Climate uncertainty hurting business – Treasury

The Treasury has told Finance Minister Bill English that the current regulatory uncertainty around climate is hurting business, the Green Party said today.

New information released to the Green Party shows that Treasury recommended as far back as October 2014 that the National Government work to secure a greater degree of political party consensus about climate change saying that “this would assist firms and individuals to better factor climate change into their long-term decision making”.

“John Key understands the importance of building cross-party consensus on a possible flag change but has shown little interest to date to do the same on climate change – an issue that has more far-reaching effects for our economy and prosperity,” said Green Party Co-leader James Shaw.

“Treasury advised National in October last year that one of the most significant steps it could take on climate change was to build cross-party consensus to better help businesses plan for climate change.

“Since coming to power, National has significantly changed the Emissions Trading Scheme (ETS) four times – the last time in Budget legislation without any public warning or cross-party agreement.

“Climate solutions that depend on slim political majorities in the moment are not climate solutions at all, as they will inevitably change when the Government changes.

“It’s time for National to stop playing petty politics on the climate.

“I want to roll up my sleeves and work with John Key’s Government to secure an enduring, cross-party agreement on the climate – one that sets a clear, level playing field for business, empowering them to start being part of the solution to climate change.

“Individual companies and business sectors can plan better to cut their emissions if they have long-term policy stability on the climate.”