Climate finance in New Zealand
Climate finance in New Zealand includes a mixture of domestic and internationally sourced funding for climate change adaptation, mitigation and resilience.
Nationally determined contributions
[edit]New Zealand is a party to the United Nations Framework Convention on Climate Change (UNFCCC) and has signed and ratified the Paris Agreement. New Zealand's government's National Determined Contribution also known as Tuia te Waka a Kiwa is to reduce greenhouse gas emissions to as low as 50% by 2030.[1][2][3]
New Zealand's Minister of Climate Change, James Shaw revealed in 2021 that the government was investing half of New Zealand's 1.3 billion dollars in climate finance funds to support climate-affected neighbours.[4] This was part of the Climate Emergency Declarations in New Zealand to tackle climate issues.
Major financial support
[edit]The major financial support for Climate financing in New Zealand is from Aotearoa New Zealand under the Ministry of Environment. The Aotearoa Climate Change Engagement Plan New Zealand has pledged $1.3 billion for climate financing between 2022 and 2025. [5] The government announced the creation of the Climate Emergency Response Fund with a $4.5 billion start-up amount to tackle climate issues including climate finance in the Country.[6][7]
Also, the government of New Zealand has committed $200 million to climate financing for 2015 t0 2019.[8]
References
[edit]- ^ "New Zealand's projected greenhouse gas emissions to 2050". Ministry for the Environment. 19 December 2023. Retrieved 2 October 2024.
- ^ "Launch of Aotearoa New Zealand's International Climate Finance Strategy | Beehive.govt.nz". www.beehive.govt.nz. Retrieved 2 October 2024.
- ^ "Oxfam responds to New Zealand International Climate Finance Strategy – Tuia te Waka a Kiwa". Oxfam Aotearoa. 25 August 2022. Retrieved 2 October 2024.
- ^ "New Zealand increases climate aid contribution | Beehive.govt.nz". www.beehive.govt.nz. Retrieved 2 October 2024.
- ^ Trade, New Zealand Ministry of Foreign Affairs and. "What is climate finance?". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 2 October 2024.
- ^ "Climate Emergency Response Fund (CERF) programme | NZ Transport Agency Waka Kotahi". www.nzta.govt.nz. Retrieved 4 October 2024.
- ^ "New Zealand's First Emissions Reduction Plan a Critical Turning Point". www.climatecommission.govt.nz. Retrieved 4 October 2024.
- ^ Trade, New Zealand Ministry of Foreign Affairs and. "Climate change support". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 2 October 2024.