New Zealand and Australia Strengthen Collaboration for Climate Action
Key Ideas
- Finance and Climate Change Ministers from New Zealand and Australia met in Brisbane to discuss joint action for meeting climate commitments and enhancing climate resilience in the Pacific region.
- The ministers agreed on various initiatives including conducting a joint regulatory barrier review, developing a Guarantee of Origin scheme for green hydrogen, and investing in long-term emissions reduction opportunities in the agricultural sector.
- The development of a sustainable investment model and finance strategy for New Zealand, in collaboration with Australia, aims to showcase efforts in agriculture and forestry sectors and position the region as a robust sustainable finance market.
Finance Minister Nicola Willis and Climate Change Minister Simon Watts of New Zealand recently met with their Australian counterparts in Brisbane to strengthen collaboration for climate action. The ministers discussed a range of topics, including joint action to meet climate commitments, climate resilience in the Pacific region, mobilizing finance for climate change action, and improving responses to severe weather events. They emphasized the importance of finance in supporting global climate action, especially leading up to COP29. Both countries agreed on a joint statement outlining plans for increased bilateral collaboration. Initiatives include a regulatory barrier review focusing on batteries and electric vehicle charging, convening roundtables with the maritime sector for green shipping routes, and joining efforts in developing a Guarantee of Origin scheme for green hydrogen. Additionally, they plan to work on sustainable finance strategies, industry decarbonization, and long-term emissions reduction in agriculture. This collaboration aims to unlock investment opportunities to reduce emissions and showcase the efforts of domestic farmers and foresters. By developing a sustainable investment model and finance strategy, New Zealand and Australia aim to enhance cooperation and establish the region as a prominent sustainable finance market.
Topics
Oceania
Sustainability
Climate Action
Finance
Collaboration
Agriculture
Industry Decarbonisation
Forestry
Pacific Region
Latest News