Minister for Mental Health Matt Doocey has today announced the government is delivering more frontline workers and establishing new services for people in need of a better crisis response.
“When someone takes the brave step of reaching out, I want that support to be there,” Mr Doocey says.
“Today I’m announcing a $61.6 million funding boost to deliver a better crisis response:
Crisis assessment teams – 40 additional frontline clinical staff for crisis assessment and treatment teams nationwide.
Peer-led acute alternatives – two new 10-bed peer-led acute alternative services to reduce inpatient ward admissions.
Peer support in emergency departments – three more EDs will receive peer support workers, on top of the eight already launched.
Crisis Recovery Cafés – two new cafés, bringing the total to eight across the country.
“We don’t want people in distress waiting long periods of time for a crisis assessment. With 40 extra clinical staff, more New Zealanders will get faster access to crisis support.
“People in crisis shouldn’t be waiting too long for an inpatient bed. Peer-led acute alternative services provide more choice for people experiencing mental health issues, and get people seen quicker.
“We’re already hearing great feedback about peer support workers in emergency departments. Rolling out peer support workers in more EDs will result in a better crisis response and more people being better supported.
“I’m determined to grow the peer support workforce. Crisis Recovery Cafes offer a peer-led, non-clinical space where people in distress can go to get support.
“Today’s announcement builds on Budget 2025, which invests $28 million to roll out 10 mental health co-response teams across the country to respond to 111 mental distress calls and adds additional crisis helpline capacity.
“We’ve already implemented a 60-minute handover from the Police to emergency department workers for people arriving in distress to an ED.
“When someone takes the brave step to reach out, whether it’s you, your child, a friend, or a family member we’re committed to ensuring the right support is always there to answer that call. This package goes a long way in making sure that’s possible.”
Legislation to protect productive farmland by limiting farm-to-forest conversions is now in place, marking a campaign promise fulfilled, Agriculture and Forestry Minister Todd McClay says.
The Climate Change Response (Emissions Trading Scheme – Forestry Conversion) Amendment Act came into effect on 31 October 2025 and forest owners will notice these changes in the Emissions Trading Scheme (ETS) system from this week.
“Through this Act the Government delivered on protecting food production, supporting rural communities, and ensuring foresters can continue to invest with confidence,” Mr McClay says.
The legislation restricts exotic forests from entering the ETS on Land Use Capability (LUC) class 1-6 land – New Zealand’s most productive soils – with certain exceptions, including for Māori-owned land and erosion-prone areas.
Farmers will retain flexibility to plant some land should they choose.
Transitional exemptions from the restrictions are available for those who can demonstrate both a clear interest in the land and a qualifying forestry investment made between 1 January 2021 and 4 December 2024.
“Farming and forestry are both important to our regional economies and communities and this Government is supporting both sectors to create jobs and grow exports,” Mr McClay says.
The Ministry for Primary Industries (MPI) has worked to keep the sector well informed, including running webinars to explain the new restrictions. Its website has been updated to include the changes and guidance documents.
Dedicated MPI staff will continue to provide specific support.
The Maritime Union of New Zealand (MUNZ) says the findings from an official inquiry on the Manahau barge grounding obtained by media show the vessel was unsuitable for conditions and have absolved crew that were blamed for the grounding.
A Maritime New Zealand investigation summary obtained by media confirms MUNZ’s claims from the outset of the 2024 incident at Westport.
Maritime Union of New Zealand National Secretary Carl Findlay says the union and its members are not surprised by the findings.
“MUNZ stated from day one that the Manahau was an inappropriate, underpowered vessel for the rugged West Coast,” says Mr. Findlay.
He says WMS previously attempted to “throw the crew under the bus,” by releasing its own in-house report to blame the crew for the grounding.
However, according to documents obtained by the media, it has been found WMS failed to document and implement a safe system of work for anchoring, particularly in adverse conditions.
WMS also failed to follow safe operational procedures when adverse weather conditions prevented safe access to Westport, and it failed to consult, co-operate with, and co-ordinate safe operating procedures with StarHigh Asia Pacific PTE Ltd, the company it contracted to manage the vessel’s safety management system.
WMS claim to be concerned for ‘its people’ had no credibility at this point, says Mr. Findlay.
“They have tried to weasel their way out of responsibility all the way.”
He says it is “bizarre” WMS had apparently accepted the formal warning from Maritime NZ but was continuing to refer to its own in-house report which contradicts the official findings.
“There are only two reports that count – the report from Maritime New Zealand and the forthcoming report from the Transport Accident Investigation Commission (TAIC). These are independent and credible authorities.”
The Manahau was a foreign-flagged vessel, operated by a foreign crew who were denied access to union support in the immediate aftermath of the grounding, and who were repatriated as soon as possible by their employers.
Mr Findlay says at a time of high unemployment for skilled New Zealand workers, WMS were seeking to use foreign crews and foreign-flagged vessels that are not fit for purpose.
“A qualified New Zealand crew would have understood the treacherous conditions of the West Coast.”
MUNZ says the required outcome is for Maritime NZ to insist the company finds a suitable, safe new vessel for any future West Coast operations, operating under a New Zealand flag.
That vessel must be crewed by a New Zealand crew.
Mr Findlay says MUNZ would be happy to assist WMS to find a qualified New Zealand crew that were paid at New Zealand market rates once they source an appropriate new vessel.
The Government has released an investigative report showing Eden Park planning restrictions could be costing hundreds of millions of dollars in lost revenue with hundreds of fewer jobs and is inviting public feedback on proposed changes, RMA Reform Minister Chris Bishop says.
“Eden Park is a vital asset for Auckland and for New Zealand, hosting major sporting and entertainment events that inject millions into the local economy,” Mr Bishop says.
“Restrictive local planning rules, however, are stifling Eden Park’s ability to drive economic growth and create jobs, according to the investigative report.
“The report looks at whether local planning rules – such as strict limits on the number and timing of concerts and sporting events – are restricting Eden Park’s capacity to contribute further to Auckland’s economic growth.
“The investigation found that restrictions on Eden Park’s operations will cost the region at least $432 million in lost income with 751 fewer jobs over the next 10 years, unless changes are made.
“On Monday I wrote to the Council with a copy of the report. They have 20 working days (until 28 November) to come back with their feedback.
“Today, as well as releasing the report, we invite the public to give feedback on the recommended changes to the planning rules relating to events at Eden Park.”
Recommendations in the Eden Park report include:
Enabling a broader range of uses such as markets, fairs, trade fairs, cultural, and community events
Permitting 12 large concerts (30,000+ people) and 20 medium concerts (10-30,000) each calendar year
More flexibility on timing for concerts, including permitting concerts of up to eight hours duration
More flexibility for sports games
Three levels of noise standards with different noise limits for everyday activities, sports games, and concerts
Removal of size limits for conferences and large functions
Currently, Eden Park’s event restrictions include:
A limit of six artists for a total of 12 concerts per year, with strict conditions on days, times, and event duration
A cap on the number of night-time sporting fixtures with controls on scheduling, particularly on Sunday evenings
Limiting conferences and functions to a maximum of 2,000 attendees
“These rules were originally put in place in an attempt to balance use of Eden Park as a venue with the local community’s preferences around noise and traffic levels. However it’s important to ensure the rules remain fit for purpose and do not unnecessarily hold back Auckland’s event and tourism sectors,” Mr Bishop says.
“We know that big concerts deliver big economic benefits. For instance, over three years, 14 Auckland shows including Coldplay and Pearl Jam generated $33.7 million for the local economy.
“Tourism is already our second-largest export earner and contributes $17 billion to GDP as well as providing nearly 200,000 jobs. We want to see the sector continue to grow.
“The conferences and convention sector is also growing. Last year it grew 10 per cent and delivered over $280 million to the New Zealand economy, creating jobs and opportunities for New Zealanders.
“The Government is committed to making sure our planning system supports economic growth and vibrant communities.
“A public consultation process on the proposed Eden Park rule changes begins today and will run until 19 November 2025 via the Ministry for the Environment’s online consultation hub.
“I encourage people – particularly local residents and business owners – to give feedback through this process.
“Following the consultation, I will consider what changes are warranted to create local jobs and boost economic growth for the region and hope to make further announcements by the end of this year.”
Details on how to participate in the consultation and access the full investigation report are available on the Have Your Say section area of the Ministry’s website.
Note to editor:
The report, a comparison table and the consultation form are available on the Ministry for the Environment’s website.
Police continuing to investigate the shooting incident at Pukehinau Flats in Brooklyn, Wellington, on Sunday afternoon are appealing to anyone with further information to come forward.
Detective Senior Sergeant Tim Leitch says Police are still to determine exactly what occurred in the lead up to the shotgun being discharged.
“We do know that a person wearing a balaclava and carrying a shotgun approached a flat on level 4 of Block A,” he says.
“An altercation occurred that resulted in a shot being discharged along the hallway as the victim ran away from the offender.
“Fortunately, the victim was not injured by the shot, however he did sustain injuries as he jumped from the southern end second-floor balcony to escape the offender.”
Detective Senior Sergeant Leitch says this incident is extremely concerning to Police, as this was a targeted attack that exposed the victim to extreme risk of serious harm.
“This reckless action was very upsetting for other innocent building residents, who could have easily been inadvertently injured.”
A scene examination and area canvass has been completed, and CCTV from the area is being collected.
Anyone that has footage of the area around the scene, or was passing by at the time and has dashcam footage, is asked to contact Police via 105.
“There are several pedestrian accessways into the flats from surrounding streets, and a vehicle access from Brooklyn Hill Road the offender may have used,” Detective Senior Sergeant Leitch says.
“Someone will have seen the offender before or after the incident and we urge them to contact us.
“Others will know who was responsible, and we ask they make contact also,” he says.
HANOI/ ABU DHABI, VIETNAM – Media OutReach Newswire – 4 November 2025 – The Vietnam Exposition Center (VEC) and dmg events have announced a strategic partnership and launch their first collaborative initiative – aglobal energy congress and exhibition. Operated under an exclusive brand model, thisglobal eventis expected to become a new international platform connecting the renewable energy, power, hydrocarbons, energy storage, hydrogen, low-carbon technology, utilities sectors, within one integrated ecosystem, advancing cooperation, investment, and innovation in the global energy transition.
Mr. Geoff Dickinson, CEO of dmg events (left), and Ms. Trần Mai Hoa, CEO of VEC (right), at the signing ceremony.
The global energy congress & exhibition, jointly initiated by VEC and dmg events, will be hosted in Hanoi, Vietnam – the new destination for the energy industry in Asia. Beyond showcasing advanced technologies and global cooperation models, this event also contributes to shaping the strategy of “globalizing green energy,” connecting Vietnam and Asia Pacific with the global flow of sustainable energy development.
The inaugural event will take place in December 2026 and is expected to run for four days, bringing together more than 800 domestic and international companies across the renewable energy, electricity, hydrocarbons, energy storage, hydrogen, low-carbon technology, and utilities sectors, along with 1,500 delegates and 180 international speakers from over 50 countries, fostering practical values in sustainable energy transition. Its program will include in-depth conferences, business matchmaking forums, exhibitions, technology showcases, and green-transition model experience designed to promote regional cooperation, investment, and innovation.
With its international scale, the global energy congress & exhibition aims to become a key meeting hub for policymakers, investors, and the global innovation community, where stakeholders can convene, collaborate, and develop solutions to pressing challenges in energy security, the green transition, and sustainable development. The event will also emphasize the core values of “just energy transition” and “sustainable collaboration,” aligning with the strategic directions of the Government of Vietnam under the Just Energy Transition Partnership (JETP) and the Southeast Asia Energy Transition Partnership (ETP). This demonstrates Vietnam’s strong commitment to achieving net-zero emissions by 2050 and facilitating capital flows into green, renewable, and clean technologies.
The launch of the global energy congress & exhibition marks the beginning of a long-term partnership between VEC and dmg events to develop and organize international exhibitions and congresses in Vietnam, positioning the country as a new regional hub for cooperation, knowledge exchange, and investment – a leading destination for global exhibitions in the future.
“Asia Pacific’s energy story is entering a new phase — one defined by balance, collaboration, and scale,” said Christopher Hudson, President at dmg events. “This global congresswill be where industry leaders come together to turn ambition into execution — connecting capital, policy, and innovation across every energy system.”
Ms. Tran Mai Hoa, CEO of Vietnam Exposition Center, added: “The partnership between VEC and dmg events marks a strategic step toward positioning Vietnam as a new energy hub for the region. With thisglobal event, we aim to create a platform with the scale and influence needed to drive policy dialogue, attract high-quality capital flows, and unlock breakthrough initiatives for the energy transition. This is not just an event, it is a foundation for Vietnam to contribute more proactively and substantially to the energy architecture of Southeast Asia and the world.”
Southeast Asia is entering a period of profound energy transition. Regional energy demand is forecast to rise by up to 60% by 2040, while required investment is estimated at over USD 200 billion annually. Infrastructure needs may exceed USD 3 trillion by 2030. These figures firmly position Southeast Asia at the center of the global energy landscape, driving collaboration, innovation, and large-scale capital deployment to ensure sustainable growth. Vietnam – a dynamic economy targeting GDP growth of 8% in 2025 and double-digit expansion between 2026 and 2030 – has emerged as a key driver of international investment, especially in renewable energy and infrastructure.
The strategic partnership between VEC and dmg events will not only create a channel for capital flows and technology transfer into Vietnam but also help establish the country as a focal point for global-scale congresses and exhibitions. This partnership also opens opportunities for both parties to further develop additional international exhibition models in the future, with the aim of advancing economic development, cultural exchange, international engagement, and the growth of MICE tourism.
Hashtag: #Vingroup #VEC #dmg
The issuer is solely responsible for the content of this announcement.
DÜSSELDORF, GERMANY – Media OutReach Newswire – 4 November 2025 – Global AI energy brand Conow has officially launched the next-generation home micro-energy storage system, CBE2000 Pro, priced at €1099. Combining a powerful inverter, AI-driven energy management, and modular storage design, the new model delivers an efficient, intelligent, and plug-and-play energy solution for modern households.
Guided by its vision of “Bringing smart energy to every home,” Conow aims to make energy management simple, smart, and sustainable. The CBE2000 Pro merges the plug-and-play convenience of balcony solar with the robust performance of home battery systems, offering an all-in-one setup that enhances energy independence, cuts electricity bills, and accelerates the shift toward a greener future.
Equipped with a 2500W bi-directional inverter, the CBE2000 Pro supports both on-grid and off-grid operation. In on-grid mode, it automatically adjusts charging and discharging according to fluctuating electricity prices—optimizing cost savings through Time-of-Use (ToU), Dynamic Tariff (compatible with over 800 energy providers), and Winter Modes. In off-grid mode, it delivers up to 5000W peak output and a 10ms seamless switchover, ensuring uninterrupted power during outages. The modular battery system can expand from 2–12 kWh and scale up to 36 kWh in parallel, with 2600W PV input and four MPPTs, enabling users to save up to €1,116 per year.
Powered by Conow’s proprietary AI HEMS (Home Energy Management System) powered by Tuya, the device integrates with the Tuya ecosystem, which features over 3,000 “Works with Tuya” products across multiple categories. This enables users to connect and control HVAC systems, EV chargers, and other home appliances seamlessly via the CONOW ECO App. The AI Energy Assistant provides real-time insights, troubleshooting, and dynamic energy scheduling that learns household consumption patterns. By analyzing electricity prices and weather forecasts, it intelligently prioritizes the best energy plan.
Built for resilience, the CBE2000 Pro features IP65-rated protection, reliable indoor and outdoor performance from -20°C to 50°C, and an intelligent BMS with self-heating capability. With 6000 cycles and a 10-year warranty, it ensures long-term reliability.
Grounded in its core values of Power, Resilience, and Intelligence, the CBE2000 Pro is more than a storage device—it’s a gateway to energy freedom powered by AI.
Hashtag: #Conow
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 4 November 2025 – KPMG is pleased to announce the successful conclusion of the Digital Assets Forum: Policy, Market Dynamics and Institutional Adoption, held on 31 October 2025. The event convened over 200 industry leaders, regulators, and subject matter experts to explore the rapidly evolving digital assets landscape. They engaged in in-depth and comprehensive discussions on digital assets, real-world assets, and regulatory developments. The forum featured keynote speeches from Mr Joseph Chan, Under Secretary for Financial Services and the Treasury, and Dr Eric Yip, Executive Director (Intermediaries) at the Securities and Futures Commission (SFC), who highlighted Hong Kong’s strategic vision for digital assets.
As Hong Kong pursues its ambition to become an international hub for digital assets, recent initiatives such as the Virtual Asset Trading Platform (VATP) and the Stablecoin Bill have signalled strong regulatory momentum. The 2025 Policy Address further reinforced this direction, unveiling plans to expand digital assets products and services for professional investors.
During the forum, a series of parallel sessions were held around key topics on digital assets development, with a focus on regulatory updates and policy focus, global market and regional landscapes, implications and business opportunities, and current developments in real-world assets and tokenisation.
Ivy Cheung, Senior Partner in Hong Kong SAR and Vice Chairman of KPMG China, says: “As a leading global financial hub, Hong Kong is poised to embrace digital assets as an integral part of its future. With strong regulatory frameworks and government support, the city is laying the foundation for a thriving digital assets ecosystem. This forum reflects the momentum we’re seeing across sectors, as institutions, innovators, and regulators come together to shape the future. At KPMG, we are proud to play a role in facilitating these conversations and supporting the industry’s growth through our insights and expertise.”
Vivian Chui, Head of Securities and Asset Management, Hong Kong SAR, KPMG China, says: “We are witnessing significant enthusiasm from companies eager to establish or grow their digital assets operations in Hong Kong. The city’s clear regulatory framework and forward-thinking policy environment are instilling confidence in businesses. By fostering an environment where regulatory certainty meets innovation-friendly policies, Hong Kong is catalysing a wave of bold investments and transformative advancements in the digital assets industry, solidifying its role as one of the global leaders in this rapidly evolving sector.”
To support the fast-developing digital asset sector, Hong Kong is progressing swiftly to refine its regulatory framework. Investors can now access licensed Virtual Asset Trading Platforms (VATP), engage in Exchange Traded Funds (ETFs) investing in cryptocurrencies, or utilise certain SFC-Licensed Corporations as brokers. Furthermore, consultations by the FSTB and SFC on virtual asset dealing and custodians have recently concluded, with finalised regulations expected to be published soon.
The stablecoin bill, effective from August 2025, has generated considerable market interest and the HKMA is piloting various projects, including tokenised deposits and CBDCs, which will support blockchain-based transactions. On top of these developments, there remains further opportunities in areas such as real-world assets tokenisation, cryptocurrency derivatives, and staking.
Simon Shum, Partner, Financial Services, KPMG China, says: “Hong Kong’s digital assets ecosystem is entering a pivotal phase, where regulatory clarity and market innovation are converging to unlock unprecedented opportunities. The city is rapidly assembling a comprehensive framework, with regulations for ETFs, VATP, and stablecoins already in place, and consultations underway for virtual asset dealing and custodian rules. As the sector matures, navigating its complexities demands both expert guidance and a forward-looking mindset.”
The successful hosting of the Digital Assets Forum underscored the importance of cross-sector collaboration in shaping the future of digital assets. By fostering dialogue among diverse stakeholders, the event provided a platform for aligning strategies, addressing challenges, and identifying pathways for growth. Looking ahead, KPMG remains committed to leveraging its deep expertise and global network to foster innovation, support institutional adoption, and contribute meaningfully to the development of a robust and inclusive digital assets ecosystem.
Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
HAI PHONG, VIETNAM – Media OuReach Newswire – 4 November 2025 – Indochina Kajima, the joint venture between Indochina Capital and Kajima Corporation, and ITOCHU Corporation held a ground-breaking ceremony for Core5 Vietnam’s second industrial project in Hải Phòng at Deep C 2 Hai Phong Industrial Zone.
The project will deliver approximately 80,000sq.m of world-class ready-built factory space for lease, with a handover expected in Q1/2027. Photo courtesy of the firm
The project will deliver approximately 80,000sq.m of world-class ready-built factory space for lease, with a handover expected in Q1/2027.
Core5 Hai Phong Phase 2 is an expansion of Core5’s first project in Việt Nam, leveraging its strategic location only 20-25 minutes from Đinh Vũ port and Lạch Huyện Deep Sea port, 30 minutes from Cát Bi International Airport, and two hours from Hà Nội’s central business district.
Enabling seamless logistics and convenient domestic and international travel, the project provides international standard accommodation for ready-built factories for lease with terraced and mezzanine designs, ranging from 2,994sq.m to 24,912sq.m. Each unit is equipped with necessary utilities connections, the latest firefighting and protection system, a depressed dock in an enclosed docking bay, 24/7 security, CCTV and Core5 Vietnam signature curved curtain wall office.
With sustainability embedded in the Core5 DNA, Core5 Hai Phong Phase 2 supports tenants’ ESG strategies by following LEED Silver-certified green building design, with energy efficiency from construction to operations, full solar rooftop planned for the project, EV chargers available and well landscaped, designated health and wellness areas with greenery and water features to ensure wellbeing for all tenants and employees.
Core5 Vietnam offers a one-stop solution supporting tenants in market entry, supply chain study, pre-and-post licensing services, customisation of the leased area and in accounting and business development to ensure seamless business operations for tenants and partners.
The assets are also managed by Indochina Kajima’s in-house facility management team, enabling timely response to maintenance issues, tailored solutions and added value based on long-term relationships and understanding of tenants’ businesses, driven by exceptional local know-how.
At the ground-breaking ceremony, Indochina Capital Executive Chairman Peter Ryder said: “Our expertise in luxury hospitality and our attention to architectural excellence provide a signature value offering for Core5 industrial assets. Core5 Hai Phong Phase 2 is the next step in our journey of delivering a comprehensive, customisable solution for tenants looking for high-quality, sustainable, flexible property solutions for accelerated expansion and efficient business operations.
“From 2025 to 2030, Hải Phòng has plans to complete the development of international gateway ports at Lạch Huyện and Nam Đồ Sơn, while implementing a free trade zone linking seaports to road, rail and air networks, and both phases of Core5 Hai Phong, along with our Wink Hotel Hai Phong, will support the city in this path on becoming a modern international logistics hub.”
Meanwhile, ITOCHU Vietnam General Director Kamikawa Tatsuya said: “The second phase of Core5 Hai Phong is also designed to provide flexible, high-quality rental factory spaces that meet the diverse needs of global enterprises as well as medium-sized and small companies. ITOCHU is a conglomerate engaged in a wide range of business fields, including the development and operation of Lạch Huyện Port.
“In the real estate sector, we have extensive experience in industrial properties both in Japan and overseas. Leveraging our comprehensive business expertise and global corporate network, ITOCHU will contribute to maximise the value of this project, supporting our tenants’ business growth and generating new jobs as well as further economic and industrial development for Hải Phòng City.”
Ready-built factories in Việt Nam have gained popularity recently, reflected in Core5 Vietnam’s portfolio with projects in Quảng Ninh and Hai Phong Phase 1 fully leased, while Core5 Hung Yen remains at an 80 per cent occupancy rate.
In addition to Hai Phong Phase 2, Indochina Kajima is also developing a double-phased Core5 Phu Tho, and planning for Core5 Quang Ninh Phase 2 and Core5 Hai Phong Phase 3.
Hashtag: #IndochinaKajima
The issuer is solely responsible for the content of this announcement.
Climate Change Minister Simon Watts has released a new Assessment Framework for Carbon Removals, alongside a range of improvements to New Zealand’s climate change legislation.
“The Carbon Removals Assessment Framework is a crucial step toward recognising and rewarding non-forestry carbon removals in New Zealand, unlocking new opportunities for landholders and businesses,” Mr Watts says.
This new framework delivers a priority action from the second Emissions Reduction Plan, showcasing the Government’s commitment to climate action that grows the economy and supporting emissions reductions. It also delivers an election promise to investigate biodiversity credits to reward the creation of new wetlands, recognising their enormous potential.
“We have been clear on the important role that nature-based solutions and credible markets play in our climate response,” Mr Watts says.
“The framework will support any landholder, project owner, or group interested in accessing a carbon market, to understand whether their project or activity has the environmental and scientific rigour needed to enter those markets.
“Forestry is already a critical part of our climate response, but we also want to enable businesses and organisations to explore other ways to reduce emissions. We are progressing work to help farmers and landholders access pathways for recognition and reward for activities that remove carbon from the atmosphere on farm, including opportunities around rewetting peatlands.”
Alongside the Framework, the Government is making targeted changes to the Climate Change Response Act (CCRA) to ensure it is working efficiently and as intended.
“New Zealand’s climate change system can be unnecessarily complex and duplicative in parts, which creates high compliance costs and slows effective action,” Mr Watts says.
“We have been clear in our commitment to look into the CCRA to see where we can make improvements.”
Key changes to the CCRA include:
Removing or fixing unnecessary, complex or duplicative requirements in the Climate Change Response Act. This includes removing the need for the Climate Change Commission to provide advice on policy direction prior to an emissions reduction plan being developed by the Government and removing duplicative consultation requirements, for both the Commission and the Government.
Improving functions of the NZ ETS, including:
amendments to Industrial Allocation settings to provide more certainty for the market and reduce disincentives to invest in decarbonisation projects
changing the annual ETS settings process to a biennial one.
removing the requirement for ETS Settings to accord with Nationally Determined Contributions
Expanding opportunities for other types of carbon removals to be recognised in the NZ ETS in the future.
Other technical updates to make it easier for stakeholders to comply with the requirements of the CCRA.
“These proposed changes will reduce costs to government and business and provide greater certainty, enabling us to make meaningful reductions more efficiently. They do not lower our ambition,” Mr Watts says.
The Government intends to introduce an amendment bill to the Climate Change Response Act to make these changes next year.
The Government has also decided to change the neutrality goal for the Carbon Neutral Government Programme from 2025 to 2050.
“This change acknowledges that the original 2025 deadline was too soon for organisations to reduce their emissions enough to meet carbon neutrality,” Mr Watts says.
“The new deadline also aligns with New Zealand’s broader, legislated 2050 net zero target.”
