New Zealand’s emission reduction target

New Zealand has adopted a firm and unconditional target of reducing its emissions to 5 per cent below 1990 levels by 2020. The target will be expressed as a carbon budget (a quantified emission limitation or reduction objective of 96.8) and New Zealand will apply, mutatis mutandis, Kyoto Protocol second commitment period accounting rules.

The Government of New Zealand remains ready to consider taking on further targets, as announced initially in the context of the Copenhagen Accord, should the conditions stated in paragraph 26 below be met. New Zealand is prepared to take on a GHG emission reduction target of between 10 and 20 per cent below 1990 levels by 2020, if there is a comprehensive global agreement. This means:

(a) That the global agreement sets the world on a pathway to limiting temperature rise to no more than 2 °C;

(b) That developed countries make comparable efforts to those of New Zealand;

(c) That advanced and major-emitting developing countries take action fully commensurate with their respective capabilities;

(d) That there is an effective set of rules for LULUCF;

(e) That there is full recourse to a broad and efficient international carbon market.

Source: New Zealand’s latest submission is available here.