An emissions budget is a total quantity of emissions that is allowed to be released during an emissions budget period. Each emissions budget covers a period of five years (except the first emissions budget which covers the period 2022-25).
Emissions budgets will act as stepping-stones, or interim targets, to reaching our 2050 emissions reduction targets.
Aotearoa New Zealand’s legislated 2050 emissions reduction targets are:
- net zero greenhouse gas emissions (except biogenic methane)
- a 24–47% reduction in biogenic methane.
The Government's emissions budgets (Mt CO2e)
The emissions budget permitted for the relevant emissions budget periods are expressed in megatonnes of carbon dioxide equivalent (Mt CO2e). The first three emissions budgets were published in May 2022.
| Budget period |
2022–25 |
2026–30 |
2031–35 |
| All gases, net (AR5) |
290 Mt CO2e |
305 Mt CO2e |
240 Mt CO2e |
| Annual average |
72.5 Mt CO2e |
61 Mt CO2e |
48 Mt CO2e |
The total of the emissions budgets for the first three budget periods is 20 Mt CO2e (2.3 per cent) lower than the Climate Change Commission’s proposed budgets.
The Climate Change Commission’s proposed budgets (Mt CO2e)
The Climate Change Commission's recommendation for New Zealand's first three emissions budgets as in their final report Ināia tonu nei: a low emissions future for Aotearoa [Climate Change Commission], published in June 2021, was:
| Budget period |
2022–25
|
2026–30
|
2031–35
|
|
All gases, net (AR5)
|
290 Mt CO2e
|
312 Mt CO2e
|
253 Mt CO2e
|
|
Annual average
|
72.4 Mt CO2e
|
62.4 Mt CO2e
|
50.6 Mt CO2e
|