WELLINGTON, New Zealand, Dec. 4 (UPI) — New Zealand can position itself as a standard-bearer for the energy portfolio needed to pursue a low-carbon economy, its energy minister said.
New Zealand Energy Minister Simon Bridges travels to Paris during the weekend to take part in a U.N.-sponsored climate change conference.
“For the first time leaders will seek to agree a new binding climate change agreement that includes contributions from all major emitting countries,” he said in a statement.
Bridges has said a diverse pool of energy reserves is essential if governments are to make the switch to a low-carbon economy efficiently. Oil is the fourth-largest export for New Zealand, bringing in around $700 million each year in royalties and taxes. But renewables last year made up nearly 80 percent of the country’s electricity generation.
In October, New Zealand utility company Genesis Energy said it’s on pace to shut down its last two coal-fired power plants by December 2018, effectively marking the end of coal power in New Zealand.
“I want New Zealand to be positioned to make the most of emerging transport and energy technologies, and promote our renewables expertise and experience, in the transition to a low-carbon global economy,” Bridges said.
Countries that combine for 86 percent of total world greenhouse gas emissions in October issued pledges that, if fully realized, would keep levels at or near today’s levels by the end of 2030.
Analysis group IHS finds emissions from advanced economies decline by about 20 percent over 2012 levels, while emissions from emerging economies grow by 30 percent. Combined, IHS finds it’s not enough to keep warming in check.
Commitments so far, however, represent 40 percent of the reduction in emissions needed to reach U.N. goals for climate change abatement.
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