Prizes</li>
<li dir="ltr">Exclusive event-only product launches, promotions, and deals</li>
<li dir="ltr">Official TikTok LIVE shopping sessions featuring exclusive festival promotions and participating exhibitors</li>
<li dir="ltr">Complimentary Limited Edition Singapore Pet Festival Tote Bag (while stocks last)</li>
<li dir="ltr">Complimentary themed photobooth print-outs for qualifying spenders</li>
<li dir="ltr">Exclusive giveaways and brand activations throughout the festival</li>
</ul>
<p class="c4"><strong>Singapore’s Largest Pet Marketplace</strong></p>
<p>With over <strong>300 exhibitors</strong> showcasing <strong>800+ brands</strong>, visitors can explore the latest products and services for dogs, cats, birds, small animals, aquatics, and more.<br />A specially curated <strong>Food Street</strong> featuring <strong>18 food booths</strong> will also offer a delicious selection of food, refreshing beverages, and indulgent desserts, giving visitors plenty of dining options throughout the festival.</p>
<p><strong>International &#038; Industry Highlights</strong></p>
<p>Singapore Pet Festival continues to strengthen its position as a leading regional pet event by welcoming exhibitors and industry professionals from across Asia.</p>
<p>Highlights include:</p>
<ul>
<li dir="ltr">International exhibitors from across Asia, including the <strong>Japan Pavilion</strong> and <strong>Korea Pavilion</strong></li>
<li dir="ltr">Singapore’s first <strong>International Society of Canine Cosmetologists (ISCC) Grooming Certification &#038; Competition</strong></li>
<li dir="ltr">The <strong>8th TICA Cat Show</strong>, featuring pedigreed cats and renowned breeders</li>
<li dir="ltr">National Dog Obedience Competition, featuring Singapore’s top obedience teams in a live showcase of skill and teamwork supported by <strong>Pets Enterprises &#038; Traders Association Singapore (PETAS)</strong></li>
<li dir="ltr">International judging panels and industry experts</li>
</ul>
<p class="c4"><strong class="c5">Dedicated Experiences for Every Pet Lover</strong></p>
<p>Visitors can enjoy:</p>
<ul>
<li dir="ltr">A dedicated <strong>Hall D</strong> for Cats &#038; Small Animals, showcasing curated brands, activities, and live animal displays, including birds, guinea pigs and chinchillas</li>
<li dir="ltr">Interactive pet-friendly activities and experiences</li>
<li dir="ltr">Exclusive themed pet photo shoot experiences</li>
</ul>
<p class="c4"><strong class="c5">Education &#038; Community</strong></p>
<p>Beyond shopping, Singapore Pet Festival aims to educate and connect the pet community through:</p>
<ul>
<li dir="ltr">Educational talks, workshops, and live demonstrations</li>
<li dir="ltr">Meet-and-greet opportunities with veterinarians, trainers, groomers, and industry professionals</li>
<li dir="ltr">Animal welfare groups hosting on-site adoption drives, giving rescued animals the opportunity to find loving forever homes while promoting responsible pet adoption</li>
<li dir="ltr">A platform connecting pet owners, businesses, and animal lovers across the region</li>
</ul>
<p class="c4"><strong class="c5">Exclusive Media Preview</strong></p>
<p>Ahead of the public opening, invited <strong>media representatives, content creators, VIP guests and industry partners</strong> will enjoy exclusive <strong>early access</strong> to Singapore Pet Festival 2026 during the VIP Preview Session on Friday, 31 July, from 10:00 AM.</p>
<p>The preview offers creators a first-hand shopping experience, early access to new product launches and exclusive deals, opportunities to create content before the crowds arrive, and networking with brands and fellow creators.</p>
<p> https://www.clubpets.com.sg/<br /> https://www.facebook.com/CLUBPETS<br /> https://www.instagram.com/clubpets.sg/<br /> https://www.tiktok.com/@clubpets</p>
<p><strong>Hashtag:</strong> #clubpets #sgpetfestival #petevents #petexpo #petfair</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
</div>
<p> – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="noopener noreferrer">Media-Outreach.com.</a></p>
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		<title>Climate News – Aotearoa New Zealand’s rate of emissions reduction needs to more than double</title>
		<link>https://livenews.co.nz/2026/07/22/climate-news-aotearoa-new-zealands-rate-of-emissions-reduction-needs-to-more-than-double/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Wed, 22 Jul 2026 00:31:59 +0000</pubDate>
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					<description><![CDATA[Source: Climate Change Commission Aotearoa New Zealand’s emissions are gradually falling, but progress stalled in 2024. The pace of emissions reductions needs to more than double over the next few years; and to get on track for that, action is needed within the next 12-24 months. Risks to Aotearoa New Zealand’s climate goals for the next ... <a title="Climate News – Aotearoa New Zealand’s rate of emissions reduction needs to more than double" class="read-more" href="https://livenews.co.nz/2026/07/22/climate-news-aotearoa-new-zealands-rate-of-emissions-reduction-needs-to-more-than-double/" aria-label="Read more about Climate News – Aotearoa New Zealand’s rate of emissions reduction needs to more than double">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">
<div>
<h2><span>Source:</span><span class="gmail-Apple-converted-space"> </span><span>Climate Change Commission</span><br /></h2>
</div>
<div>
<div>
<ul>
<li>Aotearoa New Zealand’s emissions are gradually falling, but progress stalled in 2024.</li>
<li>The pace of emissions reductions needs to more than double over the next few years; and to get on track for that, action is needed within the next 12-24 months.</li>
<li>Risks to Aotearoa New Zealand’s climate goals for the next decade have increased. The second and third emissions budgets are at high risk, and the 2030 biogenic methane target is unlikely to be met.</li>
<li>The report highlights practical opportunities to reduce emissions and manage future costs, including low-emissions technologies that are already cheaper over time in some households and businesses uses.</li>
<li>The Government has low-cost options to reduce barriers that are preventing businesses and households from choosing low emissions technologies.</li>
</ul>
</div>
<div><b>Current policy won’t deliver what’s needed, and the window to get on track is closing</b></div>
<div>Aotearoa New Zealand’s emissions are falling, but not fast enough to meet the country’s climate goals, according to the Climate Change Commission’s annual emissions monitoring report released today. The report finds progress stalled in 2024, and the rate of emissions reduction will need to more than double over the next few years to get back on track.</div>
<div>“This is a clear warning sign. Emissions are gradually falling but progress stalled in 2024, and current policy settings are not delivering at the pace needed. Government choices in the next 12-24 months will be critical to getting the country back on track,” says Jo Hendy, Chief Executive of the Climate Change Commission.</div>
<div>New Zealanders are already experiencing the impacts of a changing climate. Choices made now will affect how quickly the country cuts its own emissions, and how well households, businesses and communities are positioned to manage future shocks.</div>
<div><b>Accelerating decarbonisation can save money and manage future risks</b></div>
<div>For some common household and business uses, low-emissions choices are already cheaper over time. Electric vehicles, solar and heat pumps can reduce running costs, lower exposure to volatile fuel prices, and make homes and businesses more resilient to future shocks.</div>
<div>The Commission’s report highlights practical examples where available low-emissions technologies can reduce costs. EVs are cheaper to run than petrol vehicles, and upfront costs have dropped. For comparable compact SUVs, EV owners can save about NZ$7,500 over five years. In parts of Australia (where about a third of households have solar), rooftop solar and battery systems are helping reduce regulated electricity prices by up to 10%. It’s now generally cheaper for businesses to buy and run a new industrial heat pump than continue running a fossil-fuel low-temperature boiler.</div>
<div>Separately, research released earlier this year by the Sustainable Business Council and Climate Leaders Coalition estimated that earlier decarbonisation could contribute NZ$22 billion per year to GDP in less than a decade.</div>
<div>“But roll-out in Aotearoa New Zealand is lagging. This isn’t just a missed opportunity to reduce emissions, it means that households and businesses may be paying higher energy costs than they need to. Slow or delayed action also restricts the country’s future options,” says Hendy.</div>
<div><b>The Government has low-cost options to address barriers</b></div>
<div>People are missing out on savings and reducing their exposure to future energy risks because upfront costs and other barriers prevent households and businesses from switching away from fossil fuels.</div>
<div>The Government has low-cost options to address these barriers. These include targeted funding and financing mechanisms, stable investment signals for markets and consumers, and better information to support household and business decisions.</div>
<div>“The Government has already taken useful steps to reduce upfront cost barriers, including low-interest loans for EV charging and the gas transition loan scheme. The question now is how to build on them quickly enough to support the scale of change needed,” says Hendy.</div>
<div>“It’s not just about what the Government spends money on, but also the signals it gives. Clear and stable policy settings help households, businesses and investors make decisions with confidence. The goal should be to avoid getting locked into expensive long-run options. Infrastructure and other long-lived investments that support low-emissions choices are generally cheaper to get right early than to retrofit later,” says Hendy.</div>
<div><b>Resources</b></div>
<div>The<span class="gmail-Apple-converted-space"> </span><a href="https://www.climatecommission.govt.nz/erm-2026" target="_blank" rel="noopener noreferrer">2026 report is available here</a>, and the following<span class="gmail-Apple-converted-space"> </span><a href="https://climatecommission.govt.nz/reports-and-evidence/publications/2026-monitoring-report-emissions-reduction#Summaries" target="_blank" rel="noopener noreferrer">summary resources</a><span class="gmail-Apple-converted-space"> </span>are also available:</div>
<div>
<ul>
<li>Exec Summary – summary of our findings and recommendations, excerpted from the main report.</li>
<li>One-page summary – overview of the 2026 key findings and recommendations</li>
<li>Sector summaries – covering: energy, industry and buildings; transport; agriculture; waste and fluorinated gases; and forestry.</li>
<li>Whakahekenga rehukino summary – covering key points for emissions reduction actions centred on iwi/Māori. Available in in te reo Māori and English.</li>
</ul>
</div>
<div><b>About the emissions reduction monitoring report</b></div>
<div>These annual reports provide an evidence-based, impartial view of whether the country is on course to reach its goals of reducing and removing greenhouse gas emissions. They provide insights into the progress made, challenges experienced, and opportunities and risks that need to be considered.</div>
<div>The 2026 report uses the same approach and framework as previously. However, since the 2025 report, the Government has lowered the 2050 biogenic methane target and the Commission has updated its benchmark. This means that the factors that the report assessed against have changed.</div>
<div><b>2026 key findings and recommendations</b></div>
<div>Risks to Aotearoa New Zealand’s climate goals for the next decade have increased. The second and third emissions budgets are at high risk, and the 2030 biogenic methane target is unlikely to be met. Risks have increased especially for agriculture, electricity generation, and transport – this is also where some of the greatest opportunities for reductions can be found.</div>
<div>Recommendation 1: We recommend that the Government takes action to address market barriers and failures within the next year to ensure it can meet its emissions goals including:</div>
<div>
<ul>
<li>start determining how to incentivise further emissions reductions and removals in the 2030s given that the New Zealand Emissions Trading Scheme in its current form will struggle to do this.</li>
<li>for the primary sector: immediately scale up support measures to meet the 2030 biogenic methane target; and reduce barriers for high-value, low-emissions agricultural products for long-term reductions and resilience </li>
<li>expand resource recovery facilities, services and planning, and extend landfill gas capture requirements to class 2 landfills</li>
<li>encourage electric vehicle uptake through strong supply- and demand-side measures, and support greater shifts to public and active transport</li>
<li>address upfront cost barriers to fuel-switching for households and businesses.</li>
</ul>
</div>
<div>Recommendation 2: We recommend that the Government update its approach to emissions projections to ensure they provide a robust indication of likely future policy impact.</div>
<div>In some areas (agricultural technology, forestry on Crown-owned land and LFG capture), the assumptions underlying the projections do not appear to be driven by a realistic assessment of current policy. While scenarios provide useful information, there is a need for robust modelling based on evidence about how much different policies can reduce emissions.</div>
</div>
</div>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Transport Events – YOUNG DRIVERS SHARE HOW PRACTICAL TRAINING CHANGED THE WAY THEY APPROACH THE ROAD</title>
		<link>https://livenews.co.nz/2026/07/02/transport-events-young-drivers-share-how-practical-training-changed-the-way-they-approach-the-road/</link>
		
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		<pubDate>Thu, 02 Jul 2026 04:07:45 +0000</pubDate>
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					<description><![CDATA[Source: Street Smart – Driven by Tony Quinn Foundation A young driver who was involved in a serious crash on a rural road is encouraging others to experience practical driver training after saying it changed the way she approaches every journey. Gabby was travelling to school at 100km/h when another vehicle pulled out in front ... <a title="Transport Events – YOUNG DRIVERS SHARE HOW PRACTICAL TRAINING CHANGED THE WAY THEY APPROACH THE ROAD" class="read-more" href="https://livenews.co.nz/2026/07/02/transport-events-young-drivers-share-how-practical-training-changed-the-way-they-approach-the-road/" aria-label="Read more about Transport Events – YOUNG DRIVERS SHARE HOW PRACTICAL TRAINING CHANGED THE WAY THEY APPROACH THE ROAD">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">Source: Street Smart – Driven by Tony Quinn Foundation</p>
<p>A young driver who was involved in a serious crash on a rural road is encouraging others to experience practical driver training after saying it changed the way she approaches every journey.</p>
<p>Gabby was travelling to school at 100km/h when another vehicle pulled out in front of her, causing a collision that rolled her vehicle into a fence. While she escaped without physical injury, the crash left a lasting impact on her willingness to drive.</p>
<p>“I was driving to school on a country road when another driver didn&#8217;t see me and pulled out in front of me. I was travelling at 100km/h when my vehicle was hit and rolled into a fence.</p>
<p>“Afterwards, I didn&#8217;t want to drive again because I felt like every car was going to crash into me.”</p>
<p>Gabby later attended a Street Smart young driver training day, a practical, hands-on programme, run at venues  around the country, that gives drivers the opportunity to experience emergency braking, hazard awareness and vehicle control in a safe, controlled environment alongside experienced coaches.</p>
<p>Initially, she admits she wasn&#8217;t enthusiastic about attending.</p>
<p>“I thought it was going to be all theory and quite boring, so I wasn&#8217;t very keen to go.”</p>
<p>By the end of the day, however, her outlook had changed.</p>
<p>“The ABS braking exercise was what I took the most from. I really enjoyed learning how to use it properly and understanding what the vehicle can do in an emergency situation.”</p>
<p>Since completing the programme, Gabby says she approaches driving differently.</p>
<p>“I am much more aware of my surroundings now. I pay more attention to potential hazards and I know how to use ABS braking effectively if I ever need it.”</p>
<p>Street Smart Programme Director Hayden Dickason says Gabby&#8217;s experience reflects what many participants describe after completing the programme.</p>
<p>“Young drivers spend a lot of time learning the rules of the road, but there are some situations that simply can&#8217;t be experienced safely on public roads. Street Smart gives them the opportunity to understand how a vehicle behaves under emergency braking, how distractions affect reaction times, and how quickly hazards can develop, all in a controlled environment.”</p>
<p>The impact is often noticed well beyond the training day.</p>
<p>Gabby&#8217;s mother says she initially thought her daughter viewed the programme as a consequence of the crash rather than an opportunity to learn.</p>
<p>“At the beginning, Gabby wasn&#8217;t particularly keen to attend… she viewed the course as a punishment for the accident and a waste of her time. As the day progressed, her attitude completely changed. She mentioned several times how good the course was and how much she enjoyed it.”</p>
<p>She says the lessons have continued to shape Gabby&#8217;s driving.</p>
<p>“Since attending Street Smart, Gabby has become much more careful and aware of her surroundings. She pays greater attention to potential hazards and is far more conscious of distractions, both inside and outside the vehicle. Overall, she approaches driving with much more caution and maturity.”</p>
<p>Similar experiences have been shared by participants across New Zealand.</p>
<p>Emma, who recently attended a training day in Christchurch says the programme changed the way she scans the road and thinks about vehicle control, particularly on rural roads where looking further ahead is critical.</p>
<p>“The experience is 100x better than I could have imagined, not only was it highly educational, but for me the backgrounds of the coaches made it so much more of an enjoyable, interesting and fun day. The lessons that you learn completely outweigh the cost, this experience is very likely to change the outcome of someone&#8217;s driving experience or even their life. Just give it a go!”</p>
<p>For Cromwell attendee Meisha, those lessons were put to the test only weeks after attending when another driver failed to give way at an intersection.</p>
<p>“I slammed on my brakes and felt my car judder, but thanks to testing it out at Street Smart, I knew my car would be okay.”</p>
<p>She believes the practical experience prepared her for a situation many new drivers hope they never encounter.</p>
<p>“It is far better to test out your vehicle&#8217;s safety precautions in a controlled space, rather than in a real emergency. If it comes down to it, brake, and brake hard. You are more important than your car. Your vehicle is replaceable. You aren&#8217;t.”</p>
<p>Greg Murphy, Street Smart Trust Chair and Ambassador, shared his enthusiasm for the programme: “I’m incredibly passionate about saving lives through improving driver awareness, and I’m incredibly proud to have been involved in Street Smart since its inception. This programme has been designed by experts for Kiwi teens, and it’s making a difference in helping young people become more aware and responsible behind the wheel.”</p>
<p>Street Smart is a one-day practical driver training programme delivered around New Zealand, helping young drivers and their guardians experience real-world driving situations in a safe environment before encountering them on public roads.</p>
<p>For upcoming training days or more information, visit <a href="http://www.streetsmart.org.nz/" target="_blank" rel="noopener noreferrer">www.streetsmart.org.nz</a></p>
<p>The Street Smart programme is open to young drivers and their parents/guardians. Registration details and additional information are available on the Street Smart website <a href="http://www.streetsmart.nz/" target="_blank" rel="noopener noreferrer">www.streetsmart.nz</a></p>
</p>
<p>Event Details:</p>
</p>
<p><b>AUCKLAND – WAIKATO</b></p>
<ul>
<li><span></span>When: 7<span><sup>th</sup></span>, 8<span><sup>th</sup></span>, 9<span><sup>th</sup></span> July, 25th July, 13<span><sup>th</sup></span> September, 30<span><sup>th</sup></span> September, 1<span><sup>st</sup></span>, 2<span><sup>nd</sup></span> October 2026</li>
<li><span></span>Where: Hampton Downs Motorsport Park, 20 Hampton Downs Road, Te Kauwhata</li>
</ul>
<p><b>TAUPŌ</b></p>
<ul>
<li><span></span>When: 5<span><sup>th </sup></span>&#038; 6<span><sup>th</sup></span> July, 28<span><sup>th</sup></span> &#038; 29<span><sup>th</sup></span> September 2026</li>
<li><span></span>Where: Taupō International Motorsport Park, 463 Broadlands Road, Taupō</li>
</ul>
<p><b>MANAWATŪ – FEILDING</b></p>
<ul>
<li><span></span>When: 26<span><sup>th</sup></span> &#038; 27<span><sup>th</sup></span> September 2026</li>
<li><span></span>Where:<b> </b>Manfeild Park Back Circuit<b>, </b>120 Kawakawa Road, Feilding</li>
</ul>
<p><b>CHRISTCHURCH</b></p>
<ul>
<li><span></span>When: 13<span><sup>th</sup></span> &#038; 14 July, 5<span><sup>th</sup></span> &#038; 6<span><sup>th</sup></span> October 2026</li>
<li><span></span>Where:<b> </b>Euromarque Motorsport Park, 107 Hasketts Road, Templeton, Christchurch</li>
</ul>
<p><b>CROMWELL</b></p>
<ul>
<li><span></span>When: 16th &#038; 17th July, 8<span><sup>th</sup></span> &#038; 9<span><sup>th</sup></span> October 2026</li>
<li><span></span>Where: Highlands Motorsport Park, Corner SH6 &#038; Sandflat Road, Cromwell, Otago</li>
</ul>
<p><b>INVERCRAGILL:</b></p>
<ul>
<li><span></span>When: 18<span><sup>th</sup></span> &#038; 19<span><sup>th</sup></span> July, 7<span><sup>th</sup></span> October 2026</li>
<li><span></span>Where: Teretonga Park Raceway, 86 Sandy Point Road, Oreti Beach, Invercargill</li>
</ul>
<p>ABOUT STREETSMART DRIVEN BY TONY QUINN FOUNDATION</p>
<p>Street Smart driven by Tony Quinn Foundation Road Safety, is a world-class, hands-on driver education programme designed to positively impact young Kiwis across the country. Unlike traditional defensive driving or theory / classroom based programmes, Street Smart offers a one-day, hands on practical experience where young drivers and their parents/guardians participate in activities, guided and coached by professional drivers. This unique approach helps both the young driver and their mentor assess skills that are crucial to their driving journey.</p>
<p>The programme is held at a number of safe and controlled environments around the country with participants, under the guidance of trained coaches, engaging in real-world driving scenarios to enhance their skills. The goal is for young drivers to leave the programme as a safer and more aware driver but most importantly being able to learn by doing and be able to take charge of their learning.</p>
<p><a href="http://www.streetsmart.org.nz/" target="_blank" rel="noopener noreferrer">www.streetsmart.org.nz</a></p>
</div>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Economy – Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2026 – NZ Treasury</title>
		<link>https://livenews.co.nz/2026/07/02/economy-interim-financial-statements-of-the-government-of-new-zealand-for-the-eleven-months-ended-31-may-2026-nz-treasury/</link>
		
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		<pubDate>Wed, 01 Jul 2026 22:31:48 +0000</pubDate>
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					<description><![CDATA[Source: The Treasury The Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2026 were released by the Treasury today. The May results are reported against forecasts based on the Budget Economic and Fiscal Update (BEFU 2026), published on 28 May 2026, and the results for the same ... <a title="Economy – Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2026 – NZ Treasury" class="read-more" href="https://livenews.co.nz/2026/07/02/economy-interim-financial-statements-of-the-government-of-new-zealand-for-the-eleven-months-ended-31-may-2026-nz-treasury/" aria-label="Read more about Economy – Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2026 – NZ Treasury">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">Source: The Treasury</p>
<p>The Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2026 were released by the Treasury today. The May results are reported against forecasts based on the Budget Economic and Fiscal Update (BEFU 2026), published on 28 May 2026, and the results for the same period for the previous year.</p>
<p>Overall, the key fiscal indicators for the eleven months ended 31 May 2026 were stronger than forecast. The operating balance before gains and losses excluding ACC (OBEGALx) showed a deficit of $6.8 billion, which was $3.0 billion smaller than forecast. Net core Crown debt was $2.8 billion lower than forecast, at $186.0 billion or 41.3% of GDP.</p>
<p>Core Crown tax revenue at $114.9 billion, was $0.9 billion higher than forecast. The variance predominantly reflected higher-than-forecast corporate and other individuals’ tax revenue owing to stronger-than-forecast provisional tax revenue.</p>
<p>Core Crown revenue at $126.6 billion was $1.7 billion higher than forecast. In addition to the favourable core Crown tax results, revenue from the New Zealand Emissions Trading Scheme (NZ ETS) was $0.5 billion higher than forecast reflecting an increase in the price of New Zealand Units (NZUs) and a higher volume of NZUs being surrendered to the Crown.</p>
<p>Core Crown expenses at $132.4 billion, were $0.9 billion lower than forecast spread across a range of functional classifications, including core government services, economic and industrial services, transport and communications and education.</p>
<p>The OBEGALx deficit was $6.8 billion, $3.0 billion smaller than forecast reflecting the core Crown results noted above along with results of State‑Owned Enterprises. When including the revenue and expenses of ACC, the OBEGAL deficit was $9.5 billion, $3.4 billion smaller than the forecast deficit.</p>
<p>The operating balance surplus of $1.1 billion was $3.6 billion stronger than the forecast deficit of $2.5 billion. This mainly reflects the favourable OBEGAL variance mentioned above, with variances in gains and losses on financial and non-financial instruments broadly offsetting each other.</p>
<p>The core Crown residual cash deficit of $4.6 billion was $2.0 billion smaller than forecast. Net core Crown operating cash outflows and capital cash outflows were $1.9 billion and $0.1 billion lower than forecast, respectively. The net core Crown operating cashflows variance was largely driven by higher than forecast tax receipts and lower than forecast personnel and operating costs, broadly consistent with the trends in core Crown tax revenue and expenses discussed above.</p>
<p>Net core Crown debt at $186.0 billion (41.3% of GDP) was $2.8 billion lower than forecast. This variance was mainly driven by the smaller‑than‑forecast core Crown residual cash deficit mentioned above. In addition, the Reserve Bank&#8217;s issued currency was $0.7 billion higher than forecast.</p>
<p>Gross debt at $222.5 billion (49.3% of GDP) was higher than forecast by $1.2 billion. This primarily reflected higher-than-forecast issuances of Euro Commercial Paper driven by short-term cash requirements and unsettled purchases of securities, partially offset by lower-than-forecast cross-currency derivatives in loss at 31 May 2026.</p>
<p>Net worth attributable to the Crown at $181.2 billion (40.2% of GDP) was $4.1 billion higher than forecast. This reflected the stronger-than-forecast operating balance result mentioned above ($3.6 billion) along with higher-than-expected property, plant and equipment valuation movements.</p>
<div>
<div>
<div class="gmail-table-responsive"><br class="gmail-Apple-interchange-newline">      </p>
<table class="gmail-table gmail-boxData">
<colgroup class="gmail-left"></colgroup>
<colgroup></colgroup>
<colgroup></colgroup>
<colgroup class="gmail-right" span="5"></colgroup>
<colgroup></colgroup>
<colgroup></colgroup>
<thead>
<tr>
<th class="gmail-you-will-align-left" rowspan="2" scope="col"> </th>
<th colspan="4" scope="colgroup"><em>Year to date</em></th>
<th headers="b h" scope="col"><em>Full Year</em></th>
</tr>
<tr>
<th headers="b" scope="col">May<br />2026<br />Actual<span>1</span><br />$m</th>
<th headers="b" scope="col">May<br />2026<br /><em>BEFU 2026</em><br />Forecast<span>1</span><br />$m</th>
<th headers="b" scope="col"><em>Variance</em><span>2</span><br /><em>BEFU 2026</em><br /><em>$m</em></th>
<th headers="b" scope="col"><em>Variance</em><br /><em>BEFU 2026</em><br /><em>%</em></th>
<th headers="b c" scope="col">June<br />2026<br /><em>BEFU 2026</em><br />Forecast<span>3</span><br />$m</th>
</tr>
</thead>
<tbody>
<tr>
<th scope="row">Core Crown tax revenue</th>
<td headers="b d i"><strong>114,925</strong></td>
<td headers="b e i">113,985</td>
<td headers="b f i"><em>940</em></td>
<td headers="b g i"><em>0.8</em></td>
<td headers="b c h i">124,807</td>
</tr>
<tr>
<th scope="row">Core Crown revenue</th>
<td headers="b d j"><strong>126,641</strong></td>
<td headers="b e j">124,962</td>
<td headers="b f j"><em>1,679</em></td>
<td headers="b g j"><em>1.3</em></td>
<td headers="b c h j">137,235</td>
</tr>
<tr>
<th scope="row">Core Crown expenses</th>
<td headers="b d k"><strong>132,408</strong></td>
<td headers="b e k">133,337</td>
<td headers="b f k"><em>929</em></td>
<td headers="b g k"><em>0.7</em></td>
<td headers="b c h k">147,239</td>
</tr>
<tr>
<th scope="row">Core Crown residual cash</th>
<td headers="b d l"><strong>(4,578)</strong></td>
<td headers="b e l">(6,563)</td>
<td headers="b f l"><em>1,985</em></td>
<td headers="b g l"><em>30.2</em></td>
<td headers="b c h l">(9,314)</td>
</tr>
<tr>
<th scope="row">Net core Crown debt<span>4</span></th>
<td headers="b d m"><strong>186,040</strong></td>
<td headers="b e m">188,863</td>
<td headers="b f m"><em>2,823</em></td>
<td headers="b g m"><em>1.5</em></td>
<td headers="b c h m">191,761</td>
</tr>
<tr>
<th class="gmail-italic" scope="row"><em>          as a percentage of GDP</em></th>
<td headers="b d n"><em><strong>41.3%</strong></em></td>
<td headers="b e n"><em>41.9%</em></td>
<td> </td>
<td> </td>
<td headers="b c h n"><em>42.4%</em></td>
</tr>
<tr>
<th scope="row">Gross debt</th>
<td headers="b d o"><strong>222,535</strong></td>
<td headers="b e o">221,371</td>
<td headers="b f o"><em>(1,164)</em></td>
<td headers="b g o"><em>(0.5)</em></td>
<td headers="b c h o">223,761</td>
</tr>
<tr>
<th class="gmail-italic" scope="row"><em>          as a percentage of GDP</em></th>
<td headers="b d p"><em><strong>49.3%</strong></em></td>
<td headers="b e p"><em>49.1%</em></td>
<td> </td>
<td> </td>
<td headers="b c h p"><em>49.5%</em></td>
</tr>
<tr>
<th scope="row">OBEGAL excluding ACC (OBEGALx)</th>
<td headers="b d q"><strong>(6,787)</strong></td>
<td headers="b e q">(9,827)</td>
<td headers="b f q"><em>3,040</em></td>
<td headers="b g q"><em>30.9</em></td>
<td headers="b c h q">(11,937)</td>
</tr>
<tr>
<th scope="row">OBEGAL</th>
<td headers="b d r"><strong>(9,507)</strong></td>
<td headers="b e r">(12,897)</td>
<td headers="b f r"><em>3,390</em></td>
<td headers="b g r"><em>26.3</em></td>
<td headers="b c h r">(15,058)</td>
</tr>
<tr>
<th scope="row">Operating balance (excluding minority interests)</th>
<td headers="b d s"><strong>1,061</strong></td>
<td headers="b e s">(2,508)</td>
<td headers="b f s"><em>3,569</em></td>
<td headers="b g s"><em>142.3</em></td>
<td headers="b c h s">(4,137)</td>
</tr>
<tr>
<th scope="row">Net worth attributable to the Crown</th>
<td headers="b d t"><strong>181,217</strong></td>
<td headers="b e t">177,081</td>
<td headers="b f t"><em>4,136</em></td>
<td headers="b g t"><em>2.3</em></td>
<td headers="b c h t">175,459</td>
</tr>
<tr>
<th scope="row"><em>          as a percentage of GDP</em></th>
<td headers="b d u"><em><strong>40.2%</strong></em></td>
<td headers="b e u"><em>39.3%</em></td>
<td> </td>
<td> </td>
<td headers="b c h u"><em>38.8%</em></td>
</tr>
</tbody>
</table>
</div>
</div>
<ol>
<li><span> </span>Using the most recently published GDP (for the year ended 31 March 2026) of $450,959 million (Source: Stats NZ).</li>
<li>Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.</li>
<li>Using BEFU 26 forecast GDP for the year ending 30 June 2026 of $452,159 million (Source: The Treasury).</li>
<li>Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.</li>
</ol>
</div>
</div>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>The Caravel Group’s 5th Annual ESG Report Outlines Strategic Resilience in Global Shipping</title>
		<link>https://livenews.co.nz/2026/06/17/the-caravel-groups-5th-annual-esg-report-outlines-strategic-resilience-in-global-shipping/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Wed, 17 Jun 2026 04:06:52 +0000</pubDate>
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					<description><![CDATA[Source: Media Outreach Refreshed five-year Encompass roadmap highlights accelerated fleet decarbonisation and proactive talent integration as key competitive advantages HONG KONG SAR – Media OutReach Newswire – 17 June 2026 – The Caravel Group, a diversified global conglomerate with core businesses in maritime services, commodity trading and investment management, today released its fifth annual Responsibility ... <a title="The Caravel Group’s 5th Annual ESG Report Outlines Strategic Resilience in Global Shipping" class="read-more" href="https://livenews.co.nz/2026/06/17/the-caravel-groups-5th-annual-esg-report-outlines-strategic-resilience-in-global-shipping/" aria-label="Read more about The Caravel Group’s 5th Annual ESG Report Outlines Strategic Resilience in Global Shipping">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
</p>
<h2 class="mo-black" lang="en" xml:lang="en">Refreshed five-year Encompass roadmap highlights accelerated fleet decarbonisation and proactive talent integration as key competitive advantages</h2>
<div readability="77.496902654867">HONG KONG SAR – Media OutReach Newswire – 17 June 2026 – The Caravel Group, a diversified global conglomerate with core businesses in maritime services, commodity trading and investment management, today released its fifth annual Responsibility Report, Encompass. The report details the Group’s progress, key achievements and future targets in running a sustainable and resilient business, with a particular focus on its ship management subsidiary, Fleet Management Limited.</p>
<p><figure data-width="100%" data-caption="Caravel SustainabilityReport2025 Main Cover" data-caption-display="none" data-image-width="0" data-image-height="0" class="c4"> </figure>
</p>
<p>Guided by the four core pillars of the Encompass strategy—Navigating Responsibly, Evolving Environmental Stewardship, Safeguarding People and Working Together—the 2025 report demonstrates how the Group has successfully translated high-level ESG ambitions into measurable, accountable day-to-day operational practices across ship and shore.</p>
<p>Dr. Harry S. Banga, Founder &#038; Executive Chairman of The Caravel Group, said: “<em>Five years ago, we established Encompass as our guiding compass. This fifth annual report is a testament to how we have built a business trusted to perform responsibly, adapt with discipline and remain relevant in a volatile maritime industry. By formally embedding ESG metrics into performance reviews for all onshore employees and establishing strategic initiatives like our LNG bunkering joint venture, we have ensured that responsibility and performance are no longer separate conversations.</em>“</p>
<p>Key Sustainable Milestones in 2025:</p>
<p><span class="c5">1. Evolving Environmental Stewardship &#038; Accelerated Decarbonisation</span></p>
<ul>
<li>The Group achieved a 42% reduction in managed ship GHG emission intensity from its 2008 baseline, significantly exceeding its established 2030 target of a 30% reduction.</li>
<li>Currently, 74% of the managed fleet is equipped with advanced Energy Saving Devices (ESDs), including high-performance hull paint, Propeller Boss Cap Fins (PBCFs) and variable speed motors, keeping the Group firmly on track to equip 100% of its fleet by 2030.</li>
<li>The Caravel Group entered a strategic joint venture with Celsius Shipping to co-own and operate a new fleet of high-specification LNG bunkering vessels, supporting the maritime sector’s wider transition towards cleaner fuels.</li>
</ul>
<p><span class="c5">2. Navigating Responsibly &#038; Digital Innovation</span></p>
<ul>
<li>The Group continued the active pilot deployment of Captain’s Eye, an AI-powered maritime safety solution using onboard CCTV to detect smoke, leaks and safety hazards in real-time.</li>
<li>Upgrades to PARIS (integrated fleet management platform) and NOVA (data analytics) provided vessel owners with real-time financial, EU ETS and FuelEU Maritime compliance reporting, bolstering transparency and proactive risk management.</li>
</ul>
<p><span class="c5">3. Safeguarding People &#038; Safety Excellence</span></p>
<ul>
<li>Port State Control (PSC) detentions across the fleet plummeted from 22 in 2023 to just 5 in 2025, driven by the Group’s increasingly rigorous safety protocols and strengthened reporting discipline.</li>
<li>The Group recorded an exceptional 91% wellbeing score in its annual employee survey, surpassing its 78% target set for 2028 ahead of schedule.</li>
</ul>
<p><span class="c5">4. Working Together, Talent &#038; Community Engagement</span></p>
<ul>
<li>Following its landmark acquisition of the International Maritime Institute (IMI) in India, the Group integrated a highly reliable, Group-aligned talent channel, welcoming over 500 job-ready cadets to Fleet Management in 2025.</li>
<li>The Caravel Group recorded a 92% employee engagement score and a 93% Diversity, Equity and Inclusion (DEI) score.</li>
<li>In line with its pledge to commit at least 2% of average net profits over the previous three years to social causes, the Group contributed USD 1,529,993 to community partnerships, education initiatives and disaster relief programmes.</li>
</ul>
<p>Mr. Angad Banga, Group Chief Executive Officer of The Caravel Group, added: “<em>In today’s market, sustainability is no longer a future consideration—it is an active operating condition. Regulatory frameworks like FuelEU Maritime and EU ETS carry real economic consequences, and our clients look to us for the systems, judgment and commercial depth to navigate this landscape. By pairing digital tools with a robust talent pipeline through the IMI, we are building organisational capability before the moment it is needed, creating a lasting competitive advantage.</em>“</p>
<p>To explore the detailed performance data, future targets, and the full version of the Encompass: Responsibility Report 2025, please visit The Caravel Group Website: https://www.caravel-group.com/our-impact/responsibility-reports</p>
<p><strong>Hashtag:</strong> #FleetManagementLimited</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
</div>
<p> – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="nofollow">Media-Outreach.com.</a></p>
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		<title>Siam Piwat Reinforces Its “Game Changer” Leadership, Expanding a Global Luxury Ecosystem with World-Class Partners to Unlock New Growth from the Rising HNWIs Economy</title>
		<link>https://livenews.co.nz/2026/06/01/siam-piwat-reinforces-its-game-changer-leadership-expanding-a-global-luxury-ecosystem-with-world-class-partners-to-unlock-new-growth-from-the-rising-hnwis-economy/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Mon, 01 Jun 2026 01:16:50 +0000</pubDate>
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					<description><![CDATA[Source: Media Outreach BANGKOK, THAILAND – Media OutReach Newswire – 1 June 2026 – Siam Piwat Group, owner and operator of Siam Paragon, Siam Center, and Siam Discovery, and joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok, reinforces its “Game Changer” status by announcing a strategic collaboration with world-class titans: BELMOND (LVMH), GALERIES LAFAYETTE, ... <a title="Siam Piwat Reinforces Its “Game Changer” Leadership, Expanding a Global Luxury Ecosystem with World-Class Partners to Unlock New Growth from the Rising HNWIs Economy" class="read-more" href="https://livenews.co.nz/2026/06/01/siam-piwat-reinforces-its-game-changer-leadership-expanding-a-global-luxury-ecosystem-with-world-class-partners-to-unlock-new-growth-from-the-rising-hnwis-economy/" aria-label="Read more about Siam Piwat Reinforces Its “Game Changer” Leadership, Expanding a Global Luxury Ecosystem with World-Class Partners to Unlock New Growth from the Rising HNWIs Economy">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
<p>BANGKOK, THAILAND – Media OutReach Newswire – 1 June 2026 – Siam Piwat Group, owner and operator of Siam Paragon, Siam Center, and Siam Discovery, and joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok, reinforces its “Game Changer” status by announcing a strategic collaboration with world-class titans: <strong>BELMOND (LVMH), GALERIES LAFAYETTE, INSIGNIA,</strong> and <strong>MJETS.<br /></strong></p>
<figure data-width="100%" data-caption="A Monumental Alliance to Elevate ONESIAM Member Privileges" data-caption-display="block" data-image-width="0" data-image-height="0" class="c6" readability="1"><figcaption class="c5" readability="2">
<p><em>A Monumental Alliance to Elevate ONESIAM Member Privileges</em></p>
</figcaption></figure>
<p>This alliance strengthens the Global Privilege Partnership and elevates the Global Luxury Ecosystem. It connects the world of luxury for ONESIAM members and partner patrons through high-value experiences across Thailand and the globe. Currently, Siam Piwat commands over 70% of the luxury market share in Thailand, backed by Asia’s highest-purchasing-power customer base.</p>
<p>By integrating private aviation, ultra-luxury hospitality, premier department stores, and bespoke lifestyle management, Siam Piwat is shaping a “Borderless Luxury Ecosystem.” This milestone solidifies its retail leadership and drives Thailand to become a premier global luxury hub.</p>
<p><figure data-width="100%" data-caption="Siam Piwat Group, Belmond, Galeries Lafayette, Insignia, and MJets unite to elevate Borderless Luxury Ecosystem" data-caption-display="block" data-image-width="0" data-image-height="0" class="c6" readability="3.5"><figcaption class="c5" readability="7">
<p><em>Siam Piwat Group, Belmond, Galeries Lafayette, Insignia, and MJets unite to elevate Borderless Luxury Ecosystem</em></p>
</figcaption></figure>
</p>
<p><strong>Mrs. Saruntorn Asaves, First Executive Vice President at Siam Piwat Co., Ltd.,</strong> stated “Siam Piwat remains committed to its ‘Co-creation &#038; Collaboration’ strategy. In the high-value luxury sector, we possess deep expertise in catering to global High-Net-Worth individuals. In 2025, our premium members recorded expenditures exceeding 1 million Baht per transaction, with annual spending surpassing average customers by 35 times. This year’s partnership aims to elevate Thailand into the Luxury Hub of the World by integrating databases and cross-industry advantages to deliver ultimate privileges.”</p>
<p><strong class="c7">Uniting 4 World-Class Partners into the Global Partnership Ecosystem</strong></p>
<ul>
<li><strong>Elevated Travel Experiences with BELMOND (LVMH):</strong> Revolutionizing travel through curated journeys. Members enjoy 1-1 travel planning and VIP welcomes at legendary hotels or traveling aboard Belmond’s iconic luxury trains worldwide.</li>
<li><strong>Exceptional Services with INSIGNIA:</strong> Elevating lifestyles via 24/7 bespoke client services and highly personalized support, seamlessly curated to fulfil every desire without geographical boundaries, from securing reservations at sought-after restaurants and gaining access to exclusive global events.</li>
<li><strong>Seamless Travels with MJETS:</strong> Completing the puzzle of limitless mobility through bespoke private jet services, elite airport lounge access, and luxury chauffeur transfers directly from the runway to Siam Piwat’s landmarks.</li>
<li><strong>Seamless Shopping with GALERIES LAFAYETTE:</strong> Bestowing exclusive privileges across two continents. In Paris, members enjoy access to a Private Personal Shopping Lounge, dedicated personal shoppers, and expedited tax refunds.</li>
</ul>
<p><strong class="c7">Joining Forces with Global Partners to Offer Curated World-Class Privileges</strong></p>
<p>Beyond these four titans, Siam Piwat’s Global Privilege Partnership network includes international retail leaders such as PARCO (Japan), TAIPEI 101 (Taiwan), Hong Kong Times Square, ION Orchard (Singapore), Pavilion Kuala Lumpur (Malaysia), Plaza Indonesia, FOSUN (China), and Hyundai Department Store (South Korea).</p>
<p><figure data-width="100%" data-caption="Siam Piwat expands its global luxury ecosystem, reinforcing its position as a game changer in luxury retail." data-caption-display="block" data-image-width="0" data-image-height="0" class="c6" readability="2"><figcaption class="c5" readability="4">
<p><em>Siam Piwat expands its global luxury ecosystem, reinforcing its position as a game changer in luxury retail.</em></p>
</figcaption></figure>
</p>
<p>ONESIAM members receive exclusive discounts, promotions, and VIP hospitality abroad. Reciprocally, international partner members visiting Siam Piwat’s destinations enjoy premium privileges, including lounge access and dedicated customer relationship assistance. Furthermore, Siam Piwat has integrated database infrastructures with its partners to analyze customer insights, enabling hyper-personalized offers that foster long-term relationships.</p>
<p>“This synergy marks a monumental step toward borderless growth, establishing a definitive new benchmark for the ultimate luxury lifestyle experience,” concluded Mrs. Saruntorn.</p>
<p> https://www.siampiwat.com/en/home<br /> https://www.linkedin.com/company/siam-piwat/<br /> https://www.facebook.com/siampiwat.official/<br /> https://www.instagram.com/siampiwat_official/</p>
<p><strong>Hashtag:</strong> #SiamPiwat #GameChanger #ONESIAMMember #GlobalPartnershipEcosystem #BorderlessPrivilege #GlobalLuxuryDestination #Bangkok #BELMOND #GALERIESLAFAYETTE #INSIGNIA #MJETS</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
<p>  – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="nofollow">Media-Outreach.com.</a></p>
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		<title>Budget 2026: where are the solutions to climate, biodiversity and fuel crisis? – Greenpeace</title>
		<link>https://livenews.co.nz/2026/05/28/budget-2026-where-are-the-solutions-to-climate-biodiversity-and-fuel-crisis-greenpeace/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Thu, 28 May 2026 05:16:43 +0000</pubDate>
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					<description><![CDATA[Source: Greenpeace Greenpeace is lamenting the paucity of solutions in Budget 2026 to the climate, biodiversity and fuel price crises. “We’re facing twin climate and biodiversity crises, overlaid by a cost of living crisis directly caused by our economy’s dependence on fossil fuels,” says Russel Norman, Greenpeace Executive Director. “Yet the Budget has no plan to ... <a title="Budget 2026: where are the solutions to climate, biodiversity and fuel crisis? – Greenpeace" class="read-more" href="https://livenews.co.nz/2026/05/28/budget-2026-where-are-the-solutions-to-climate-biodiversity-and-fuel-crisis-greenpeace/" aria-label="Read more about Budget 2026: where are the solutions to climate, biodiversity and fuel crisis? – Greenpeace">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">
<div>
<h2><span>Source:</span><span class="gmail-Apple-converted-space"> </span><span>Greenpeace</span><br /></h2>
</div>
<div>
<div>Greenpeace is lamenting the paucity of solutions in Budget 2026 to the climate, biodiversity and fuel price crises.</div>
<div>“We’re facing twin climate and biodiversity crises, overlaid by a cost of living crisis directly caused by our economy’s dependence on fossil fuels,” says Russel Norman, Greenpeace Executive Director.</div>
<div>“Yet the Budget has no plan to decarbonise our economy and hence simultaneously address the cost of living and climate crisis,” says Norman.</div>
<div>“There is no plan to decarbonise the transport sector which is highly dependent on imported fossil fuels and produces a fifth of all New Zealand’s climate pollution.</div>
<div>“The new Road of National Party Significance will cost us $112 million per kilometre but will do absolutely nothing to deal with the cost of transport which is driven by fossil fuel dependence.</div>
<div>“The Budget has money to repair state highways being damaged by extreme weather events but no plan or money to cut the climate pollution that is causing the damage.</div>
<div>“There is no plan to support everyday New Zealanders’ uptake of rooftop solar and batteries which would actually help with the cost of living crisis.</div>
<div>“On the positive side there is an investment of $1 billion in rail and the previously announced, yet begrudging, loan scheme to support businesses to reduce fossil gas use.</div>
<div>“Undermining that, on the biodiversity front, there are further cuts to the Department of Conservation. And the use of $100 million of the International Visitor Levy simply replaces existing baseline funding.”</div>
<div>The Government’s climate policy has resulted in large fiscal costs:</div>
<div>
<ul>
<li>The National Party’s original fiscal plan released in 2023 included $2.1 billion in revenue, over four years, from Emissions Trading Scheme auctions. But these auctions have largely failed due to the weakening of climate policy leaving a large hole in the Government’s revenue.</li>
<li>The Government is allocating $200 million to subsidise oil and gas exploration.</li>
<li>The fiscal impact of the Government decision to weaken the Clean Car Standard directly cost the Government $264 million.</li>
<li>The fiscal impact of subsidising agribusiness climate pollution, by keeping them out of the ETS, is hard to quantify but will be hundreds of millions.</li>
<li>The $23 billion liability for failing to meet the Paris climate agreement.</li>
</ul>
</div>
<div>“Now is not the time for business as usual. Now is the time to embrace our renewable energy future,” says Norman.</div>
</div>
</div>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Boosting capability in schools to grow international education offering</title>
		<link>https://livenews.co.nz/2026/05/13/boosting-capability-in-schools-to-grow-international-education-offering/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Wed, 13 May 2026 06:18:22 +0000</pubDate>
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					<description><![CDATA[Source: New Zealand Government As part of the Government’s work to grow the international education sector, new funding for a dedicated support function will help build sector capability and support schools to attract and manage international students, Education Minister Erica Stanford says. “Through the Govenrment’s Going for Growth plan, we are focused on doubling the ... <a title="Boosting capability in schools to grow international education offering" class="read-more" href="https://livenews.co.nz/2026/05/13/boosting-capability-in-schools-to-grow-international-education-offering/" aria-label="Read more about Boosting capability in schools to grow international education offering">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: New Zealand Government</p>
</p>
<p><span lang="EN-US" xml:lang="EN-US">As part of the Government’s work to grow the international education sector, new funding for a dedicated support function will help build sector capability and support schools to attract and manage international students, Education Minister Erica Stanford says.</span></p>
<p><span>“Through the Govenrment’s</span> <em><span>Going for Growth</span></em> <span>plan, we are focused on doubling the sector’s value to $7.2 billion by 2034. We are already well on our way with enrolments growing 11 percent in 2025,” Ms Stanford says.</span></p>
<p><span>“As part of that, we’re helping to ensure that schools have the resources they need. Today’s commitment will see </span><span lang="EN-US" xml:lang="EN-US">specialist support provided by a tendered organisation with deep knowledge and experience in school-based international education.</span></p>
<p><span lang="EN-US" xml:lang="EN-US">“This will support schools with marketing, resourcing, finding homestays, and with resources to understand their obligations to ensure student wellbeing and safety.</span></p>
<p><span lang="EN-US" xml:lang="EN-US">“The sector has already made strong progress in 2025, with school enrolments continuing to recover toward pre-pandemic levels. This investment will help schools build on that momentum and grow their international programmes with confidence.”</span></p>
<p><span lang="EN-US" xml:lang="EN-US">Ms Stanford says that all schools who choose to participate will be able to benefit this from this support, including those that not yet enrolling international students.</span></p>
<p><span>“International education is a large contributor to New Zealand’s economy. Enabling schools to support more international students will allow this economic growth to continue in a way that is high quality and sustainable.”</span></p>
<p><span lang="EN-US" xml:lang="EN-US">The tender will be available on the Government Electronic Tender Service (GETS) by the end of June 2026.</span></p>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Government brings certainty to climate change tort law</title>
		<link>https://livenews.co.nz/2026/05/12/government-brings-certainty-to-climate-change-tort-law/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Mon, 11 May 2026 19:48:27 +0000</pubDate>
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					<description><![CDATA[Source: New Zealand Government The Government is clarifying climate change laws to provide businesses with certainty around their obligations, Justice Minister Paul Goldsmith says.  “Ongoing litigation in the High Court, where an applicant has brought civil claims against six major businesses for their greenhouse gas emissions, is creating uncertainty in business confidence and investment that ... <a title="Government brings certainty to climate change tort law" class="read-more" href="https://livenews.co.nz/2026/05/12/government-brings-certainty-to-climate-change-tort-law/" aria-label="Read more about Government brings certainty to climate change tort law">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: New Zealand Government</p>
</p>
<p><span>The Government is clarifying climate change laws to provide businesses with certainty around their obligations, Justice Minister Paul Goldsmith says. </span></p>
<p><span>“Ongoing litigation in the High Court, where an applicant has brought civil claims against six major businesses for their greenhouse gas emissions, is creating uncertainty in business confidence and investment that the Government must address.</span></p>
<p><span>“The Government is acting now to provide legal clarity and certainty and to remove the possible development of a new regime that contradicts the framework Parliament has already enacted to respond to climate change.</span></p>
<p><span>“Our government is committed to fixing the basics, and certainty of law is essential for businesses to operate, attracting overseas investment, and stimulating economic growth.</span></p>
<p><span>“Therefore, the Government will amend the Climate Change Response Act 2002 to prevent findings of liability for tort for climate change damage or harm caused by greenhouse gas emissions in both current and future proceedings before the courts. </span></p>
<p><span>“Our response to climate change is best managed by the Government at a national level and not through piece-meal litigation in the courts. New Zealand already has a legal framework to manage greenhouse gas emissions set through Parliament through the Climate Change Response Act 2002 and the Emissions Trading Scheme (ETS). </span></p>
<p><span>“It is essential to maintain the coherence of the regulatory system and to deliver consistent obligations for greenhouse gas emitters.</span></p>
<p><span>“The courts are not the right place to resolve claims of harm from climate change, and tort law is not well-suited to respond to a problem like climate change which involves a range of complex environmental, economic and social factors.</span></p>
<p><span>“This law change will not alter the Government’s responsibilities under the Climate Change Response Act and businesses that have obligations under the ETS will still be required to meet them.”</span></p>
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		<title>Weather warnings issued for South Island, risks of flooding and slips on the West Coast</title>
		<link>https://livenews.co.nz/2026/05/07/weather-warnings-issued-for-south-island-risks-of-flooding-and-slips-on-the-west-coast/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Wed, 06 May 2026 21:12:48 +0000</pubDate>
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					<description><![CDATA[Source: Radio New Zealand There are heavy rain warnings for the north and west of the South Island. METSERVICE / SCREENSHOT Heavy rain is expected for the parts of the South Island through until the weekend with MetService issuing orange heavy rain warnings. MetService said heavy rain was expected for most of the West Coast ... <a title="Weather warnings issued for South Island, risks of flooding and slips on the West Coast" class="read-more" href="https://livenews.co.nz/2026/05/07/weather-warnings-issued-for-south-island-risks-of-flooding-and-slips-on-the-west-coast/" aria-label="Read more about Weather warnings issued for South Island, risks of flooding and slips on the West Coast">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">There are heavy rain warnings for the north and west of the South Island.</span> <span class="credit">  <span itemprop="copyrightHolder">METSERVICE / SCREENSHOT</span></span></p>
</div>
<p>Heavy rain is expected for the parts of the South Island through until the weekend with MetService issuing orange heavy rain warnings.</p>
<p>MetService said heavy rain was expected for most of the West Coast on Thursday morning which would continue through until Friday or Saturday.</p>
<p>There was a risk of surface flooding and slips on the whole of the West Coast, MetService meteorologist Alanna Burrows said.</p>
<p>She said people should avoid low lying areas and drive cautiously on the roads.</p>
<p>The areas likely to experience the heaviest rain on Thursday would be Westland and the Tasman District, Burrows said.</p>
<p>Westland could expect up to 350mm of rain, she said while the Tasman district could see up to 400mm which was a “huge” amount of rain.</p>
<p>The orange heavy rain warnings were in place for Tasman District, northwest of Motueka, Buller District, Westland District, the headwaters of the Canterbury lakes and rivers, headwaters of Otago lakes and rivers and Fiordland north of Doubtful Sound.</p>
<p>The warnings were in place from 12pm on Thursday until Friday evening for Tasman District and from 10am Thursday until 7pm Friday for the Buller District.</p>
<p>The New Zealand Transport Agency warned motorists to prepare for difficult driving conditions.</p>
<p>Along with the heavy rain, the lower North Island could expect severe gales on Friday in Wellington and Taranaki, Burrows said.</p>
<p>Things would ease off on Sunday, she said.</p>
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<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>Climate Change Commission warns NZ ETS could fail without reform</title>
		<link>https://livenews.co.nz/2026/04/26/climate-change-commission-warns-nz-ets-could-fail-without-reform/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Sun, 26 Apr 2026 00:27:50 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2026/04/26/climate-change-commission-warns-nz-ets-could-fail-without-reform/</guid>

					<description><![CDATA[Source: Radio New Zealand 123RF The Climate Change Commission said the Emissions Trading Scheme (ETS) is on track to fail without reform. In its annual advice to the government, the commission warned that the scheme faces huge future volatility and would fail without reform by the 2030s. The ETS is a market in which the ... <a title="Climate Change Commission warns NZ ETS could fail without reform" class="read-more" href="https://livenews.co.nz/2026/04/26/climate-change-commission-warns-nz-ets-could-fail-without-reform/" aria-label="Read more about Climate Change Commission warns NZ ETS could fail without reform">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject">
<p class="photo-captioned__information"><span class="credit">  <span itemprop="copyrightHolder">123RF</span></span></p>
</div>
<p>The Climate Change Commission said the Emissions Trading Scheme (ETS) is on track to fail without reform.</p>
<p>In its annual advice to the government, the commission warned that the scheme faces huge future volatility and would fail without reform by the 2030s.</p>
<p>The ETS is a market in which the government sets a price for greenhouse gas that polluters must pay to emit. The price of units rises over time, incentivising firms to emit less.</p>
<p>The commission has advised the government this year to keep auction unit pricing and volumes the same to prevent price instability.</p>
<p>However, chief executive Jo Hendy said a unit shortfall as early as 2028 could see price spikes and significant economic harm.</p>
<p>She said that could result in factory closures to reduce emissions, rather than investment in decarbonisation.</p>
<p>The government could get ahead of the shortfall by publicly consulting on options to address it, she said.</p>
<p>Forest and Bird fears the scheme will soon be unfit for purpose.</p>
<p>Climate spokesperson Scott Burnett said the market had lost confidence in it, due to recent volatility in prices and recent government policy announcements, such as rolling back action on agricultural emissions.</p>
<p>He said it urgently needed reform and stability to allow businesses to make good investment decisions on decarbonisation.</p>
<p>The Climate Change Commission had been sounding the alarm on the fragile state of the ETS for years, he said.</p>
<p>Climate minister Simon Watts told RNZ in a statement that the government welcomed the commission’s advice, and it would carefully consider that before developing proposals for the ETS auction and unit settings.</p>
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<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>At-risk Canterbury youth to benefit from new fund</title>
		<link>https://livenews.co.nz/2026/04/24/at-risk-canterbury-youth-to-benefit-from-new-fund/</link>
		
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		<pubDate>Fri, 24 Apr 2026 05:02:44 +0000</pubDate>
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					<description><![CDATA[Source: New Zealand Government Hundreds of Canterbury teens at risk of disengaging from education are among the first to benefit from a new Government initiative to double the value of investment for both recipients and the taxpayer, Youth and South Island Minister James Meager says. Christchurch-based Te Ora Hou Ōtautahi has received $750,000 from taxpayers ... <a title="At-risk Canterbury youth to benefit from new fund" class="read-more" href="https://livenews.co.nz/2026/04/24/at-risk-canterbury-youth-to-benefit-from-new-fund/" aria-label="Read more about At-risk Canterbury youth to benefit from new fund">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: New Zealand Government</p>
</p>
<p><span>Hundreds of Canterbury teens at risk of disengaging from education are among the first to benefit from a new Government initiative to double the value of investment for both recipients and the taxpayer, Youth and South Island Minister James Meager says.</span></p>
<p><span>Christchurch-based</span> <em><span>Te Ora Hou Ōtautahi</span></em> <span>has received $750,000 from taxpayers to deliver a 26-week minimum early intervention programme for 300+ young people.</span></p>
<p><span>As the first recipient of the new</span> <em><span>Youth Development Partnership and Innovation Fund</span></em> <span>(YDPIF), the Government is investing alongside matched co-funding of $750,000 from the</span> <em><span>Rātā Foundation</span></em> <span>and</span> <em><span>Wayne Francis Charitable Trust,</span></em> <span>for a $1.5 million investment total.</span></p>
<p><span>“By co-funding alongside other organisations, we are doubling the amount of financial support being brought into the youth sector. This provides twice the opportunity for young people to benefit from these initiatives at no additional taxpayer cost,” Mr Meager says.</span></p>
<p><em><span>“Te Ora Hou Ōtautahi</span></em><span>’s programme, delivered across three years for those aged 12-18, will support school transitions (primary to secondary school), and promote positive, sustained engagement in education for at-risk students.</span></p>
<p><span>“Students will be supported to set goals and plan education pathways, have access to one-to-one mentoring, and take part in group activities that build skills and confidence.</span></p>
<p><span>“The provider will act as a support liaison between the young person, their family, and school. It will also make connections with other community organisations where necessary, enabling a cohesive wraparound approach.</span></p>
<p><span>“Through this community-led support we expect to see an increase in school attendance and improved academic performance, which is a key Government priority as we continue to fix the basics and build the future of New Zealand’s education system.</span></p>
<p><span>“This investment also represents the first step in our new direction for all</span> <em><span>Ministry of Youth Development</span></em> <span>funding to only go to programmes that can demonstrate successful outcomes which align with key government targets.</span></p>
<p><span>“The YDPIF is focused on early intervention programmes which support young people to develop skills and capabilities, contribute to their communities and the economy, and reach their highest potential.</span></p>
<p><span>“The Government continues to seek co-investors for this fund. I encourage any interested business or organisation to get in touch, as I want to see a wide variety of outcomes-based innovative services supported which enable young Kiwis to thrive.”</span></p>
<p><span><strong>Notes to Editor: </strong></span></p>
<ul>
<li><span>The Ministry of Youth Development continues to seek to co-invest with businesses, iwi, trusts, charities, other philanthropic organisations, as well as government agencies through the YDPIF, which is focused on funding outcomes-based, early intervention and prevention programmes that contribute to supporting Government targets and priorities. This includes:</span></li>
<li><span>Fewer people on the Jobseeker Support Benefit.</span></li>
<li><span>Increased student attendance.</span></li>
<li><span>Supporting young parents, aged 12-24 years, with children in their first 2,000 days (aligned with the Child and Youth Strategy).</span></li>
<li><span>Further information on the fund can be found</span> <a href="https://www.beehive.govt.nz/release/new-3m-focus-partnerships-improve-youth-outcomes" target="_blank" rel="noopener noreferrer"><span>here</span></a><span>.</span></li>
<li><span>An Expression of Interest for the YDPIF is available on the Government Electronic Tenders Service (GETS) website.</span></li>
</ul>
<p><span><strong>Attached:</strong> An image of Minister James Meager visiting Te Ora Hou Ōtautahi</span> <span>today is attached, with local MP Hamish Campbell with representatives of Te Ora Hou Ōtautahi, Rata Foundation and Wayne Francis Charitable Trust.</span></p>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Prime Minister Christopher Luxon bats away business concerns over no SailGP funding</title>
		<link>https://livenews.co.nz/2026/04/24/prime-minister-christopher-luxon-bats-away-business-concerns-over-no-sailgp-funding/</link>
		
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		<pubDate>Fri, 24 Apr 2026 01:13:02 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2026/04/24/prime-minister-christopher-luxon-bats-away-business-concerns-over-no-sailgp-funding/</guid>

					<description><![CDATA[Source: Radio New Zealand Prime Minister Christopher Luxon at a media briefing in Christchurch today. RNZ / Louis Dunham Prime Minister Christopher Luxon has brushed off criticisms of his government after days of heated speculation about his leadership. In a media standup at HamiltonJet Global in Christchurch on Friday morning, Luxon brushed off businesses’ concerns ... <a title="Prime Minister Christopher Luxon bats away business concerns over no SailGP funding" class="read-more" href="https://livenews.co.nz/2026/04/24/prime-minister-christopher-luxon-bats-away-business-concerns-over-no-sailgp-funding/" aria-label="Read more about Prime Minister Christopher Luxon bats away business concerns over no SailGP funding">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Prime Minister Christopher Luxon at a media briefing in Christchurch today.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Louis Dunham</span></span></p>
</div>
<p>Prime Minister Christopher Luxon has brushed off criticisms of his government after days of <a href="https://www.rnz.co.nz/news/political/592991/christopher-luxon-lives-on-as-leader-public-perception-is-a-tougher-challenge" rel="nofollow" target="_blank">heated speculation about his leadership</a>.</p>
<p>In a media standup at HamiltonJet Global in Christchurch on Friday morning, Luxon brushed off businesses’ concerns about a lack of funding to bring SailGP back to Auckland.</p>
<p>He has also joked about losing votes in Auckland as a result of his support for the Crusaders, and avoided saying much about a National Party dinner where guests could pay $10,000 to sit next to him.</p>
<p>Auckland events boss Nick Hill told <em>Morning Report</em> he was <a href="https://www.rnz.co.nz/news/sport/593292/nixing-sailgp-described-as-a-significant-loss-by-auckland-events-boss" rel="nofollow" target="_blank">“very disappointed” at the loss of SailGP</a>, saying it was “significant loss” for the City of Sails and blaming a lack of buy-in from the government.</p>
<p>Luxon said the proposal for funding Sail GP in Auckland did not stack up, but distanced himself from it – acknowledging he was not across the details.</p>
<p>“Yeah, look, um, you know, we’ll continue our conversations with Auckland Council and SailGP but the proposal we received just frankly didn’t stack up,” he said.</p>
<p>He was unsure how much money the government was being asked to provide.</p>
<p>“I can’t remember what the proposal specifics was but when we run it through our evaluation criteria, just didn’t stack up.”</p>
<p>He said Tourism Minister Louise Upston would know about the specifics.</p>
<p>“I’m just well aware that when we looked at the cost-benefit ratio, it didn’t meet the criteria … it just didn’t meet the criteria, is all I know.”</p>
<p>He rejected the suggestion from Auckland businesses the government was working against them.</p>
<p>“Ah absolute rubbish. This is a government that’s backed State of Origin into Auckland, it’s a government that’s put a whole bunch of major events into Auckland, it’s invested in the New Zealand International Convention Centre, invested in the CRL, and we’ve made big investments and big support programmes into Auckland.”</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="9">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Prime Minister Christopher Luxon at the stadium’s opening last month, with former All Black Dan Carter and Christchurch mayor Phil Mauger.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Nate McKinnon</span></span></p>
</div>
<p>He was in Christchurch [https://www.rnz.co.nz/news/sport/593268/christchurch-stadium-opening-te-kaha-opens-after-15-year-wait ahead of the first Super Round at the city’s new stadium Te Kaha, when 10 of the Super Rugby Pacific’s 11 teams would all play at the same venue.</p>
<p>Having grown up in the city, he said it was “tough” to say whether Te Kaha had overtaken Eden Park as the national stadium.</p>
<p>“I gotta say, it’s a world class stadium. It was a pleasure to open it three or four weeks ago. I’ll be there tonight,” he said.</p>
<h3>Leadership woes</h3>
<p>Luxon has been under pressure in recent weeks over poor polling numbers and leaks from who he has described as disgruntled MPs.</p>
<p>Coalition tensions turned up a notch this week too, as New Zealand First’s Winston Peters criticised Luxon’s decision to call a confidence vote in himself without informing coalition partners, saying that was unwise and would lead to instability.</p>
<p>Luxon and his deputy Nicola Willis in turn criticised Peters in the media – the first time they have been willing to do so directly and publicly.</p>
<p>Despite all that, he joked about losing support in Auckland, where he holds the seat of Botany.</p>
<p>“I’ll be in my Crusaders kit, I’ll lose 5000 votes in Auckland – but that’s okay, because I’m a Crusaders guy through and through.</p>
<p>“If I’m honest with you, in terms of scale and size, Eden Park’s obviously large and can accommodate certain activity, but I can tell you, I’m going to be coming to Christchurch a lot to see a lot of things down here.”</p>
<p>He said it was important to draw international events like Robbie Williams to New Zealand, as every dollar spent on attracting them was “getting $3.20 back into the local economy here”.</p>
<p>“So it’s fantastic, so exciting and it’s honestly – I don’t know whether you guys have been inside it – but it’s amazing. It’s incredible. It’s covered. We’re so close to the action, you’ll be able to hear the lineout calls, it’s just going to be brilliant.”</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Christopher Luxon at HamiltonJet today.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ/LouisDunham</span></span></p>
</div>
<h3>Christchurch ‘a role model’</h3>
<p>He said Christchurch was a “real role model for how we want New Zealand to ultimately look and feel like”.</p>
<p>“You’ve got incredibly modern, reliable infrastructure. You’ve got a fantastic airport, awesome university, great schools, fantastic infrastructure now with the stadium and the redevelopment that’s taking place, and it’s growing very quickly.</p>
<p>“It’s an affordable city, more affordable city than many other parts of New Zealand, and so things like our planning laws are changing in order to be able to increase the supply of housing across the rest of New Zealand.”</p>
<p>In the four years after the 2010 and 2011 earthquakes devastated the city centre, the John Key-led government provided an estimated $16.5 billion, with about half coming from insurance payouts from the then-Earthquake Commission.</p>
<p>Luxon said there was “plenty of cash around” from private capital, but “whether the government needs to be involved, government doesn’t need to be involved in everything. It’s quite good if we’re not in many cases”.</p>
<p>The ongoing fuel crisis that has resulted from the US and Israel conflict with Iran has been putting additional pressure on government finances after high spending under Labour that aimed to keep the economy growing during the Covid-19 pandemic.</p>
<p>Support for businesses and those struggling with high fuel prices has been limited to “targeted, timely and temporary” spending, with the main component being a $50-a-week increase for working families earning tax credits.</p>
<p>Luxon said New Zealand had managed to secure supplies and there was no disruption there, “but, you know, the world needs peace to be breaking out there”.</p>
<p>He said rhetoric like US President Donald Trump’s was not needed.</p>
<p>“We don’t need escalation.”</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Christopher Luxon speaking today.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ/LouisDunham</span></span></p>
</div>
<h3>More weather concerns</h3>
<p>Luxon’s comments were made shortly before news of more heavy rain lashing the country – causing landslips in Auckland and prompting people to evacuate their homes.</p>
<p>He was asked about a new report out from the Climate Change Commission pointing to a risk before 2030 of a shortfall of Emissions Trading Scheme units possibly resulting in volatile price spikes, but said his main concern was “growth over and above everything else”.</p>
<p>He said the country was “determined to deliver on our climate change commitments, net zero 2050 … and we’re on track to do exactly that”.</p>
<p>“Last quarter this country generated less emissions than we’ve ever had, ever since we started recording in 2010 – and that’s because we’ve got a government that doesn’t just do bumper stickers and slogans and words, we actually do action and investment, as illustrated by our big investments in the renewables energy boom that’s taking place.”</p>
<p>The government’s push towards renewable energy has <a href="https://www.beehive.govt.nz/release/boosting-renewable-energy-through-planning-reform" rel="nofollow" target="_blank">largely been focused on planning changes</a>.</p>
<p>Luxon was also questioned about a National Party fundraising dinner, where property developer Matthew Horncastle paid $10,000 for a ticket to sit next to the prime minister and his wife, Amanda.</p>
<p>When Luxon was asked about how things had gone at the dinner on Thursday, he initially said “with who?”</p>
<p>After the name was repeated, he said “oh, there was a National Party event I was at last night, yeah. But yesterday I was also at a company called Zethos, which was pretty exciting because that’s a startup that’s come out of the engineering school that’s recycling critical minerals here in Christchurch”.</p>
<p>Horncastle has previously said that if he entered politics he would aim to be a National Party prime minister by winning the Christchurch Central seat – which has been a Labour stronghold, with just one National MP holding it since 1946.</p>
<p>Asked if Horncastle was the kind of person he wanted in National, Luxon only said it was a “broad church, and if people want to support us from all sorts of work, as it does for every political party, uh, it was just a party event last night”.</p>
<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>Climate News – Commission advises no change to NZ ETS settings but flags late-2020s risk</title>
		<link>https://livenews.co.nz/2026/04/24/climate-news-commission-advises-no-change-to-nz-ets-settings-but-flags-late-2020s-risk/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Thu, 23 Apr 2026 22:03:21 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2026/04/24/climate-news-commission-advises-no-change-to-nz-ets-settings-but-flags-late-2020s-risk/</guid>

					<description><![CDATA[Source: Climate Change Commission The Climate Change Commission’s routine annual advice on NZ ETS auction settings, released today, recommends keeping auction volumes and price controls the same for now to limit the risk of further price instability and support confidence in the NZ ETS. This year’s analysis also points to a possible unit shortfall risk by ... <a title="Climate News – Commission advises no change to NZ ETS settings but flags late-2020s risk" class="read-more" href="https://livenews.co.nz/2026/04/24/climate-news-commission-advises-no-change-to-nz-ets-settings-but-flags-late-2020s-risk/" aria-label="Read more about Climate News – Commission advises no change to NZ ETS settings but flags late-2020s risk">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">
<div>
<h2><span>Source:</span><span class="gmail-Apple-converted-space"> </span><span>Climate Change Commission</span><br /></h2>
</div>
<div>
<div>
<ul>
<li>The Climate Change Commission’s routine annual advice on NZ ETS auction settings, released today, recommends keeping auction volumes and price controls the same for now to limit the risk of further price instability and support confidence in the NZ ETS.</li>
<li>This year’s analysis also points to a possible unit shortfall risk by the late 2020s. It’s uncertain if and when a shortfall could happen, but it would likely result in volatile price spikes. The Commission advises the Government to consider and consult on options to mitigate this risk.</li>
<li>Auction settings shape expectations and market confidence, which matters for investment decisions, but they have limited reach – auctioned units are a small share of total units, and the NZ ETS covers less than half of domestic emissions.</li>
<li>The NZ ETS will struggle to provide an investment signal by the mid-2030s. The Government needs to start a transparent and consultative process to determine how the NZ ETS can best evolve.</li>
</ul>
</div>
<div><b>No change for the moment, but plan now to address future risk</b></div>
<div>The Climate Change Commission’s regular annual advice on NZ ETS auction unit limits and price control settings recommends keeping settings the same for now, with minor adjustments for technical updates and inflation.</div>
<div>However, the analysis has identified a potential future unit shortfall that could happen as early as 2028, which could result in volatile price spikes that would have serious consequences. A shortfall would mean that more units might need to be auctioned in the future so the NZ ETS can function well, while remaining aligned with emissions targets, but this is uncertain.</div>
<div>“This annual advice is designed to help the Government make regular updates as needed. We’ve identified a potential future unit shortfall, which is concerning but uncertain. Our view is that the best option for now is to hold auction settings steady, get ready to act if needed, and reassess next year when better information is available,” says Jo Hendy, Chief Executive of the Climate Change Commission.</div>
<div>“These recommendations aim to avoid changes that could further unsettle the market, as market participants have told us that sentiment is low.</div>
<div>“While this advice is focused on making the NZ ETS work as well as it can given its existing architecture, bigger reforms are needed for the NZ ETS to be an effective tool in the 2030s. We advise the Government to start developing these reforms carefully and transparently, and with consultation,” says Hendy.</div>
<div><b>A unit shortfall could create price volatility – with serious consequences</b></div>
<div>“For an ETS to support an orderly transition to meet emissions targets, the emissions price should rise steadily over time to encourage the shift to low-emissions options. In contrast, a unit shortfall could cause volatile price spikes – which could force emissions reductions through lower production or factory closures rather than from upgrading to lower emissions technologies and processes,” says Hendy.</div>
<div>“A shortfall could also put the Government under pressure to make ad hoc market interventions, which in the past has been bad for confidence. The Government can get ahead of that by publicly consulting on options to address a future shortfall.”</div>
<div>These recommendations are conditional on the next settings advice and update being in 2027, which the Government has recently confirmed will go ahead. (When the advice was prepared the Government had announced its intent to shift to settings decisions every two years, so the Commission’s advice includes an alternate option for the Government to consider if the next review were not until 2028.)</div>
<div><b>Auction settings are important, but have limited reach</b></div>
<div>NZ ETS auction settings shape expectations and market confidence, which matters for investment decisions, but they have limited reach. Auctioned units are a small share of total units in the system, and the NZ ETS covers less than half of Aotearoa New Zealand’s emissions. This means settings are important, but not decisive on their own.</div>
<div>“Annual auction settings can’t solve the bigger design challenges with the NZ ETS. The scheme covers around 40% of domestic emissions, and that share is declining. Under the current architecture, by the mid-2030s the NZ ETS will struggle to provide an investment signal for either decarbonisation or forestry,” Hendy says.</div>
<div>“We’ve previously advised that the Government needs to start a transparent and consultative process to determine what an effective NZ ETS in the 2030s will look like.</div>
<div>“Investors need credible, well-signalled and consistent policies on the NZ ETS – and on climate change generally – to have confidence that investments in emissions reduction will generate returns.”</div>
<div><b>Resources</b></div>
<div>
<ul>
<li>The advice, a one-page summary, FAQs about the NZ ETS settings 2026 advice, and supporting technical information are available at:<span class="gmail-Apple-converted-space"> </span><a href="https://www.climatecommission.govt.nz/our-work/advice-to-government-topic/nz-ets/our-advice-on-the-nz-ets/nz-ets-2027-2031" target="_blank" rel="noopener noreferrer">climatecommission.govt.nz/nz-ets-2027-2031</a></li>
<li>Explainer: What is the NZ ETS?<span class="gmail-Apple-converted-space"> </span><a href="https://www.climatecommission.govt.nz/get-involved/exploring-the-issues/what-is-the-nz-ets" target="_blank" rel="noopener noreferrer">climatecommission.govt.nz/what-is-the-nz-ets</a></li>
</ul>
</div>
<div><b>Summary of recommendations</b></div>
<div>
<ul>
<li>Unit limits: Maintain the current NZ ETS auction volumes through to 2030 and set 2031 auction volumes on the basis that the surplus of units in the market has been depleted by then.</li>
<li>Price controls: Retain and extend to 2031 the current price control settings, with inflation adjustments from 2029.</li>
</ul>
</div>
<div><b>Unit shortfall risk</b></div>
<div>The risk of a unit shortfall is because the surplus of units has reduced – and may continue to reduce – more quickly than expected. This is mainly due to no units being bought at auctions since late 2024.</div>
<div><b>Scope of the NZ ETS settings advice</b></div>
<div>This annual advice is about recommending NZ ETS unit limits and price control settings for the following five years. The volumes of NZUs available for auction, which this advice focuses on, are only a small proportion of the total units in the system.</div>
<div>Unlike the Commission’s other work, this advice is focused on making the NZ ETS work as well as it can given its existing architecture. This advice discusses some of the wider issues with the NZ ETS, but does not recommend specific policy reform, changes to the ambition of targets or to the Government’s climate strategy. The Commission provides other advice that addresses broader prospects for reducing emissions through the NZ ETS and other mechanisms, and monitors the country’s progress towards meeting emissions targets. The next annual emissions reduction progress report is due in July this year.</div>
<div><b>What happens next</b></div>
<div>The Government will consider this advice and run a public consultation on proposals, led by the Ministry for the Environment on behalf of the Minister of Climate Change. The Commission expects that this will be in the second quarter of 2026.</div>
<div>The Government must make decisions on NZ ETS unit limits and price control settings by 30 September 2026. The new settings will come into force on 1 January 2027.</div>
<div><b>Proposed amendments to the CCRA</b></div>
<div>In 2025, the Government announced its intention to amend the Climate Change Response Act 2002. More information is available at:<span class="gmail-Apple-converted-space"> </span><a href="https://environment.govt.nz/what-government-is-doing/areas-of-work/climate-change/amending-the-climate-change-response-act/" target="_blank" rel="noopener noreferrer">environment.govt.nz/what-government-is-doing/areas-of-work/climate-change/amending-the-climate-change-response-act</a></div>
</div>
</div>
<p><a href="http://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="noopener noreferrer">MIL OSI</a></p>
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		<title>Melco garners six diamonds in the 2026 Black Pearl Restaurant Guide</title>
		<link>https://livenews.co.nz/2026/03/24/melco-garners-six-diamonds-in-the-2026-black-pearl-restaurant-guide/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Mon, 23 Mar 2026 11:32:41 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2026/03/24/melco-garners-six-diamonds-in-the-2026-black-pearl-restaurant-guide/</guid>

					<description><![CDATA[Source: Media Outreach MACAU SAR – Media OutReach Newswire – 23 March 2026 – Melco Resorts &#038; Entertainment has garnered six diamonds in the 2026 Black Pearl Restaurant Guide, further reaffirming the Company’s status as a global leader in fine dining and underlining its commitment to culinary excellence. Jade Dragon at City of Dreams – ... <a title="Melco garners six diamonds in the 2026 Black Pearl Restaurant Guide" class="read-more" href="https://livenews.co.nz/2026/03/24/melco-garners-six-diamonds-in-the-2026-black-pearl-restaurant-guide/" aria-label="Read more about Melco garners six diamonds in the 2026 Black Pearl Restaurant Guide">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
<p>MACAU SAR – Media OutReach Newswire – 23 March 2026 – Melco Resorts &#038; Entertainment has garnered six diamonds in the <em>2026 Black Pearl Restaurant Guide</em>, further reaffirming the Company’s status as a global leader in fine dining and underlining its commitment to culinary excellence.</p>
<p><figure data-width="100%" data-caption="Jade Dragon at City of Dreams - Black Pearl Restaurant Guide Three-diamonds Restaurant" data-caption-display="block" data-image-width="0" data-image-height="0" class="c6" readability="1"><figcaption class="c5" readability="2">
<p><em>Jade Dragon at City of Dreams – Black Pearl Restaurant Guide Three-diamonds Restaurant</em></p>
</figcaption></figure>
</p>
<p>City of Dreams’ signature Cantonese fine dining restaurant <strong>Jade Dragon</strong> secured the <em>Black Pearl Restaurant Guide</em>‘s coveted Three Diamonds accolade for the seventh consecutive year, upholding its status as Macau’s one and only three diamond Chinese restaurant, and was honored the special “Annual Dish Award” for its signature “Steamed Garoupa Fillet on Egg White Custard with Aged Chinese Hua Diao Wine Sauce” course. Innovative Chinese restaurant <strong>Yí</strong> at City of Dreams received One Diamond, marking its seventh year of such achievement. Revering the great traditions and savoir-faire of French cuisine, <strong>Alain Ducasse at Morpheus</strong> maintains its One Diamond status for the third consecutive year, whilst City of Dreams’ tranquil Japanese restaurant <strong>Sushi Kinetsu</strong> upholds its One Diamond honor in the esteemed guide for the third consecutive year.</p>
<p><strong>Mr. Lawrence Ho, Chairman &#038; CEO of Melco</strong>, said, “It is a profound honor for Melco to be recognized once again by the <em>Black Pearl Restaurant Guide</em> in 2026. In addition to the recent achievements in the <em>MICHELIN Guide Hong Kong &#038; Macau 2026</em>, these prestigious accolades are a testament to our unwavering dedication to culinary innovation and our commitment to strengthening Macau’s position as a UNESCO-designated Creative City of Gastronomy.</p>
<p>“This achievement would not be possible without the incredible passion and hard work of our Colleagues. I would like to extend my deepest gratitude to our world-class culinary and front-of-house teams; it is their relentless pursuit of service excellence that allows us to consistently deliver the most memorable and exquisite dining experiences to our guests from around the globe. We remain steadfast in our mission to push the boundaries of luxury hospitality and contribute to the vibrant diversification of Macau’s tourism landscape.”</p>
<p>At the award ceremony which took place today in Singapore, Melco properties’ restaurants received the following honors:</p>
<p><strong>JADE DRAGON – Three Diamonds and Annual Dish Award for “Steamed Garoupa Fillet on Egg White Custard with</strong><strong>Aged Chinese Hua Diao Wine Sauce”</strong><br />Being the only Cantonese restaurant in Greater China awarded with both Three Black Pearl Diamonds and Three MICHELIN Stars, Jade Dragon showcases exquisite culinary masterpieces created with the freshest seasonal ingredients and delectable delicacies. Jade Dragon sets the benchmark for fine dining in Macau with its spectacular designer décor and superlative personalized service. Recent honors and awards include:</p>
<ul>
<li>Black Pearl Restaurant Guide Three Diamonds (2020-2026)</li>
<li>MICHELIN Guide Hong Kong &#038; Macau Three Stars (2019-2026)</li>
<li>Forbes Travel Guide Five-Star rating (2014-2026)</li>
<li>Trip.com Gourmet’s Black Diamond award (2021-2023, 2026), Diamond award (2024-2025)</li>
<li>Harper’s BAZAAR HK’s Restaurant of the Year (2026), BAZAAR Taste Elite Macao (2024-2026)</li>
<li>Tatler Best Awards Asia Pacific’s Best 100 Restaurants (2024-2025)</li>
<li>Tatler Best Awards Hong Kong &#038; Macau’s Restaurant of the Year Macau (2025), Best 20 Restaurants Macau (2025)</li>
<li>Tatler Dining Guide’s Top 20 Macau Restaurants List (2024)</li>
<li>South China Morning Post’s 100 Top Tables (2014-2025)</li>
<li>TARGET ELITE SELECT Awards’ Chinese Restaurant of the Year (2025), Cantonese Restaurant of the Year (2024)</li>
<li>TimeOut Beijing Food &#038; Bar Awards’ Cantonese Restaurant of the Year (2025)</li>
<li>China Feast Restaurants Awards’ Annual Influential Restaurants (2025)</li>
<li>La Liste’s Top 1,000 World’s Best Restaurants (2025)</li>
<li>Wine Spectator’s Best of Award of Excellence (2014-2025)</li>
<li>World Culinary Awards’ Asia’s Best Hotel Restaurant (2025), Macao’s Best Hotel Restaurant (2022-2025)</li>
<li>Travel + Leisure Southeast Asia’s Macau Tastemakers List (2024-2025)</li>
<li>Three Stars in Golden Phoenix Tree China Restaurant Guide (2024-2025)</li>
</ul>
<p><strong>YÍ – One Diamond</strong><br />One-diamond award winner <em>Yí</em>, located on the 21<sup>st</sup> floor Sky Bridge of Morpheus, offers the very heights of innovative fine dining and Chinese cuisine served in a modern seasonal tasting menu format. Its degustation menu is inspired by the 24 Solar Terms of the Traditional Chinese Calendar (Jie Qi), changes 12 times a year and highlights many of the restaurant’s signature dishes. Recent honors and awards include:</p>
<ul>
<li>Black Pearl Restaurant Guide One Diamond (2020-2026)</li>
<li>Forbes Travel Guide Five-Star Awards (2020-2026)</li>
<li>Trip.com Gourmet’s Platinum award (2021-2026)</li>
<li>Harper’s BAZAAR HK’s BAZAAR Taste Elite Macao (2024-2025)</li>
<li>Tatler Best Hong Kong &#038; Macau’s Best 20 Restaurants Macau (2025)</li>
<li>Tatler Dining Guide’s Top 20 Macau Restaurants List (2024)</li>
<li>South China Morning Post’s 100 Top Tables (2019-2025)</li>
<li>China Feast Restaurants Awards’ Best Innovative Restaurants (2025)</li>
<li>Food&#038;Wine The Best Awards’ Hotel Restaurant of the Year (2025)</li>
<li>La Liste’s Top 1,000 World’s Best Restaurants (2025)</li>
<li>Wine Spectator’s Best of Award of Excellence (2022-2025)</li>
<li>Travel + Leisure Southeast Asia’s Macau Tastemakers List (2024-2025)</li>
</ul>
<p><strong>ALAIN DUCASSE AT MORPHEUS – One Diamond</strong><br />Awarded One Diamond, Alain Ducasse at Morpheus redefines legendary French classics with a contemporary vision and sentimental approach to cooking. The restaurant located at City of Dreams sources produce from the best regions which is harvested at its optimal time, highlighting a deep appreciation for nature and an intimate understanding of the seasons. Sourcing from small-scale farms and line-caught fish, the restaurant ensures unparalleled quality and a distinctive tasting experience. Recent honors and awards include:</p>
<ul>
<li>Black Pearl Restaurant Guide One Diamond (2024-2026)</li>
<li>MICHELIN Guide Hong Kong &#038; Macau Two Stars (2019-2026)</li>
<li>Forbes Travel Guide Five-Star rating (2020-2026)</li>
<li>Trip.com Gourmet’s Diamond award (2022-2026)</li>
<li>Harper’s BAZAAR HK’s BAZAAR Taste Elite Macao (2026)</li>
<li>Tatler Best Awards Asia Pacific’s Best 100 Restaurants (2025)</li>
<li>Tatler Best Awards Hong Kong &#038; Macau’s Best Service (2025), Best 20 Restaurants Macau (2025)</li>
<li>Tatler Dining Guide’s Top 20 Macau Restaurants List (2024)</li>
<li>South China Morning Post’s 100 Top Tables (2020-2025)</li>
<li>TimeOut Beijing Food &#038; Bar Awards’ French Restaurant of the Year (2025)</li>
<li>La Liste’s Top 1,000 World’s Best Restaurants (2025)</li>
<li>Wine Spectator’s Best of Award of Excellence (2019-2025)</li>
<li>TARGET ELITE SELECT Awards’ French Restaurant of the Year (2024)</li>
<li>Travel + Leisure Southeast Asia’s Macau Tastemakers List (2024)</li>
</ul>
<p><strong>SUSHI KINETSU – One Diamond</strong><br />Bestowed One Diamond, Sushi Kinetsu at City of Dreams offers authentic Edomae sushi across a beautiful, centuries old Hinoki wood sushi bar. The tranquil restaurant serves seasonal delicacies using only the finest ingredients, crafted by Japanese master chefs. Recent honors and awards include:</p>
<ul>
<li>Black Pearl Restaurant Guide One Diamond (2024-2026)</li>
<li>MICHELIN Guide Hong Kong &#038; Macau One Star (2024-2026)</li>
<li>Trip.com Gourmet’s Diamond award (2024-26), Platinum award (2023)</li>
<li>Harper’s BAZAAR HK’s BAZAAR Taste Spotlight Macao (2026)</li>
<li>Tatler Best Hong Kong &#038; Macau’s restaurant list (2025)</li>
</ul>
<p> https://www.melco-resorts.com<br /> https://hk.linkedin.com/company/melco-resorts-entertainment<br /> https://x.com/MelcoResorts<br /> https://www.facebook.com/MelcoCSR/<br /> Wechat: 新濠博亚娱乐</p>
<p><strong>Hashtag:</strong> #melco #blackpearl #cityofdreamsmacau #jadedragon #alainducasseatmorpheus #sushikinetsu #yi</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
<p>  – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="nofollow">Media-Outreach.com.</a></p>
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		<title>New multi-million dollar plant in Kawerau to become home to Southern Hemisphere first</title>
		<link>https://livenews.co.nz/2026/03/20/new-multi-million-dollar-plant-in-kawerau-to-become-home-to-southern-hemisphere-first/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Thu, 19 Mar 2026 16:38:00 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2026/03/20/new-multi-million-dollar-plant-in-kawerau-to-become-home-to-southern-hemisphere-first/</guid>

					<description><![CDATA[Source: Radio New Zealand Supplied Small-town Bay of Plenty is about to be home to a Southern Hemisphere first with big benefits in the fight against potent greenhouse gases. A new multi-million dollar plant officially opens in Kawerau on Friday to safely destroy harmful synthetic refrigerants. The Trust for the Destruction of Synthetic Refrigerants, which ... <a title="New multi-million dollar plant in Kawerau to become home to Southern Hemisphere first" class="read-more" href="https://livenews.co.nz/2026/03/20/new-multi-million-dollar-plant-in-kawerau-to-become-home-to-southern-hemisphere-first/" aria-label="Read more about New multi-million dollar plant in Kawerau to become home to Southern Hemisphere first">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject">
<p class="photo-captioned__information"><span class="credit">  <span itemprop="copyrightHolder">Supplied</span></span></p>
</div>
<p>Small-town Bay of Plenty is about to be home to a Southern Hemisphere first with big benefits in the fight against potent greenhouse gases.</p>
<p>A new multi-million dollar plant officially opens in Kawerau on Friday to safely destroy harmful synthetic refrigerants.</p>
<p>The Trust for the Destruction of Synthetic Refrigerants, which put $10 million into the plant, said it will significantly reduce that harm.</p>
<p>But it also means the refrigerants won’t have to be shipped offshore.</p>
<p>“The trust has been around since 1993, set up by the industry to deal with CFCs, the old ozone depleting gases,” chairperson Richard Lauder said.</p>
<p>“So we collected them, shipped them to Australia and destroyed them so that we could address the hole in the ozone layer.</p>
<p>“And we’ve since migrated to dealing with their replacement gases, the hydrofluorocarbons, HFCs, which are very high global warming gases.”</p>
<p>Lauder said the Kawerau plant was built to take the risks that come with shipping.</p>
<p>It also means the gases will no longer have to be stockpiled</p>
<p>“Next month we’ll turn the plasma torch on at this plant, it runs at 5000 degrees Celsius – the same temperature as the sun – and we’ll be able to deal with our own waste fluorinated gases here domestically in New Zealand,” he said.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span class="credit">  <span itemprop="copyrightHolder">Supplied / PyroGenesis</span></span></p>
</div>
<p>“Some of these gases are 4000 times more potent than CO2, so to put that into perspective if you release 1 kilogram of gas from your heat pump at home, it might be like driving your car for two years in terms of climate impact.</p>
<p>“So we really need to deal with them appropriately and our Trust believed that setting up a plant on shore was the right thing to do.”</p>
<p>Kawerau was picked because of its industrial past.</p>
<p>“I think from the paper industry in particular we’ve got all sorts of skills and capabilities, it’s also adjacent to new geothermal plants so we can use renewable energy to power out plant, I think it’s a great place to put this thing,” Lauder said.</p>
<p>It will permanently get rid of CFCs, HCFCs and HFCs from synthetic refrigerants.</p>
<p>According to the Ministry for the Environment, it is HFCs or hydrofluorocarbons that make up 94 percent of so-called F-gas emissions.</p>
<p>There are measures in place such as limits on bulk HFC imports and pricing schemes under the Emissions Trading Scheme and a Synthetic Greehouse Gas Levy, it said.</p>
<p>The Trust for the Destruction of Synthetic Refrigerants said the new plant will manage gases at the end of their life.</p>
<p>These are found in heat pumps, commercial refrigeration and air condition systems across the country, it said.</p>
<p>It said while there is a place for recycling and claiming the gases, that extended to fully address climate change, ultimately they need to be safely destroyed.</p>
<p>“The 5000 degrees is required because these F-gases are really stable,” Lauder said.</p>
<p>“So the 5000 degrees breaks them down into individual atoms, we inject steam, we add calcium carbonate, and the chemicals that come out the end are actually just water, CO2 that goes to the atmosphere and calcium fluoride salt which is an inert salt which is in fact what’s in your toothpaste, and we can just dump that to landfill until we can find an alternative use hopefully.”</p>
<p>Laura Revell, an atmospheric chemistry professor from University of Canterbury, said there were benefits to no longer having to ship the gases offshore.</p>
<p>“It has high costs associated with it and it creates a lot of greenhouse gas emissions of carbon dioxide and so on, so by being able to dispose of these gases here in New Zealand means that we are reducing our shipping emissions and contribution to climate change in that way,” she said.</p>
<p><a href="https://radionz.us6.list-manage.com/subscribe?u=211a938dcf3e634ba2427dde9&#038;id=b3d362e693" rel="nofollow" target="_blank">Sign up for Ngā Pitopito Kōrero</a>, <strong>a daily newsletter curated by our editors and delivered straight to your inbox every weekday.</strong></p>
<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>WOLF Strengthens Expansion Plans into APAC</title>
		<link>https://livenews.co.nz/2026/03/13/wolf-strengthens-expansion-plans-into-apac/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Fri, 13 Mar 2026 07:17:38 +0000</pubDate>
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					<description><![CDATA[Source: Media Outreach HONG KONG SAR – Media OutReach Newswire – 13 March 2026 – WOLF, the heritage luxury brand renowned for its precision watch winding technology and expertly handcrafted watch and jewellery boxes and travel cases, announces a significant strengthening of its presence across the Asian market. This expansion marks a pivotal moment in ... <a title="WOLF Strengthens Expansion Plans into APAC" class="read-more" href="https://livenews.co.nz/2026/03/13/wolf-strengthens-expansion-plans-into-apac/" aria-label="Read more about WOLF Strengthens Expansion Plans into APAC">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: Media Outreach</p>
<p>HONG KONG SAR – Media OutReach Newswire – 13 March 2026 – <strong>WOLF</strong>, the heritage luxury brand renowned for its precision watch winding technology and expertly handcrafted watch and jewellery boxes and travel cases, announces a significant strengthening of its presence across the Asian market. This expansion marks a pivotal moment in the brand’s history, reinforcing a commitment to bringing its legacy of craftsmanship and innovation to a discerning clientele throughout the region.</p>
<p><figure data-width="100%" data-caption="Brogue 8 Piece Watch Winder; Brogue 8 Piece Watch Winder, Axis 12 Piece Watch Winder Cabinet, Athos 12 Piece Watch Winder Safe, Zoe Large Jewellery Box, Bella Large Jewellery Box, WOLF x Liberty All Over Ianthe Large Jewellery Box" data-caption-display="block" data-image-width="0" data-image-height="0" class="c6" readability="4.5"><figcaption class="c5" readability="9">
<p><em>Brogue 8 Piece Watch Winder; Brogue 8 Piece Watch Winder, Axis 12 Piece Watch Winder Cabinet, Athos 12 Piece Watch Winder Safe, Zoe Large Jewellery Box, Bella Large Jewellery Box, WOLF x Liberty All Over Ianthe Large Jewellery Box</em></p>
</figcaption></figure>
</p>
<p>Central to this initiative is the appointment and development of a dedicated local team based in Hong Kong, and dedicated local agents appointed throughout the region. By establishing a robust on-the-ground presence, WOLF ensures that its operations across the region are guided by deep regional expertise and an intimate understanding of the local luxury market landscape. This move signifies not merely an acceleration in the market, but a long-term investment in building lasting relationships with partners and collectors who value superior quality.</p>
<p><em>“As a fifth-generation family business, growth for WOLF has always been about more than geography, it’s all about relationships. Expanding our footprint in Asia reflects both the strength of the region and our belief in its future. With a dedicated team on the ground, we are not simply entering markets; we are embedding ourselves within them, ensuring that our craftsmanship, innovation, and family values resonate locally while remaining true to our global heritage.”</em> Simon Wolf, CEO.</p>
<p>The brand will further demonstrate its commitment to the region through a series of appearances at key industry trade shows in the coming months. These events will serve as the premier stage for showcasing WOLF’s celebrated heritage, alongside the unveiling of significant new product launches. These upcoming collections exemplify the brand’s dedication to combining innovative technology with timeless design, offering sophisticated solutions for the protection and preservation of the world’s finest timepieces and jewellery.</p>
<p>Join <strong>WOLF</strong> at:</p>
<ul>
<li><strong>Design Shanghai</strong> from 19<sup>th</sup> to 22<sup>nd</sup> March 2026 at Shanghai Exhibition Centre, China.</li>
<li><strong>Time to Watches</strong> from 14<sup>th</sup> to 19<sup>th</sup> April 2026 at Villa Sarasin, Geneva, Switzerland.</li>
<li><strong>Tokyo Design Lifestyle Week</strong> from 24<sup>th</sup> to 26<sup>th</sup> June 2026 at Tokyo Big Sight, Japan.</li>
<li><strong>Singapore Internal Jewelry Expo</strong> from 9<sup>th</sup> to 12<sup>th</sup> July at Sands Expo &#038; Convention Centre, Singapore.</li>
<li><strong>Hong Kong Watch &#038; Clock Fair</strong> from 1<sup>st</sup> to 5<sup>th</sup> September at Hong Kong Convention and Exhibition Centre, Hong Kong.</li>
</ul>
<p>As WOLF accelerates its growth in this dynamic market, the brand invites media and industry partners to explore the vision behind this expansion. Exclusive interview opportunities are available with Simon Wolf, offering a unique perspective on the company’s over 190-year-old heritage, its strategic direction in Asia, and the meticulous craftsmanship that defines every piece.</p>
<p>To request an interview: marketing@wolf1834.com.</p>
<p><strong>Meet WOLF:</strong><br />WOLF’s global sales teams will be available to introduce customers to the story of WOLF, the over 190-year-old fifth-generation family-owned brand, to show WOLF’s latest collections and discuss a recommended product assortment for their store.</p>
<p>To make an appointment contact: sales@wolf1834.com.</p>
<p><strong>PRESS &#038; MARKETING:</strong><br />Meet with marketing to discover WOLF’s essential retailer asset packs, which contain an invaluable mix of marketing materials for retailers to promote WOLF to their customers.</p>
<p>For marketing or press appointments: marketing@wolf1834.com.</p>
<p><strong>PRESS ASSETS:</strong><br />For e-commerce, lifestyle images and editorial copy, please contact marketing for further content: marketing@wolf1834.com.</p>
<p><strong>Hashtag:</strong> #WOLF</p>
<p><em>The issuer is solely responsible for the content of this announcement.</em></p>
<p>  – Published and distributed with permission of <a href="http://www.media-outreach.com/" target="_blank" rel="nofollow">Media-Outreach.com.</a></p>
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		<title>Economy – Interim Financial Statements of the Government of New Zealand for the seven months ended 31 January 2026</title>
		<link>https://livenews.co.nz/2026/03/05/economy-interim-financial-statements-of-the-government-of-new-zealand-for-the-seven-months-ended-31-january-2026/</link>
		
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		<pubDate>Thu, 05 Mar 2026 00:12:40 +0000</pubDate>
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					<description><![CDATA[Source: New Zealand Treasury Thursday, 5 March 2026 – The Interim Financial Statements of the Government of New Zealand for the seven months ended 31 January 2026 were released by the Treasury today. The January results are reported against forecasts based on the Half Year Economic and Fiscal Update 2025 (HYEFU 2025), published on 16 December ... <a title="Economy – Interim Financial Statements of the Government of New Zealand for the seven months ended 31 January 2026" class="read-more" href="https://livenews.co.nz/2026/03/05/economy-interim-financial-statements-of-the-government-of-new-zealand-for-the-seven-months-ended-31-january-2026/" aria-label="Read more about Economy – Interim Financial Statements of the Government of New Zealand for the seven months ended 31 January 2026">Read more</a>]]></description>
										<content:encoded><![CDATA[<div dir="ltr">
<div class="gmail-site gmail-pre-content" role="region" aria-label="Pre-content">Source: New Zealand Treasury</p>
<p>Thursday, 5 March 2026 – The Interim Financial Statements of the Government of New Zealand for the seven months ended 31 January 2026 were released by the Treasury today. The January results are reported against forecasts based on the Half Year Economic and Fiscal Update 2025 (HYEFU 2025), published on 16 December 2025, and the results for the same period for the previous year.</p>
<p>The key fiscal indicators for the seven months ended 31 January 2026 were overall favourable compared to the forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $6.0 billion. This deficit was $1.9 billion smaller than forecast. Net core Crown debt was lower than forecast by $1.1 billion at $184.3 billion, or 41.9% of GDP.</p>
<p>Core Crown tax revenue was $70.4 billion, broadly in line with forecast (0.1% below), with small offsetting variances across the major tax types.</p>
<p>Core Crown revenue was $77.3 billion, around $0.4 billion (0.6%) below forecast. Revenue from the NZ Emissions Trading Scheme was lower than expected due to the decline in the NZU price since the forecasts were prepared.</p>
<p>Core Crown expenses, at $83.1 billion, were $1.2 billion (1.5%) below forecast, reflecting lower spending across a range of functional classifications.</p>
<p>The OBEGALx deficit was $1.9 billion less than the forecast deficit. This reflects the core Crown variances mentioned above coupled with favourable results from Crown entities and State-Owned Enterprises.</p>
<p>The operating balance was a surplus of $4.0 billion, $4.5 billion stronger than forecast. The variance reflected a favourable OBEGAL result of $1.8 billion and stronger‑than‑forecast net gains on non‑financial instruments ($2.8 billion), partly offset by weaker-than-expected net gains on financial instruments ($0.3 billion).</p>
<p>The core Crown residual cash deficit of $1.9 billion was $0.8 billion smaller than forecast, reflecting lower operating outflows and higher capital cash inflows.</p>
<p>Net core Crown debt at $184.3 billion (41.9% of GDP) was $1.1 billion lower than forecast. This variance was largely driven by the smaller‑than‑forecast core Crown residual cash deficit mentioned above.</p>
<p>Gross debt at $220.6 billion (50.2% of GDP) was $3.6 billion lower than forecast. This reflected lower‑than‑forecast issuances of Euro Commercial Paper and Treasury bills of $1.8 billion and $1.5 billion, respectively.</p>
<p>Net worth attributable to the Crown at $183.5 billion (41.7% of GDP) was $4.6 billion higher than forecast. This favourable variance largely reflects the stronger operating balance result of $4.5 billion, discussed previously.</p>
<div class="gmail-site gmail-content">
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<div>
<div class="gmail-table-responsive">  </p>
<table class="gmail-table gmail-boxData">
<colgroup class="gmail-left"></colgroup>
<colgroup class="gmail-right" span="5"></colgroup>
<thead>
<tr>
<th class="gmail-you-will-align-left" rowspan="2" scope="col"> </th>
<th colspan="4" scope="colgroup"><em>Year to date</em></th>
<th headers="b h" scope="col"><em>Full Year</em></th>
</tr>
<tr>
<th headers="b" scope="col">January<br />2026<br />Actual<span>1</span><br />$m</th>
<th headers="b" scope="col">January<br />2026<br /><em>HYEFU 2025</em><br />Forecast<span>1</span><br />$m</th>
<th headers="b" scope="col"><em>Variance</em><span>2</span><br /><em>HYEFU 2025</em><br /><em>$m</em></th>
<th headers="b" scope="col"><em>Variance</em><br /><em>HYEFU 2025</em><br /><em>%</em></th>
<th headers="b c" scope="col">June<br />2026<br /><em>HYEFU 2025</em><br />Forecast<span>3</span><br />$m</th>
</tr>
</thead>
<tbody>
<tr>
<th scope="row">Core Crown tax revenue</th>
<td><strong>70,392</strong></td>
<td>70,452</td>
<td><em>(60)</em></td>
<td><em>(0.1)</em></td>
<td>124,198</td>
</tr>
<tr>
<th scope="row">Core Crown revenue</th>
<td><strong>77,250</strong></td>
<td>77,683</td>
<td><em>(433)</em></td>
<td><em>(0.6)</em></td>
<td>136,919</td>
</tr>
<tr>
<th scope="row">Core Crown expenses</th>
<td><strong>83,084</strong></td>
<td>84,329</td>
<td><em>1,245</em></td>
<td><em>1.5</em></td>
<td>149,047</td>
</tr>
<tr>
<th scope="row">Core Crown residual cash</th>
<td><strong>(1,923)</strong></td>
<td>(2,753)</td>
<td><em>830</em></td>
<td><em>30.1</em></td>
<td>(14,802)</td>
</tr>
<tr>
<th scope="row">Net core Crown debt<span>4</span></th>
<td><strong>184,335</strong></td>
<td>185,418</td>
<td><em>1,083</em></td>
<td><em>0.6</em></td>
<td>196,987</td>
</tr>
<tr>
<th class="gmail-italic" scope="row"><em>          as a percentage of GDP</em></th>
<td><em><strong>41.9%</strong></em></td>
<td><em>42.2%</em></td>
<td> </td>
<td> </td>
<td><em>43.3%</em></td>
</tr>
<tr>
<th scope="row">Gross debt</th>
<td><strong>220,577</strong></td>
<td>224,211</td>
<td><em>3,634</em></td>
<td><em>1.6</em></td>
<td>227,225</td>
</tr>
<tr>
<th class="gmail-italic" scope="row"><em>          as a percentage of GDP</em></th>
<td><em><strong>50.2%</strong></em></td>
<td><em>51.0%</em></td>
<td> </td>
<td> </td>
<td><em>50.0%</em></td>
</tr>
<tr>
<th scope="row">OBEGAL excluding ACC (OBEGALx)</th>
<td><strong>(6,002)</strong></td>
<td>(7,883)</td>
<td><em>1,881</em></td>
<td><em>23.9</em></td>
<td>(13,852)</td>
</tr>
<tr>
<th scope="row">OBEGAL</th>
<td><strong>(6,458)</strong></td>
<td>(8,236)</td>
<td><em>1,778</em></td>
<td><em>21.6</em></td>
<td>(16,934)</td>
</tr>
<tr>
<th scope="row">Operating balance (excluding minority interests)</th>
<td><strong>4,022</strong></td>
<td>(504)</td>
<td><em>4,526</em></td>
<td><em>–</em></td>
<td>(6,547)</td>
</tr>
<tr>
<th scope="row">Net worth attributable to the Crown</th>
<td><strong>183,485</strong></td>
<td>178,844</td>
<td><em>4,641 </em></td>
<td><em>2.6 </em></td>
<td>172,693</td>
</tr>
<tr>
<th scope="row"><em>          as a percentage of GDP</em></th>
<td><em><strong>41.7%</strong></em></td>
<td><em>40.7%</em></td>
<td> </td>
<td> </td>
<td><em>38.0%</em></td>
</tr>
</tbody>
</table>
</div>
</div>
<p>Using the most recently published GDP (for the year ended 30 September 2025) of $439,709 million (Source: Stats NZ).<br />Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.<br />Using HYEFU 2025 forecast GDP for the year ending 30 June 2026 of $454,497 million (Source: The Treasury).<br />Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.</p>
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		<title>Flexi Fund opens for social &#038; affordable housing</title>
		<link>https://livenews.co.nz/2026/02/27/flexi-fund-opens-for-social-affordable-housing/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Thu, 26 Feb 2026 22:22:43 +0000</pubDate>
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					<description><![CDATA[Source: New Zealand Government Applications have opened for the first round of the Government’s Flexible Fund, paving the way for up to 770 new social homes and affordable rentals for New Zealanders in high housing need, Housing Minister Chris Bishop and Associate Housing Minister Tama Potaka say. “Our Government believes in social housing. For families ... <a title="Flexi Fund opens for social &#38; affordable housing" class="read-more" href="https://livenews.co.nz/2026/02/27/flexi-fund-opens-for-social-affordable-housing/" aria-label="Read more about Flexi Fund opens for social &#38; affordable housing">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: New Zealand Government</p>
</p>
<p><span>Applications have opened for the first round of the Government’s Flexible Fund, paving the way for up to 770 new social homes and affordable rentals for New Zealanders in high housing need, Housing Minister Chris Bishop and Associate Housing Minister Tama Potaka say.</span></p>
<p><span>“Our Government believes in social housing. For families and individuals who are struggling to find a stable, secure place to live, we’re focused on turning housing need into real homes,” Mr Bishop says.</span></p>
<p><span>“Last year we established the Flexible Fund to replace the confusing patchwork of social and affordable housing programmes with a single, contestable fund focused on delivering the right homes, in the right places for the people who need them most. </span></p>
<p><span>“The new system uses detailed data and local insights to identify where housing need is highest and which types of homes are required. This allows providers to bring forward solutions that best meet local demand. Instead of forcing good ideas into rigid categories, we can support interventions that target need and offer strong value for money.</span></p>
<p><span>“Opening the Flexible Fund for applications today marks the next phase of our targeted investment in social housing and affordable rentals.</span></p>
<p><span>“Affordable rentals allow people to pay less than the market rent in a region. They are a missing link in the social housing system. There should be an intermediate option between traditional social housing, where people usually pay 25 per cent of their income, and market rentals.</span></p>
<p><span>“That targeted investment is underpinned by our Housing Investment Plan, released last year, which provides a clear blueprint for where funding will go and how it will achieve the greatest impact. The Flexible Fund is a key part of making sure that happens.</span></p>
<p><span>“The focus is on value for money, strong housing delivery partners, and ensuring public investment provides homes for as many people as possible.</span></p>
<p><span>“The Flexible Fund will support delivery in priority locations including the Far North, South Auckland, Eastern Bay of Plenty, Gisborne–Tairāwhiti, Hastings, and key main centres such as Hamilton, Tauranga, Wellington and Christchurch.</span></p>
<p><span>“The Flexible Fund is part of a wider push to boost social housing and get better results from every dollar spent. Through Budgets 2024 and 2025 we are already delivering more than 2,000 additional homes, including more one-bedroom and accessible homes where they are needed most. We have sharply reduced the number of families stuck in emergency housing motels, and Kāinga Ora is focused on renewing and maintaining its existing stock as part of its turnaround plan.</span></p>
<p><span>“At the same time, we are fixing the wider housing system through our Going for Housing Growth reforms so the market can build more homes overall. The Flexible Fund ensures that alongside those system changes, we are continuing to invest in targeted support for New Zealanders who need it most.”</span></p>
<p><span>“The Flexible Fund will support social housing and affordable rentals delivered by community housing providers, iwi Māori providers and other capable organisations. Applicants will need to demonstrate delivery capability, financial strength, alignment with local housing need, and value for money,” says Mr Potaka. </span></p>
<p><span>“This is about disciplined investment. We want warm, dry, safe homes that meet local need and can be delivered on time and within budget. </span></p>
<p><span>“For many whānau, housing security is the foundation for better health, education and employment outcomes. Iwi providers are often best placed to respond to that need because they understand their communities and the pressures they face. The Flexible Fund gives them a clear pathway to partner with the Government to deliver warm, safe homes that support long-term stability for whānau.</span></p>
<p><span>“Stage one applications open today and close on 24 April 2026.”</span></p>
<p><span><strong>Note to editor:</strong></span></p>
<p><span>Further details are available on the Ministry of Housing and Urban Development website </span><a href="http://www.hud.govt.nz/" rel="nofollow" target="_blank"><span>www.hud.govt.nz</span></a> <span>and on Government Electronic Tenders Service (GETS).</span></p>
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		<title>Forestry sector calls for rates cap after bill increases 570 percent</title>
		<link>https://livenews.co.nz/2026/02/10/forestry-sector-calls-for-rates-cap-after-bill-increases-570-percent/</link>
		
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		<pubDate>Tue, 10 Feb 2026 01:03:25 +0000</pubDate>
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					<description><![CDATA[Source: Radio New Zealand File image. Nick Monro The forestry sector is calling for a cap on rates increases after one forestry blocks rates bill went up 570 percent in a year. The 1100-hectare block near Wairoa managed by agri-advisory firm Lewis Tucker was originally farmland but was bought in 2019 and planted in pines ... <a title="Forestry sector calls for rates cap after bill increases 570 percent" class="read-more" href="https://livenews.co.nz/2026/02/10/forestry-sector-calls-for-rates-cap-after-bill-increases-570-percent/" aria-label="Read more about Forestry sector calls for rates cap after bill increases 570 percent">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">File image.</span> <span class="credit">  <span itemprop="copyrightHolder">Nick Monro</span></span></p>
</div>
<p>The forestry sector is calling for a cap on rates increases after one forestry blocks rates bill went up 570 percent in a year.</p>
<p>The 1100-hectare block near Wairoa managed by agri-advisory firm Lewis Tucker was originally farmland but was bought in 2019 and planted in pines in 2020.</p>
<p>Lewis Tucker said in July last year the Wairoa District Council lifted the annual rates bill from $30,000 a year to $200,000.</p>
<p>The company has submitted on the government’s proposal to simplify local government.</p>
<p>In its submission, it said while it broadly supported the intent to simplify local government it urged limits on differential rates were critical for business confidence.</p>
<p>Executive director Colin Jacobs said the 570 percent rates increase on that one forestry block amounts to $5 million over the lifetime of the forest.</p>
<p>“There’s been no reason given to us as to why a forestry company should pay such large differential rates, what costs are we causing that justifies that increased rate.”</p>
<p>He said the rates increase raised questions about the financial viability of the forest.</p>
<p>“While there has been no explanation for the increase, the assumption is that the extra $5m that this property will now pay in rates over the life of the forest will go to pay for the impact of forestry on roads come harvest time.</p>
<p>“However, Wairoa District Council has applied the differential rating only to forests planted after 31 December 1989, not those planted earlier.</p>
<p>“This suggests that the council’s concern is not the impact of forestry on roading, as a differential rate is being applied only to forests registered in the ETS,” Lewis Tucker’s submission said.</p>
<p>It said there will not be a harvest truck anywhere near this property for at least 25 years.</p>
<p>The company is calling for a cap on or doing away with entirely the amount councils can charge in relation to different land use.</p>
<p>“A cap on rates increases will not prevent exorbitant rates increases for industries targeted by differentials.”</p>
<p>Wairoa District Council’s forestry differentials were changed in 2022 following a review, which sought to better recognise the negative impacts caused by forestry, particularly the hollowing out of rural communities as farmland is converted.</p>
<p>The Forest Owner’s Association unsuccessfully challenged this by Judicial Review in the High Court with the Court of Appeal upholding the council’s rating review.</p>
<p>Association chief executive Dr Elizabeth Heeg said it would like a “soft cap” on differential rates.</p>
<p>“Foresters just want to be a fair member of the community, there are times when it’s appropriate to have differential rates but having a differential where the rates are going up over 500 percent is not fair.</p>
<p>“We’ll be proposing a soft cap that is accompanied by the introduction of good taxation principals and to local government legislation to ensure that when councils are rating us that its based on an actual need in the community and that it’s not just a differential that’s just a secondary form of regulation.”</p>
<p>Wairoa District Council’s chief executive Matt Lawson said the increase in rates related to the change in land use, with the property categorised as vacant forestry before the 2024 Quotable Value revaluation saw it reclassified as exotic forestry.</p>
<p>He said most benefits arising from forestry go out of Wairoa – wages, profits, and opportunities – while, Wairoa was left with the challenge of rural roads impacted by heavy logging trucks.</p>
<p>Meanwhile, Local Government New Zealand has said the proposal to cap rates could undermine efforts to strengthen emergency management.</p>
<p>LGNZ president Rehette Stoltz said while the government has included proposed variations to rates caps for unforeseen and urgent situations, as they are proposed to be primarily available only after a significant event, it limits councils’ ability to invest proactively in reducing risk.</p>
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<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>Country Life: Farming trees the Tāmata Hauhā way</title>
		<link>https://livenews.co.nz/2025/12/20/country-life-farming-trees-the-tamata-hauha-way/</link>
		
		<dc:creator><![CDATA[MIL OSI]]></dc:creator>
		<pubDate>Fri, 19 Dec 2025 18:27:37 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2025/12/20/country-life-farming-trees-the-tamata-hauha-way/</guid>

					<description><![CDATA[Source: Radio New Zealand Launched in 2021 Tāmata Hauhā works primarily with Māori land owners to provide them with strategies and funding to develop their land holdings and make them more productive, primarily through forestry. Gianina Schwanecke / Country Life From growing a few Christmas trees “for fun”, to a diverse range of towering exotics ... <a title="Country Life: Farming trees the Tāmata Hauhā way" class="read-more" href="https://livenews.co.nz/2025/12/20/country-life-farming-trees-the-tamata-hauha-way/" aria-label="Read more about Country Life: Farming trees the Tāmata Hauhā way">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="10">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Launched in 2021 Tāmata Hauhā works primarily with Māori land owners to provide them with strategies and funding to develop their land holdings and make them more productive, primarily through forestry.</span> <span class="credit">  <span itemprop="copyrightHolder">Gianina Schwanecke / Country Life</span></span></p>
</div>
<p>From growing a few Christmas trees “for fun”, to a diverse range of towering exotics and natives – there’s a bit of everything at Tāmata Hauhā’s demonstration farm outside Palmerston North.</p>
<p>“One of the reasons we created this farm is because farmers actually want to come have a look,” founder and chief executive Blair Jamieson told <em>Country Life.</em></p>
<p>Launched in 2021, Tāmata Hauhā works primarily with Māori land owners to provide strategies and funding to develop their land holdings and make the land more productive, mainly through forestry.</p>
<p>It provides the finance for purchasing trees, preparing the land, planting the trees and managing the forest created, as well as carrying out all the administration.</p>
<p>Follow Country Life on <a href="https://podcasts.apple.com/nz/podcast/country-life/id208010659?mt=2" rel="nofollow" target="_blank">Apple Podcasts</a>, <a href="https://open.spotify.com/show/2mBFgtGt5H1eVMXXCQkKXI" rel="nofollow" target="_blank">Spotify</a>, <a href="https://www.iheart.com/podcast/1278-country-life-31125553/" rel="nofollow" target="_blank">iHeart</a> or wherever you get your podcasts.</p>
<p>They grow about 46 exotic and 30 native species of trees across three farm sites.</p>
<p>“You can come here and see nearly every type of forestry system that can be applied.</p>
<p>“We’ve even got silvopasture agroforestry systems behind us, which show you how you can actually continue to graze and actually run a farm and stock underneath those trees.”</p>
<p>With adequate spacing between the trees, Jamieson said the systems also enable farmers to generate carbon credits which offer extra profit through the Emissions Trading Scheme (ETS).</p>
<p>They also offer added benefits like shade and shelter for the stock.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Tāmata Hauhā founder and chief executive Blair Jamieson.</span> <span class="credit">  <span itemprop="copyrightHolder">Gianina Schwanecke / Country Life</span></span></p>
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<p class="photo-captioned__information"><span itemprop="caption" class="caption">Many of the trees on the farm were planted in 2022 and 2023.</span> <span class="credit">  <span itemprop="copyrightHolder">Gianina Schwanecke / Country Life</span></span></p>
</div>
<p>Many of the trees on the farm were planted in 2022 and 2023 – already many stand several metres tall.</p>
<p>There are various types of eucalyptus, elm, paulownia, cypress and poplar, along with different types of pine.</p>
<p>Jamieson said seeing the trees next to each other and understanding their growth helps land-owners in decision-making.</p>
<p>“We support them by saying ‘here is how much you get protected for this type of structuring. Here’s the the native integration you can have for this type of species’.</p>
<p>“I mean, ‘here’s the other options if you wanted to go down the alternative timber production route’.”</p>
<p>While there’s a push to move away from pinus radiata, Jamieson is not totally opposed to it.</p>
<p>“There are a number of people out there in this space who are, you know, just carbon-focused – all about the yield, don’t care what they plant.</p>
<p>“They just want the carbon for the coin and that has led to a number of, you know, outcomes which in the long term are not going to be very good. There’s going to be a lot of pine forests.”</p>
<p>His primary concern is how well these pine forests will be managed, particularly when it comes to large monoculture conversions.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">They grow about 46 different exotic and 30 different native species of trees across three farm sites.</span> <span class="credit">  <span itemprop="copyrightHolder">Gianina Schwanecke / Country Life</span></span></p>
</div>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Here various poplars are being grown to help with erosion control.</span> <span class="credit">  <span itemprop="copyrightHolder">Gianina Schwanecke / Country Life</span></span></p>
</div>
<p>While the Government has introduced tweaks to try and address some of these issues, Jamieson said this had also created uncertainty in the sector.</p>
<p>His view was that pine should be removed from the permanent category in the ETS.</p>
<p>“Encouraging the right type of forestry regimes is all that is needed to actually fix the underlying problem to stop mass farm conversions into pine.</p>
<p>“But that being said […] you can see some of the trees over across the river here are three to four times taller than pine planted at the same age and when you equate that I can actually go into those areas and plant 75 percent native trees, that will stratify and become the dominant canopy over time, I’ll get you there and you’ll make more money than pine and you won’t have the problems and you got more jobs.”</p>
<p>Jamieson said some of their systems, on a per-hectare basis, could create more jobs than farming.</p>
<p>He said it was about using “the right exotic to perform a job for a period of time to enable native growth”.</p>
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<p> – Published by EveningReport.nz and AsiaPacificReport.nz, see: <a href="https://milnz.co.nz/mil-osi-aggregation/" target="_blank" rel="nofollow">MIL OSI</a> in partnership with <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
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		<title>New methane target set in Parliament</title>
		<link>https://livenews.co.nz/2025/12/12/new-methane-target-set-in-parliament/</link>
		
		<dc:creator><![CDATA[LiveNews Publisher]]></dc:creator>
		<pubDate>Fri, 12 Dec 2025 07:05:39 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2025/12/12/new-methane-target-set-in-parliament/</guid>

					<description><![CDATA[Source: New Zealand Government The Government has today passed changes setting a new sensible biogenic methane target, Agriculture Minister Todd McClay and Climate Change Minister Simon Watts say. The Climate Change Response (2050 Target and Other Matters) Amendment Bill passed its third reading today. It updates the biogenic methane component of New Zealand’s 2050 climate ... <a title="New methane target set in Parliament" class="read-more" href="https://livenews.co.nz/2025/12/12/new-methane-target-set-in-parliament/" aria-label="Read more about New methane target set in Parliament">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: New Zealand Government</p>
</p>
<p><span>The Government has today passed changes setting a new sensible biogenic methane target, Agriculture Minister Todd McClay and Climate Change Minister Simon Watts say.</span></p>
<p><span>The Climate Change Response (2050 Target and Other Matters) Amendment Bill passed its third reading today.</span></p>
<p><span>It updates the biogenic methane component of New Zealand’s 2050 climate target and makes several other changes to ensure climate legislation remains fit for purpose.</span></p>
<p><span>“The Government announced in October its common-sense approach to setting a science-based biogenic methane target for 2050, and today we have delivered,” Mr McClay says.</span></p>
<p><span>“The changes we’ve made provide farmers and exporters with certainty and a clear pathway to reduce emissions.</span></p>
<p><span>“At the same time, we can maintain productivity and trade competitiveness.”</span></p>
<p><span>The Government is committed to New Zealand’s domestic and international climate change commitments and agriculture will continue to make an important and fair contribution to achieving this reduction.</span></p>
<p><span>“Our methane targets must be practical for famers, because a climate solution that shuts down farms and sends production overseas to less efficient systems, is not a solution at all,” Mr Watts says.</span></p>
<p><span>“We need to ensure that we are supporting our farmers. That’s why the Government’s approach to reducing agriculture emissions is clear – through technology and partnership we will deliver the reductions we need.”</span></p>
<p><span>This Government is backing innovative technology to meet the target and is already investing more than $400 million with industry to speed up the development and roll-out of methane-cutting tools. The first is expected on farm in 2026, with up to 11 available by 2030.</span></p>
<p><span><strong>The amendments:</strong></span></p>
<ul>
<li><span>Reset biogenic methane target to 14-24 percent below 2017 levels by 2050.</span></li>
<li><span>Legislate a review of the methane target in 2040 to ensure its alignment with science and against progress of key trading partners.</span></li>
<li><span>Requires consideration of protecting food production when setting emissions budgets.</span></li>
<li><span>Removes the requirement for ETS settings to accord with NDCs, clarifying the purpose of the ETS as our key tool to drive domestic emissions reductions.</span></li>
<li><span>Defer the fourth emissions budget as more time is needed to reflect the updated 2050 target.</span></li>
</ul>
<p><span>Passing this Bill also confirms the Government’s decision to retain the current Net Zero target for long-lived gasses.</span></p>
<p><span>“We carefully considered the Climate Change Commission’s proposal to shift the target from net zero to net-negative, assessing the potential impacts on both the economy and the climate. We found that strengthening the target would come at undue economic cost and therefore have retained gasses,” Mr Watts says.</span></p>
<p><span>“Our latest projections show that we are on track to meet the net zero target eight years ahead of 2050.”</span></p>
<p><span>The Government has passed this Bill under urgency to provide certainty for the agriculture sector. </span></p>
<p><span>“The debate over targets has gone on for far too long, and it is now time to move from discussion to action,” Mr McClay says.</span></p>
<p><span>“This decision has been clearly signalled. It was a coalition commitment, and we have maintained transparency throughout the independent methane review.”</span></p>
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		<title>Lost in transition: The businesses trapped by New Zealand’s energy crisis</title>
		<link>https://livenews.co.nz/2025/12/11/lost-in-transition-the-businesses-trapped-by-new-zealands-energy-crisis/</link>
		
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		<pubDate>Wed, 10 Dec 2025 16:46:02 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2025/12/11/lost-in-transition-the-businesses-trapped-by-new-zealands-energy-crisis/</guid>

					<description><![CDATA[Source: Radio New Zealand Rainbow Park Nurseries owner and general manager Andrew Taylor. RNZ / Cole Eastham-Farrelly In the balmy greenhouses of Rainbow Park Nurseries, orchids bloom in perfect rows – a picture of calm that hides how close the operation came to crisis. The South Auckland business – which grows houseplants and trees for ... <a title="Lost in transition: The businesses trapped by New Zealand’s energy crisis" class="read-more" href="https://livenews.co.nz/2025/12/11/lost-in-transition-the-businesses-trapped-by-new-zealands-energy-crisis/" aria-label="Read more about Lost in transition: The businesses trapped by New Zealand’s energy crisis">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow">Radio New Zealand</a></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Rainbow Park Nurseries owner and general manager Andrew Taylor.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Cole Eastham-Farrelly</span></span></p>
</div>
<p>In the balmy greenhouses of Rainbow Park Nurseries, orchids bloom in perfect rows – a picture of calm that hides how close the operation came to crisis.</p>
<p>The South Auckland business – which grows houseplants and trees for major retailers – has just finished a $2.5 million project to get off natural gas. An army of industrial heat pumps now feed two giant hot-water tanks, keeping the glasshouses at up to 28°C through winter nights.</p>
<p>Manager Andrew Tayler is blunt: without public money, it would not have happened.</p>
<p>“We were very lucky we got the funding,” Tayler says. “If we didn’t, we probably would have thrown waste-oil burners on the front of the boilers and walked away.”</p>
<p>Rainbow Park was one of the last companies to receive a major grant from the government Investment in Decarbonising Industry (GIDI) fund before new rounds were frozen and the scheme was branded “corporate welfare” by the coalition. EECA covered roughly a third of the cost – about $880,000 – with the nursery borrowing and doing much of the installation work itself.</p>
<p>With no local examples to learn from, the company relied heavily on the advice of suppliers and consultants – and a lot of hope.</p>
<p>“Bolting 32 heat pumps together and putting them into two enormous hot-water tanks… it was a leap of faith,” Tayler says. “But if we hadn’t, we’d still be in the cycle of sweating every year about the gas – are they going to supply us, what is the price going to be, how is that going to affect our business?”</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">A swathe of heat-pumps warm the water in the huge hot water tank at Rainbow Nurseries. The hot water is then pumped through pipes to warm the glasshouses.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Cole Eastham-Farrelly</span></span></p>
</div>
<p>Rainbow employs more than 90 people. Doubling gas prices, he says, would have “hamstrung” the business. Instead, the nursery now buys certified zero-carbon electricity and uses the savings on its gas bill to pay down the new system.</p>
<p>“We’d have to do what some other businesses are doing – curtailing production, turning the heat off in some compartments, maybe laying off staff, changing what we grow,” Tayler says.</p>
<p>“I do feel like some of the guys that didn’t have the opportunities we have will be finding it very tough.”</p>
<p>Since Rainbow Park switched, <a href="https://www.rnz.co.nz/news/national/568869/why-drilling-for-fossil-fuels-is-not-expected-to-fix-our-energy-crisis" rel="nofollow" target="_blank">the bottom has truly fallen out</a> of New Zealand’s gas market. Supplies are collapsing faster than expected. Long-term contracts have become scarce and expensive.</p>
<p>Factories that rely on gas now find themselves in a strange limbo – unable to secure long-term supply, facing steep price rises, but with little guidance or public funding to help them make massive, costly decisions about their energy future.</p>
<p>The result, energy experts and businesses warn, is a “forced transition”: a messy, unmanaged exit from fossil fuels that risks shuttering plants, hollowing out regional economies and pushing up prices for everyone else.</p>
<p>“Energy transitions work better when people have time to see the signals and make informed decisions,” says energy analyst Richard Hobbs, a partner at Boston Consulting group. “When shocks arrive unexpectedly and timeframes are short – that’s when you get the really bumpy situations.”</p>
<h3>‘We’ve been backed into a corner’</h3>
<p>In Bay of Plenty, Whakatāne Growers heats four hectares of capsicum and chilli glasshouses with a mix of coal and gas. The plan had been to get off coal and move fully onto gas – cleaner and easier to run, with captured CO₂ helping lift yields by up to 20 percent.</p>
<p>Instead, site manager and co-owner Michael Simpson is stuck.</p>
<p>A year and a half ago, the company went to renew its gas contract. Their existing supplier could not even offer one. Two other offers came back – at 40-50 percent higher prices.</p>
<p>“There’s two main issues,” Simpson says. “Supply – it’s never a good thing to not know how the future is going to look – and cost. Gas prices have just exploded, and no one’s had the opportunity to make the best decisions for their business. You’ve got to rush now.”</p>
<p>Whakatāne Growers still runs its gas boiler, but has had to dial back temperatures, focus on efficiency and lean harder on coal.</p>
<p>“We never really stopped using coal, but we didn’t go any further with transitioning away from it – more or less because we didn’t have any option,” he says.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Geothermal power is another option for businesses needed to shift off gas – but it can be expensive.</span> <span class="credit">  <span itemprop="copyrightHolder">Roy Taoho</span></span></p>
</div>
<p>The business has looked seriously at geothermal paired with heat pumps. The numbers were “insane”.</p>
<p>“The capital required was absolutely mind-blowing,” Simpson says. “And with electricity prices going up as well, the running costs were going to be the same, or more. You’re kind of between a rock and a hard place.”</p>
<p>With clear signals and a runway, he says, they could have plotted a path.</p>
<p>“Ten years would have been a lot. If there’d been a clear signal: ‘By this date, you won’t be able to run on gas,’ we could have planned. Instead it feels like gas prices have just exploded with little to no warning.”</p>
<p>Without support, many growers and manufacturers, he says, are simply absorbing the costs, passing some on to consumers and hoping something changes.</p>
<p>“Ultimately, if New Zealand businesses have been backed into this corner, to stay productive and operating we’re going to need some help to transition,” he says. “It’s all good and well to say you’ve got to transition. But if the capital outlay is going to kill half the businesses in the country – and the gas prices kill the other half – what are we going to be left with?”</p>
<h3>No silver bullets here</h3>
<p>New Zealand’s exit from gas was meant to be more orderly than this.</p>
<p>Under the previous government, officials had started work on a Gas Transition Plan, consulting on how to phase down gas while keeping the lights on. The idea was to map out which uses should be prioritised, when new supply would taper off, and how to avoid simply swapping gas for coal when shortages hit.</p>
<p>Alongside it, the GIDI fund helped pay for the hardware needed to switch: electric boilers, high-temperature heat pumps, biomass boilers, and efficiency upgrades in factories, schools and hospitals.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">GIDI funded the switch from old coal and gas boilers to electric.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Cole Eastham-Farrelly</span></span></p>
</div>
<p>The goal was not only to reduce dependence on a fuel in decline – it was to cut emissions. Gas is one of the biggest sources of industrial climate pollution, and GIDI was designed to help firms shift, to help meet our climate goals.</p>
<p>That has now flipped: decarbonisation has become the bonus, with the driver keeping businesses running as supply worsens.</p>
<p>That dual purpose – climate and energy security – is what a “managed transition” was meant to balance.</p>
<p>The current government parked that process. It had its own plan: the idea of “market-led” transition: where the Emissions Trading Scheme (ETS) and price signals will, over time, make fossil fuels too expensive and clean alternatives more attractive. Ministers have argued that public subsidies distort markets, and say a market-led transition will deliver lower costs over time.</p>
<p>The problem is, since they made that decision none of the markets involved have been behaving the way textbooks say they should.</p>
<p>Gas prices for industry have already doubled on average over five years, but new supply is still shrinking and exploration is yet to restart. At the same time, electricity prices are historically high, and security margins are tightening as gas-fired stations age and new renewables lag demand.</p>
<p>Further, the <a href="https://www.rnz.co.nz/news/country/580730/emissions-trading-scheme-year-s-final-auction-fails-to-sell-a-single-carbon-unit" rel="nofollow" target="_blank">ETS carbon price has slumped</a>, with multiple auctions failing to clear, weakening the incentive to invest in lower-emissions technology.</p>
<p>“There’s enough evidence already to show that the market is demonstrably not working,” Optima energy consultant Martin Gummer says. “If the market was right, then as prices have gone up there’d be more gas coming on stream. The opposite is happening.”</p>
<p>In that context, a “market-led” transition risks becoming no transition at all.</p>
<p>And as a result, the country faces the worst of both worlds: emissions stay high while businesses face shortages and huge energy bills.</p>
<h3>‘The bottom has fallen out of the gas market’</h3>
<p>The scale of what might yet happen if New Zealand can not get its energy crisis under control was laid out last month in “Energy to Grow”, a report by Boston Consulting Group for the four main gentailers.</p>
<p>Some of the facts are now well-trodden: New Zealand’s gas supply has fallen around 45 percent in six years. Domestic production now sits below underlying demand. But BCG did future projections too, finding the gas gap is set to worsen rapidly. In one scenario, demand exceeds available gas by roughly 10 petajoules (PJ) in 2026, and double that in 2027.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="7">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">New Zealand’s gas fields are in a state of decline.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Robin Martin</span></span></p>
</div>
<p>Even if big users such as Methanex and Ballance curtail production or exit entirely by 2027, their 28 PJ of demand is not enough to restore balance later in the decade. The market is still short.</p>
<p>In a dry year, the picture is worse. Gas-fired power stations need more fuel to back up hydro lakes, soaking up any spare supply that might otherwise go to industry. BCG warns that without better planning, “industrial demand destruction” – companies shutting or relocating because they can’t secure fuel – could begin as early as 2026.</p>
<p>Earlier advice to ministers from the Ministry of Business, Innovation and Employment (MBIE) and the Electricity Authority (EA) underlines how tight it has become. In July, officials were asked by Resources Minister Shane Jones whether New Zealand could burn more coal at Huntly so gas could be diverted to struggling factories.</p>
<p>On paper, yes: Huntly can run more on coal. In practice, both agencies say, doing so would push up power prices and increase the risk of shortages, especially in a dry winter. The “spare” coal units at Huntly are not spare at all; they are the emergency reserve that keeps the system stable when lakes are low or gas plants fail.</p>
<p>In other words – any extra gas for industry has to come from somewhere else.</p>
<p>“This is a serious and complex problem,” Gummer says. “You can’t just pull one lever and think it will be a silver bullet. The government has to pull all the levers it possibly can.”</p>
<h3>Fear of the unknown: Businesses don’t know when, or how to jump</h3>
<p>For many businesses, the result of the gas shortage has been a state of paralysis.</p>
<p>In a survey of 66 industrial gas users earlier this year, consultancy Optima found strong concern about future availability and pricing, with “low ability to transition in the short term”. Twenty-five percent of respondents had already raised prices to pass on fuel costs; 14 percent had reduced production; eight percent had cut staff.</p>
<p>Of 55 firms, 28 believed they could fully or partly replace their gas use within about three years – but only with help on consents and capital. Together, they could cut demand by about 4.8 PJ a year. The combined capital bill was estimated at $532 million; most said some co-funding would be needed to make the numbers stack up.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="9">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Burning more coal at Huntly wasn’t a viable alternative to gas, officials said.</span> <span class="credit">  <span itemprop="copyrightHolder">GENESIS ENERGY</span></span></p>
</div>
<p>The remaining 23 businesses said they could not get off gas within five years and needed a longer runway of up to 15 years.</p>
<p>The Energy Efficiency &#038; Conservation Authority (EECA) commissioned qualitative research with 25 small and medium gas users – coffee roasters, brewers, pet-food makers, plastics moulders, hothouse growers and others.</p>
<p>It found many run specialist equipment with no cheap, like-for-like electric alternative.</p>
<p>Transitioning often means ripping out perfectly functional gas technology, investing heavily in heat pumps or biomass boilers, and in many cases – like at Rainbow Park – paying for expensive grid upgrades just to get enough power to their site.</p>
<p>The single biggest barrier those businesses identified was uncertainty: about how long gas will be available, if there will be rationing, how high prices will go, whether exploration will restart, whether a promised investment into LNG will arrive, and what happens if they jump early and the government later props the gas market up.</p>
<p>“We never considered the risk to the business of not actually having natural gas,” one participant said. “We always expect that the price could fluctuate… But we never anticipated maybe having no gas coming from the pipeline.”</p>
<p>“What is the priority of the gas supply going to be?” another asked. “If supply is limited, which it already is, how is energy going to be allocated? Who gets it first? Who gets it last?”</p>
<p>EECA chief executive Dr Marcos Pelenur says many firms feel they are being pushed into “make-or-break decisions”: absorb higher costs, invest millions in new plant, or close.</p>
<p>“Gas has declined much faster than most people expected,” he says.</p>
<p>Crucially, however, he does not expect a return to “the good old days”.</p>
<p>“I think it is very likely that we will not have cheap, abundant gas,” Pelenur says. “There are businesses out there hoping gas prices will go back to what they were ten years ago. I do not think that’s going to happen.”</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">EECA says businesses shouldn’t be hanging on to the idea gas will be as cheap as it once was – the future lies in renewable electricity.</span> <span class="credit">  </span></p>
</div>
<p>It is far more likely that the nation will have abundant renewable energy instead, Pelenur says.</p>
<p>His message is that businesses should act now on efficiency – EECA’s walk-through assessments often find 10-30 percent savings – and start planning fuel switches, even if the big projects will take years.</p>
<p>But without a national strategy or substantial funding, that planning sits largely on individual firms: and eventually comes back to the issue of money.</p>
<h3>The devil and the deep blue sea</h3>
<p>For many manufacturers, the choice is not between cheap gas and slightly dearer electricity. It is between paying hundreds of thousands or millions of dollars to replace perfectly functional gas equipment – or taking their chances and hoping the fuel keeps coming.</p>
<p>“Most businesses are caught between the devil and the deep blue sea,” Gummer says – unable to afford the capital cost of transition, yet unable to rely on increasingly volatile and uncertain gas supply.</p>
<p>“It’s painful,” one business owner told EECA’s researchers. “The economics don’t work out on our current return on investment.”</p>
<p>Some talked seriously about shutting rather than transitioning. Others said they are passing costs on to customers, but worry those customers will simply go offshore – a wider risk of deindustrialisation.</p>
<p>Major employers such as pulp and paper mills, wood processors and food plants are deeply woven into local economies. If they close, the knock-on effects hit ports, trucking firms, engineering workshops, schools and shops. Once those jobs are gone, they are hard to replace.</p>
<p>Green Building Council chief executive Andrew Eagles says leaving it to the market is an unnecessary risk.</p>
<p>“You’ve either got a considered transition or a disruptive one that will damage people’s lives – kids leave schools, people move towns, regional economies shrink,” he says. “This isn’t about abstract ideas – it’s real people’s lives.”</p>
<p>BCG estimates that once big users like Methanex and Ballance have exited, every petajoule of additional gas demand destruction hits GDP harder and harder – about $400m for the first PJ, up to $700m for the tenth. Losing 5 PJ could wipe out around $3b of GDP a year; 10 PJ, around $7.3b, or nearly two percent of total GDP.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="9">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Replacing the gas system at Rainbow Park cost more than $2 million – around $800,000 of that came from EECA.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Cole Eastham-Farrelly</span></span></p>
</div>
<p>By contrast, the report suggests that with about $200m of co-funding, New Zealand could displace 10-20 PJ of industrial gas use over the next decade by helping firms switch to electricity and biomass.</p>
<p>“$200 million is a one-off,” Hobbs says. “The cost of not managing the transition is in the billions every year. The benefits to the economy outweigh the costs by quite some margin.”</p>
<p>Effectively, they’re arguing to restart some form of GIDI, which co-funded dozens of projects at an effective support level of around $1.10 per gigajoule saved spread over 15 years.</p>
<p>RNZ asked Energy Minister Simon Watts whether the Government would consider supporting businesses with some kind of transition grant. Watts said he was “aware of the challenges” industrial gas users have been facing with increased costs and difficulties securing contracts”, and outlined several initiatives underway.</p>
<p>The most significant is the <a href="https://www.rnz.co.nz/news/national/579152/the-fuel-of-last-resort-how-imported-gas-became-new-zealand-s-first-choice" rel="nofollow" target="_blank">procurement process for a liquefied natural gas import terminal</a>, which the minister says is intended to bolster security of supply in dry years, support electricity generation during peak periods, and “potentially act as a fuel source for industrial users”.</p>
<p>Alongside exploration incentives, the minister said work was underway to “remove barriers” to growing biogas and biomass as alternative fuels.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Energy Minister Simon Watts says he is aware of the challenges for businesses but would not pledge direct support.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ/Mark Papalii</span></span></p>
</div>
<p>Watts also highlighted broader financing tools that businesses could access – such as bank sustainability loans – and said the Government was working to “de-risk investment in thermal fuel and capacity”, including by improving transparency in the gas market. He did not directly address further questions about demand-side support.</p>
<h3>The path ahead</h3>
<p>The analysts argue New Zealand does not have to chart such a difficult path.</p>
<p>Other countries facing gas shortages have taken a more deliberate approach both for businesses and in residential areas. When the gas crisis hit in Europe during the Russia-Ukraine war, there was a rapid push on energy efficiency, leading to major technological leaps.</p>
<p>In Victoria, Australia, where about 60 percent of homes use gas, the state government has moved to stop new gas connections in subdivisions and require electric hot-water heat pumps when systems are replaced.</p>
<p>But New Zealand has no equivalent national framework to either stop new demand locking into a fuel that is already running out, or managing the current demand.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col" itemscope="itemscope" itemtype="http://schema.org/ImageObject" readability="8">
<p class="photo-captioned__information"><span itemprop="caption" class="caption">Heat pumps can replace fossil fuel in many instances – including at high temperatures.</span> <span class="credit">  <span itemprop="copyrightHolder">RNZ / Cole Eastham-Farrelly</span></span></p>
</div>
<p>Instead, the government has only intervened on the supply side – investigating LNG imports and putting money on the table to extend gas drilling – while demand-side tools have stalled.</p>
<p>“If the government is prepared to look at co-funding LNG and more drilling, they should be prepared to look at co-funding transition for industry,” Gummer says. “You need several strategies – that’s how you disperse risk.”</p>
<p>The experts are clear: the transition is coming any way you look at it.</p>
<p>They say the argument is not about pipes and boilers, or heat pumps and hot water. It is about who carries the costs and risks of an inevitable shift away from fossil fuels.</p>
<p>For Rainbow Park, an early grant and willing partnership from lines companies and power providers turned a looming risk into a triumph of innovation.</p>
<p>For Whakatāne Growers, and dozens of other firms trying to read the tea leaves, the story is very different.</p>
<p>“It’s pretty daunting,” Simpson says. “You’re always thinking about it. Always working on it at home. But without some certainty, there’s not much point making big investments – you don’t know what the right thing to invest in is, or when the right time is.”</p>
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		<title>IKEA’s Hawke’s Bay pine tree expansion flames fears residents will be left to pay</title>
		<link>https://livenews.co.nz/2025/12/05/ikeas-hawkes-bay-pine-tree-expansion-flames-fears-residents-will-be-left-to-pay/</link>
		
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		<pubDate>Thu, 04 Dec 2025 17:12:28 +0000</pubDate>
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		<guid isPermaLink="false">https://livenews.co.nz/2025/12/05/ikeas-hawkes-bay-pine-tree-expansion-flames-fears-residents-will-be-left-to-pay/</guid>

					<description><![CDATA[Source: Radio New Zealand The highly anticipated opening of Swedish furniture company IKEA in New Zealand comes as a rural community worries about the fire risk from pine plantations. Since 2020 IKEA has converted six Central Hawke&#8217;s Bay farms into pine forestry, which they believe makes them the largest forestry owner in the district. This ... <a title="IKEA’s Hawke’s Bay pine tree expansion flames fears residents will be left to pay" class="read-more" href="https://livenews.co.nz/2025/12/05/ikeas-hawkes-bay-pine-tree-expansion-flames-fears-residents-will-be-left-to-pay/" aria-label="Read more about IKEA’s Hawke’s Bay pine tree expansion flames fears residents will be left to pay">Read more</a>]]></description>
										<content:encoded><![CDATA[<p>Source: <a href="https://rnz.co.nz/" target="_blank" rel="nofollow noopener">Radio New Zealand</a></p>
<p>The highly anticipated opening of Swedish furniture company IKEA in New Zealand comes as a rural community worries about the <a href="https://www.rnz.co.nz/news/national/577359/porangahau-residents-want-forestry-law-changes-after-massive-blaze" target="_blank" rel="noopener noreferrer">fire risk from pine plantations</a>.</p>
<p>Since 2020 IKEA has converted six Central Hawke&#8217;s Bay farms into pine forestry, which they believe makes them the largest forestry owner in the district.</p>
<p>This move, combined with the sale of at least four other Hawke&#8217;s Bay farms to overseas forestry companies this year, is sparking concerns from locals about the loss of productive farmland and the risks associated with converting large areas into pines.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img fetchpriority="high" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--8O95nWuj--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764853201/4JYF5K8_20251105_112840_jpg?_a=BACCd2AD" alt="Pine forestry in Hawke's Bay." width="1050" height="787" /></p>
<p class="photo-captioned__information"><span class="caption">At least four other Hawke&#8217;s Bay farms have been sold to overseas forestry companies this year. </span><span class="credit">Photo: RNZ / Alexa Cook</span></p>
</div>
<h3>&#8216;Dumbest thing NZ has done in agriculture&#8217;</h3>
<p>To better understand the scale of this land-use change, Porangahau farmer James Hunter and pilot Joe Faram flew RNZ over thousands of hectares of new pine trees that now cover what had been traditional farmland for generations.</p>
<p>&#8220;This is the dumbest thing New Zealand has done in agriculture,&#8221; Hunter said.</p>
<p>He wants New Zealanders to witness the extent of farmland being planted in forestry.</p>
<p>&#8220;It&#8217;s not just one farm, it&#8217;s farm after farm and I think it&#8217;s the scale of it that people don&#8217;t understand.</p>
<p>&#8220;Suddenly we&#8217;ve got a district that&#8217;s been swallowed, and this is apparently good for the country,&#8221; he said.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--n55oMOL9--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794606/4JYE2ZW_Hawkes_bay_forestry_6_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">A newly planted forestry block in Central Hawke&#8217;s Bay near Pourere, each sprayed circle is a pine tree. </span><span class="credit">Photo: Nick Monro</span></p>
</div>
<ul>
<li><b>More than 1.8 million hectares of New Zealand is planted in pine trees with many farms having been converted since 2008 to earn carbon credits after the Emissions Trading Scheme was introduced. </b></li>
<li><b>This resulted in more &#8216;carbon farming&#8217; where forests are planted for carbon credits and permanently locked up rather than being harvested for timber. </b></li>
<li><b>Swedish furniture company IKEA has bought 28,000 hectares of New Zealand farmland since 2021, with another 10,000 currently pending approval in Northland. </b></li>
<li><b>However, IKEA told RNZ none of its trees have been planted for carbon credits, although they may look at &#8216;some form of offsetting in the future&#8217;. </b></li>
<li><b>A recent report from the Climate Change Commission estimated another 900,000 hectares of land will be converted to forestry by 2050. </b></li>
<li><b>Most of IKEA&#8217;s 4300 hectares of forestry in Central Hawke&#8217;s Bay is near the village of Porangahau, where about 200 hectares of its pine trees went up in flames in October and took days to extinguish because of the high winds grounding helicopters. </b></li>
</ul>
<p>It&#8217;s fires like this that have rural communities on edge, because they say even if the blaze starts on nearby farmland, the forests contain the fuel that feeds them.</p>
<p>&#8220;So the question for the forestry owners is how confident are they that they can stop New Zealand haemorrhaging money chasing fires?&#8221; Hunter said.</p>
<p>&#8220;They&#8217;ve brought basically the equivalent of petrol tankers into these rural districts. Why should we pay for the cost of fighting something while they&#8217;re making extraordinary money?&#8221;</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--bWu1i75b--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764795616/4JYE6BP_hawkes_bay_foresty_2_jpg?_a=BACCd2AD" alt="Alexa Cook and James Hunter" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Porangahau farmer James Hunter took RNZ reporter Alexa Cook up in a helicopter to get a clearer view of the extent of pine plantings across the region. </span><span class="credit">Photo: Nick Monro</span></p>
</div>
<p>Hunter believed there&#8217;d been &#8216;no thought to firefighting&#8217;, especially in high winds.</p>
<p>&#8220;I want to see them have to put in their own water supplies. And I want some confidence that they can fight a fire when the helicopters are not able to fly &#8211; and if the helicopters are not able to fly, what happens to the rest of us downwind?&#8221;</p>
<p>He&#8217;s concerned that Fire and Emergency New Zealand (FENZ) didn&#8217;t have the resources to deal with major blazes. FENZ said it&#8217;s primarily funded through the Fire and Emergency levy, which is collected on contracts of fire insurance. However, there is no mandatory requirement for foresters to insure.</p>
<p>&#8220;We do not have a separate breakdown of levy contributions from forestry companies,&#8221; a FENZ spokesperson said.</p>
<p>&#8220;Other than funding from the levy, Fire and Emergency does not receive any additional dedicated funding to fight forestry fires.&#8221;</p>
<p>The organisation said it was &#8220;confident in its ability to respond effectively to forestry fires&#8221;.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--sCaJLgC4--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764853202/4JYF3AM_20251105_121738_jpg?_a=BACCd2AD" alt="Pine forestry in Hawke's Bay." width="1050" height="787" /></p>
<p class="photo-captioned__information"><span class="caption">About 200 hectares of IKEA&#8217;s Central Hawke&#8217;s Bay forestry went up in flames in October. </span><span class="credit">Photo: RNZ / Alexa Cook</span></p>
</div>
<p>IKEA&#8217;s forestland country manager Kelvin Meredith told RNZ the company, like many other forestry owners, did not have fire insurance.</p>
<p>&#8220;We don&#8217;t insure for fire. It&#8217;s prohibitively expensive in New Zealand,&#8221; he said.</p>
<p>The Forest Owners Association said about 30 to 40 percent of plantation forest estate was insured. It varied year to year as owners reviewed their risk management.</p>
<p>&#8220;Standing crop insurance is becoming increasingly unaffordable, so &#8211; like other rural landowners &#8211; forest owners weigh the cost, risk and benefits each year,&#8221; it said.</p>
<p>&#8220;Some companies choose to self-insure and invest heavily in their own firefighting capability, which in turn strengthens rural fire response more broadly.&#8221;</p>
<p>Meredith agreed that there is a lot of fuel in a forest but said it provided fire plans to FENZ and worked closely with it to mitigate the fire risk.</p>
<p>&#8220;What we can do is have decent fire breaks and decent fire plans in place so if it does break out, the key consideration is that no one&#8217;s life is in danger.</p>
<p>&#8220;I can&#8217;t speak for all forest owners, but I think we&#8217;re relatively well prepared in the event of a fire,&#8221; said Meredith.</p>
<p>Hunter said if forest owners weren&#8217;t contributing financially to FENZ, or properly mitigating the fire risk, then it&#8217;s unfair on farmers who did pay fire insurance levies and were investing in fire protections.</p>
<p>&#8220;So you want to go and plant your trees? Cool. Don&#8217;t leave me with the costs.&#8221;</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--FLCke6zi--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794576/4JYDZMX_Hawkes_bay_forestry_1_jpg?_a=BACCd2AD" alt="Porangahau Farmer" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Farmer James Hunter is worried forestry companies aren&#8217;t taking the fire risk seriously. </span><span class="credit">Photo: Nick Monro</span></p>
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<p>There&#8217;s also currently no mandatory requirement for forestry owners to reduce or mitigate fire risk, but the Forest Owners Association said $21 million a year was spent on fire protection.</p>
<p>Nationally, FENZ had 15 formal service-level agreements with major forestry companies that outlined resource sharing arrangements and joint responsibilities during wildfire events, and said three more were being finalised.</p>
<p>FENZ wouldn&#8217;t provide forestry fire plans to RNZ, but said there was ongoing investment in training and technology to ensure they remained well-prepared as fire risks evolved &#8220;due to climate and land-use changes&#8221;.</p>
<p>&#8220;Fire and Emergency remain committed to working with all stakeholders to protect people, property, and the environment from the growing threat of wildfires.&#8221;</p>
<p>IKEA said it would consider supporting calls for legislation requiring all landowners, from farmers to foresters, to mitigate fire risk and invest in fire protections.</p>
<p>&#8220;If it&#8217;s practical and effective and can be implemented in an effective manner. It&#8217;s no good writing a piece of legislation that only half the population is going to follow,&#8221; said Meredith.</p>
<h3>&#8216;I&#8217;m embarrassed to be a New Zealander&#8217;</h3>
<p>Pilot Joe Faram has been fighting forestry fires for decades. He&#8217;s had a front row seat witnessing Hawke&#8217;s Bay&#8217;s landscape steadily change from farms to pines.</p>
<p>&#8220;The transition has been very vast over the last 15 years &#8230; a lot of that mindset has been detrimental to the betterment of New Zealand.</p>
<p>&#8220;I&#8217;m embarrassed to be a New Zealander, it&#8217;s shameful,&#8221; he said.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--mQl16p1x--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794601/4JYE67S_Hawkes_bay_forestry_17_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Pilot Joe Faram has been fighting fires from the air for decades and worries the risk is increasing. </span><span class="credit">Photo: Nick Monro</span></p>
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<p>As a pilot, he said there was a lot of pressure on aerial fire-fighting resources because it&#8217;s often the main tool for containing a forestry blaze.</p>
<p>He&#8217;s concerned the increase in pine trees is creating a bigger fire risk.</p>
<p>&#8220;Because there&#8217;s more material, there&#8217;s more fuel. We&#8217;re certainly putting ourselves in a dangerous situation, so you&#8217;re managing risk control.</p>
<p>&#8220;By a little bit of good fortune and luck, we have had fires, but we&#8217;ve managed to suppress them quite effectively. But one day, the Swiss cheese will line up and we will have a fire that, instead of putting it out in two or three days, it could be up to a month,&#8221; he said.</p>
<p>It&#8217;s a fear shared by Porangahau hapu Ngāti Kere. Chairperson David Tipene Leach has been in discussions with IKEA since 2022.</p>
<p>&#8220;They came to the marae, they talked to us, they told us what they had to offer.</p>
<p>&#8220;When you look back on it a couple of years later, actually there&#8217;s not much to offer.&#8221;</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--pNnopsu3--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794581/4JYDWFK_Hawkes_bay_forestry_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">David Tipene Leach feels the spread of forestry in Hawke&#8217;s Bay is like another wave of colonisation for Ngāti Kere. </span><span class="credit">Photo: Nick Monro</span></p>
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<p>Since the fire in October, he&#8217;s written to IKEA on behalf of the hapu, urging it to remove the pine trees planted closest to the village in an area known as Stoneridge.</p>
<p>&#8220;If you look around the world, and certainly in this day and age, we look into Canada and into the States and other places, and you see the huge forest fires that are occurring in these big plantations, we&#8217;ve got to be worried about that sort of stuff.</p>
<p>&#8220;With regard to exit and entry from our little isolated town, they&#8217;re planting, planting all along the road. You can&#8217;t get out of our town if the forests are burning,&#8221; he said.</p>
<p>However, IKEA said it&#8217;s unlikely it would remove trees.</p>
<p>&#8220;As far as taking the whole Stoneridge face out of trees, I can&#8217;t see that happening. What we need to do is meet with the community and understand what are the real concerns here related to fire,&#8221; said Meredith.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--Gr_o6IkH--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794632/4JYE30L_Hawkes_bay_forestry_7_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">An area of new pine plantings in Central Hawke&#8217;s Bay. </span><span class="credit">Photo: Nick Monro</span></p>
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<p>For Tipene Leach, there&#8217;s a sense of sadness around seeing farmland planted in pine.</p>
<p>&#8220;It&#8217;s kind of like this is just another, you know, I don&#8217;t want to sound silly, but another wave of colonisation that Ngāti Kere has to deal with.</p>
<p>&#8220;Us small hapu, we&#8217;re fighting for survival here. We&#8217;re not really fighting to change the world. We&#8217;re just fighting to maintain our little bit of the world.&#8221;</p>
<p>He worried the <a href="https://www.rnz.co.nz/news/national/580602/calls-for-government-to-stump-up-359-million-for-forestry-response" target="_blank" rel="noopener noreferrer">pine problems seen in Tai Rāwhiti</a> with slash and community loss were creeping down the East Coast, and Hawke&#8217;s Bay was set to make the same mistakes.</p>
<p>&#8220;The forestry people will tell us, don&#8217;t worry, we&#8217;ve all learned since then.</p>
<p>&#8220;But they are commercial operators who are out there to make a buck where they can, and so I&#8217;m not sure that we have any reason to trust them,&#8221; Leach said.</p>
<p>Forest Owners Association chief executive Elizabeth Heeg said commercial foresters did want to make a return on their investments, but the returns were slow to be realised and forest owners were highly motivated to protect the environments and communities their trees grew in.</p>
<p>&#8220;Part of this is adapting to climate change and with increasing numbers of significant storms, foresters are very focused on adapting their forest and harvest management plans to prevent and prepare for incidents where forest waste leaves their land.</p>
<p>&#8220;Our forests are a vast resource and with greater collaboration across the industry and other sectors, using woody biomass for energy generation, more timber in construction, and increasing domestic processing, New Zealand has a significant opportunity to gain far greater value from them,&#8221; said Heeg.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--Z90qDfCj--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794595/4JYE5ET_Hawkes_bay_forestry_14_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Pine forestry in southern Hawke&#8217;s Bay </span><span class="credit">Photo: Nick Monro</span></p>
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<p>IKEA said while it couldn&#8217;t answer for all foresters, the company was &#8220;pouring cash into the country&#8221;.</p>
<p>&#8220;We&#8217;re planting forests &#8230; we&#8217;re buying native seedlings, we&#8217;re employing local contractors, employing planting crews &#8230; and we won&#8217;t realise a return for 28 years.</p>
<p>&#8220;We&#8217;re not extracting a lot of cash out of the country for the benefit of an offshore entity, that&#8217;s for sure,&#8221; said Meredith.</p>
<p>He said IKEA had put a &#8220;little bit of a pause&#8221; on buying farmland at the moment and was buying existing forests instead.</p>
<p>The timber grown in New Zealand would be used in IKEA&#8217;s furniture, however, it&#8217;d be shipped overseas for manufacturing.</p>
<p>&#8220;The sad situation we&#8217;re in is you can actually send logs to places like China and bring back products made in those countries cheaper than we can do it here.</p>
<p>&#8220;We&#8217;d love to manufacture here. We&#8217;d love to support local processing but it&#8217;s just the economics are tough.&#8221;</p>
<h3>Government taking forestry fire risk &#8216;seriously&#8217;</h3>
<p>Forestry Minister Todd McClay told RNZ the government took the risk of forest fires seriously and had strengthened its approach in recent years.</p>
<p>&#8220;There has been a wide package of work across prevention, readiness, and response. This includes updated guidance for landowners and councils, better coordination between the New Zealand Forest Service and Fire and Emergency New Zealand, and ongoing investment in research, risk mapping, and seasonal forecasting,&#8221; he said.</p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--VeewXpKz--/c_crop,h_1200,w_1920,x_0,y_80/c_scale,h_1200,w_1920/c_scale,f_auto,q_auto,w_1050/v1764213495/4JXA1HN_Todd_McClay_2_jfif?_a=BACCd2AD" alt="Minster for Trade and Investment Todd McClay at a stand up on trade and investment at the Beauty Lab Collective in Auckland on 27 November 2025." width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Forestry Minister Todd McClay. </span><span class="credit">Photo: Nick Monro</span></p>
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<p>When asked if the government was considering legislation changes so that it&#8217;s mandatory for all landowners to reduce or mitigate fire risk, the minister said they already have responsibility for managing their property against the risk of fire.</p>
<p>&#8220;It&#8217;s important to note that 98 percent of wildfires in New Zealand are caused by human activity and often spread into forests.</p>
<p>&#8220;It&#8217;s also important to note that under the Fire and Emergency New Zealand Act 2017, FENZ have the authority to require a landowner to create and clear a firebreak on their property if it believes this is needed to help control fires.&#8221;</p>
<p>He believed forestry owners were doing enough to reduce the risk of fires on their land.</p>
<p>&#8220;Large forestry companies often have their own firefighting teams, equipment, and water supplies. Getting full insurance against fire damage is difficult, so some forestry owners choose to self-insure or buy partial coverage.</p>
<p>&#8220;Ultimately, the financial risk of losing trees to fire sits with the forest owner,&#8221; McClay said.</p>
<p><i>*RNZ was taken up on the flight by farmer James Hunter to give a snapshot of the land use change in the area. </i></p>
<div class="photo-captioned photo-captioned-full photo-cntr eight_col "><img loading="lazy" decoding="async" src="https://media.rnztools.nz/rnz/image/upload/s--iycSnfgP--/ar_16:10,c_fill,f_auto,g_auto,q_auto,w_1050/v1764794598/4JYE5VN_Hawkes_bay_forestry_16_jpg?_a=BACCd2AD" alt="Hawkes Bay Forestry" width="1050" height="700" /></p>
<p class="photo-captioned__information"><span class="caption">Forestry in Hawke&#8217;s Bay </span><span class="credit">Photo: Nick Monro</span></p>
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