The Wellbeing Budget

Transforming the economy

Initiatives: Meeting the climate change challenge

Advanced Energy Technology Platform

$20 million operating
This initiative aims to further enhance New Zealand's world-class capability in niche areas of energy research, opening-up significant opportunities for New Zealand businesses while assisting the world to transition to a low-emissions economies.

Agricultural Climate Change Research Platform

$3.2 million operating
This initiative aims to support a programme of world-class climate change research for agriculture. Science and technology will be critical to a transition to low-emissions, climate-resilient food production.

Changes to the Emissions Trading Scheme

Non-spending initiative
These changes will create a cap on tradeable emissions and provide certainty to scheme participants. The cap will restrict the number of units supplied into the ETS, increasing the incentive to reduce emissions.

Climate Change Response (Zero Carbon) Amendment Bill

Non-spending initiative
The Bill creates a framework for the adoption of five-yearly emissions budgets, which will each contribute to reaching the 2050 emissions target(s), and for national climate change risk assessments that will inform the Government's national adaptation plan.

Establishing a National New-Energy Development Centre in Taranaki

$27 million operating
This initiative funds the establishment of a National New Energy Development Centre (NNEDC) in Taranaki.

Industry Futures (Bioresource Processing Alliance and Product Accelerator)

$18 million operating
This initiative funds the continuation of two programmes and contributes to the Government's goal to raise research and development (R&D) expenditure to 2 per cent of GDP.

Leading Internationally Through the Global Research Alliance to Reduce Agricultural Emissions

$8.5 million operating
This initiative supports accelerated global agricultural emissions mitigation research and action to reduce agricultural emissions. This will be done through providing funding for New Zealand's continued leadership, participation and investment in the Global Research Alliance (GRA) on Agricultural Greenhouse Gases.

Our Place in Antarctica: Enabling the Redevelopment of Scott Base into a Safe, Fit-For-Purpose Facility

$3.2 million operating
$15.3 million capital

This initiative is the first stage in the redevelopment of Scott Base. This stage involves design, engaging with the construction market and undertaking a process for the procurement of a main contractor to ensure greater certainty of expected build costs and project duration. Implementation funding will be sought in a future budget.

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