Crown Minerals (Petroleum) Amendment Bill

The Bill, and the 12 April 2018 policy decision to ban new offshore oil and gas exploration it seeks to give effect to, are counterproductive to the overall goal of reducing New Zealand’s emissions. Achieving large greenhouse gas emissions reductions relies on transitioning New Zealand’s economy. Such a transition will be made harder if sectors and businesses no longer feel they have the ability to make long term investments based on policy certainty or, if policy has to change, a fair policy process. This runs counter to the Zero Carbon Bill currently in development, which is deliberately going through a lengthy development process in order to provide policy certainty for New Zealanders.

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