This Act establishes the legal framework through which New Zealand implements climate change policies and fulfils obligations arising from international climate agreements, including the United Nations Framework Convention on Climate Change, the Kyoto Protocol, and the Paris Agreement. The Act provides mechanisms for emissions reduction measures, including the Emissions Trading Scheme (ETS), the setting of emissions budgets and milestones, the allocation and surrender of emissions units, and the application of levies and penalties associated with greenhouse gas regulation. The Act creates the Climate Change Commission as an independent Crown entity with advisory, monitoring, and reporting functions. It establishes a national 2050 emissions target, including separate targets for biogenic methane, and requires the preparation and implementation of successive five‑year emissions budgets. It also provides procedures for consultation, public participation, monitoring, review, and enforcement of climate policies. In addition, the Act requires climate change risk assessments and adaptation planning to support responses to the impacts of climate change. The legislation contains sector‑specific provisions relating to forestry, liquid fossil fuels, stationary energy, industrial processes, waste. It regulates the administration of emissions unit registers, the allocation and surrender of units, compliance obligations, enforcement measures, and the responsibilities of competent authorities. The schedules to the Act incorporate the text of relevant international agreements and provide detailed rules concerning covered activities, thresholds, and administrative arrangements.
New Zealand · 2002-11-18