New Zealand - A new report by the International Energy Agency (IEA) has found that New Zealand can utilize its abundant renewable energy resources to decrease emissions across its economy and achieve national climate goals while maintaining energy security.

The country has set ambitious targets to reduce greenhouse gas emissions by 50% from 2005 levels by 2030 and to net zero by 2050. IEA Executive Director, Fatih Birol, commended New Zealand for the steps it has already taken to address climate change, but emphasized the need for the country to leverage its clean electricity strengths to decarbonize transport and industry.

The report suggests that New Zealand needs to focus on decarbonizing the transport and industrial sectors through clean electricity and supporting investments in technologies to achieve emissions cuts cost-effectively. The country already has a low-emissions power system, with over 80% of electricity coming from renewable sources. However, the electricity system will need to adapt to changes, including integrating greater shares of variable renewables such as wind and solar, and preparing for the possibility of lower-than-expected output during dry periods. The report recommends advancing reforms to the permitting system for new renewable projects, finalizing an offshore wind regulatory framework, and providing timely clarity on government-backed projects.

Source: iea.org