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Total expenditure on meeting NZ climate target

Barry Brill made this Official Information request to The Treasury

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From: Barry Brill

Dear The Treasury,

The Treasury paper dated 7/10/21 calculated $2.56 billion as the annual cost of offshore carbon credits required to meet New Zealand's emissions reduction target of 41% by 2030.

However, the paper stated that: “These costs would be in addition to costs associated with domestic mitigation, international climate finance, supporting a just transition, and costs to government related to adaptation, meaning that the overall climate transition costs are likely to be much larger.”

The Treasury will have had to budget for these four additional cost categories. Please advise your best estimates for average annual expenditure (until F2030) on:
– domestic mitigation through ETS
– non-ETS mitigation
– supporting a just transition
– climate adaptation
– international climate finance (including climate AID)

Please also provide your best estimates of the annual economic cost of compliance with climate policy regulation (ie non-government expenditure).

Yours faithfully,

Barry Brill

I will provide eligibility information directly

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From: Jean McDowall [TSY]
The Treasury


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Ngâ mihi

Jean McDowall

 

 

Jean McDowall | Senior Ministerial Advisor| Te Tai Ôhanga – The Treasury

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From: Ministerial Services Inbox [TSY]
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Dear Barry,

 

Please find attached a response to your Official Information Act request.

 

Kind regards,

Nat

 

 

Nat Deys | Ministerial Advisor | Te Tai Ôhanga – The Treasury

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