Face of the Day

The prime minister has doubled down on his insistence that the government will not spend billions of dollars offshore to meet New Zealand’s climate commitments.

Treasury estimates it could cost up to $5 billion to pay for the overseas carbon credits New Zealand needs to honour its Paris Agreement commitments.

An additional $1.6 billion may also be needed to pay for credits to meet a subsequent commitment, due by 2035.

The government was “gonna do everything we can” to honour the country’s Paris Agreement pledge to halve emissions by 2030, Christopher Luxon said.

“But just reassuring everybody, we ain’t shutting down farms and we certainly aren’t sending billions of dollars offshore.”

RNZ