WELLINGTON, Aug. 9 (Xinhua) -- New Zealand has set ambitious targets to reduce carbon emissions through the 2030 Paris Agreement Target, Climate Change Minister Paula Bennett said on Wednesday.
"Although New Zealand is a small player, it is globally connected and trade-dependent," said Bennett who welcomed the release of the Productivity Commission's issues paper for the inquiry into how New Zealand can maximize the opportunities and minimize the costs and risks of transitioning to a lower carbon economy.
"This inquiry will help us to meet our targets to 2030 and then look beyond that to address long-term climate change effects," she said.
Finance Minister Steven Joyce said that "it is crucial for New Zealand's future that we make policy decisions informed by economic analysis so we achieve our climate goals while maintaining and lifting the prosperity of kiwi families at the same time."
A big focus of the response will be harnessing the benefits of some rapid technological advances scientists are making, Joyce said, adding that the Productivity Commission will look at how New Zealand's regulatory, technological, financial and institutional systems, processes and practices can help to encourage adoption of these new technologies.