Aug 16, 2013 - The New Zealand government today said that the country will cut its carbon dioxide emissions by 5% on 1990 levels through the end of the decade, under a binding treaty.
According to previous international talks the country was considering a reduction target of 10% to 20%. Today Climate Change Minister Tim Groser said the goal to cut emissions by 5% was the result of careful evaluation of the cost to New Zealand residents and businesses.
The 2020 target comes under the United Nations Framework Convention on Climate Change, the parent body of the Kyoto Protocol. According to the minister the goal can be achieved without changes to the domestic emissions trading scheme.
At present, New Zealand sources from renewables some 75% of its power, according to the Energy Efficiency and Conservation Authority (EECA), a body set up by the government to promote energy efficiency, energy conservation and the use of renewable sources. Most of the country’s power comes from hydropower and geothermal power plants.