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NEWS RELEASE Kiwis confident about move to low carbon economy 12 May 2022 – New Zealanders are feeling confident about the nation’s transition to a low carbon economy, according to Mercury’s survey of electricity consumers. In total, 59% of Kiwis surveyed are feeling somewhat or very confident in New Zealand’s progress towards a low carbon economy. Young Kiwis aged 18-24 are the most confident (77%). At the same time, 62% of all people surveyed felt the effect of New Zealand’s transition would either have a positive effect on them, or no negative effect. The news comes as the Government is set to announce its Emissions Reduction Plan on Monday 16 May. Vince Hawksworth, Mercury Chief Executive, says it is very encouraging to see Kiwis supportive and confident about the actions New Zealand needs to take to combat climate change. “The decarbonisation challenge is very significant - the scale of the climate crisis demands it,” he says. “The energy sector is well-placed to support the country through this transition. No single sector will be able to create a low carbon future for New Zealand on its own so we will need to work together to create solutions that will make a difference. “We’re up for that challenge and we’re working collectively with Government and other sectors to share knowledge, perspectives, and approaches to decarbonise. Our expertise is there to help policy makers and regulators work through seemingly intractable problems to the transition for energy, such as achieving decarbonisation whilst maintaining security of supply and affordability.” The Emissions Reduction Plan is a key start to the roadmap that will help the country reach its overall goal of net-zero emissions by 2050. It will set policies and strategies for meeting the first emissions budget 2022-2025 and set the direction for climate action for the next 15 years. “There is a lot that people can be confident about with the transition to a lower carbon future. The Emissions Reduction Plan is a vitally important plan for coordinating the changes needed throughout the economy and for giving the public confidence that decarbonisation is achievable,” Hawksworth says. “To achieve collective action, it will be important the private sector receives the right policy and regulatory signals that enable investment to help decarbonise the economy. “For example, decarbonisation of transportation and industry will need to be coordinated with all participants alongside actions the government is taking. Good signals from the Emissions Reduction Plan, such as a renewable energy target, as well as sector policy and regulatory settings are essential when you consider electrification of the economy is likely to require a new wind farm built every nine months to achieve the long-term goal of net zero emissions. “Projects like the Turitea wind farm, which will have the capacity to power the equivalent of 375,000 electric vehicles, shows what can be achieved when the sector responds to the right signals. We support the work underway to develop a National Energy Strategy that can align and bring together the wealth of knowledge from the sector and government to determine the best path to decarbonise energy. “Against all this action that is in train we know that the transition will be challenging. We will need to ensure the transition doesn’t perpetuate inequality and that Kiwis have a choice about how they access and use electricity. “For example, it will be good to see support increase to help low-income households be more energy efficient through, for example, better insulation. We also need to work collectively on solving issues like how low-income households could access the benefits possible through shifting to EVs.