New Zealand

New Zealand's competition watchdog has launched an investigation into whether the commitments made by lenders in the Net-Zero Banking Alliance may violate anti-cartel laws. In an email sent on Friday, the Commerce Commission announced that it had launched an investigation into whether or not banks' adoption of and alignment with net-zero targets and strategies could be in violation of section 30 of New Zealand Commerce Act. Section 30 prohibits agreements, contracts, understandings, or covenants that contain cartel provisions. The statement read: "We continue to gather information from relevant parties in order to determine if there are any conducts that violate...

Cook Islands Prime Minster Mark Brown will travel to China next week. This is the first time in 10 years that a leader from the small South Pacific nation has visited China. The visit aims to improve relations between the two countries, including trade, investment, tourism, and infrastructure. The visit is part of Beijing's efforts to expand its influence in the Pacific and comes after Pacific Island Nations raised concerns about U.S. President Donald Trump’s decision to freeze foreign aid and crackdown on illegal immigration, as well as withdraw from The Paris Agreement regarding climate change. In a Thursday statement,...

New Zealand announced late Thursday night that the country will commit to reducing emissions from 2005 levels by 51-55% by 2035. This commitment is part and parcel of the country's Paris Agreement commitment. The initial commitment was to reduce emissions 50% by 2030, and it is part of its pledge to reach net zero emissions by 2050. Climate Change Minister Simon Watts stated in a press release that "we have worked hard to establish a target which is both achievable and ambitious, reinforcing the commitment we feel to the Paris Agreement as well as global climate action." "Meeting the target...

The New Zealand Government announced on Friday its intention to double the country's exports of minerals to NZ$3 Billion ($1,69 Billion) by 2035. In a speech, Shane Jones, the Minister of Resources said that the Government had raised the target from NZ$2billion to NZ$3billion after the industry said the previous target was not ambitious. Statista New Zealand reports that New Zealand minerals exports totaled NZ$1.46 Billion in the twelve months ending June 30. Jones, in Waihi, a mining town on the North Island, said that the government sees the development of minerals as an important pillar for a strong economy....

Commonwealth members selected Shirley Ayorkor Botchwey as secretarygeneral of the 56nation club headed by Britain's King Charles, the Commonwealth said on Saturday, the final day of a top in Samoa participated in by Charles and Queen Camilla. Representatives of the nations, most with roots in Britain's empire, are going to the Commonwealth Heads of Federal government Meeting that began in the Pacific Island nation on Monday, with slavery and the hazard of environment modification emerging as major styles. Today at #CHOGM 2024, Commonwealth Heads of Government have chosen the Hon Shirley Ayorkor Botchwey, presently the Minister for Foreign Affairs and...

A meeting of Commonwealth countries began in Samoa on Monday with a concentrate on the earnings inequity, violence and structural discrimination dealt with by ladies, explained by Commonwealth Secretary General Patricia Scotland as a plague. in our world. Leaders and officials from 56 nations with roots in. Britain's empire will attend the Commonwealth Heads of. Government Fulfilling in the small Pacific Islands country. At a forum on Monday, females political leaders stated gender. inequality stays widespread amongst the group, which spans top. economies such as Britain, Canada and Australia, the world's. most populated nation India, and 14 least established states...

The New Zealand federal government said on Tuesday it would more than cut in half the number of systems it makes available to offset carbon emissions in between 2025 to 2029, as part of a strategy to restore self-confidence in the emissions trading plan market. Auctions for New Zealand units, which represent one metric tonne of carbon dioxide, or the equivalent of any other greenhouse gas, have actually consistently stopped working over the previous year due to oversupply leading to a loss of confidence in the system. Environment Modification Minister Simon Watts stated in a statement that the federal government...

On the remote south coast of Tahiti, its Jurassic peaks and azure lagoon available just by boat, Patrick Rochette is discussing how centuriesold Polynesian conservation traditions are being restored to secure this distinct environment. Joined gruesome tales of the island's history of tribal wars and the roots of wave-riding, it's a compelling account that resonates with the school kids that the Tahitian older has given this picturesque area near to the Olympic browsing venue of Teahupo'o. Amongst the interconnected Polynesian concepts lost or repressed during Tahiti's French colonisation that Rochette explains: respect for tupuna, the ancestors; mana, the spiritual power...

Alex Yee might have been the fastest runner in the field at the Olympic men's triathlon but he knew you can't beat the heat and his considered pacing paid optimal dividends when he drew in Hayden Wilde in a remarkable finish on Wednesday. The two athletes understand each other inside out and won silver (Yee) and bronze (Wilde) in Tokyo, so the New Zealander took something of a punt in attempting to go hard early and break his British friend and competitor's willpower. With just around 500 metres of the 10km course to go it looked to be a masterstroke...

Britain's Alex Yee ran a perfectly-paced 10km to take a remarkable Olympic triathlon gold on Wednesday, revamping a fading Hayden Wilde of New Zealand in brutal conditions. The race was originally due to be held on Tuesday however postponed due to bad water quality in the river Seine and, after the swim and bike leg, a substantial group of 32 hit the shift to the run together. Yee and Wilde instantly created clear but the New Zealander, bronze medallist in Tokyo, surprisingly made an early move, with Yee, extensively considered the fastest runner in the field and silver medallist 3...

A small dairy in Tasmania is equipping supermarket shelves with what it states is the world's. first branded milk produced by cows fed with a seaweed that. makes them produce lower levels of ecologically harmful methane. gas. The animals market accounts for around 30% of international. methane emissions, according to the United Nations. Seaweed and. other feed ingredients for cattle could lower these greenhouse. gas emissions however have yet to be widely adopted due to cost. Considering that February, family-owned Tasmanian dairy producer. Ashgrove has actually been feeding around 500 cows - a fifth of its overall. - an oil...

New Zealand on Tuesday ended a plan to put a price on farming emissions including methane produced by burping sheep and cattle, relenting to farmer pressure that the plan would make their company unprofitable. The conservative federal government stated in a declaration it would establish a Pastoral Sector Group with representatives from the agricultural sector to discover other methods to decrease biogenic methane. Terms of referral for the group need to be established and concurred upon. The previous federal government had actually presented a strategy to charge farmers for their gas emissions from the end of 2025, in what was...

The Fonterra Co-operative in New Zealand will pay more to dairy farms that emit less greenhouse gases, while Nestle and Mars, its customers, will give bonuses to those farms. Methane emissions from sheep and cows account for nearly half of New Zealand’s total greenhouse gas emission. Fonterra, despite the fact that the government has rolled back some agricultural regulations as well as scrapped plans to implement emissions pricing by 2025, continues to aim for a 30% reduction in emissions on its approximately 8,000 farms. Fonterra's statement stated that from June 1, it will pay farms who emit less than the...

New Zealand signed a trade offer on Saturday with Switzerland, Costa Rica and Iceland to eliminate tariffs on numerous sustainable goods and services, in a relocation Wellington says will boost the country's export sector. The Arrangement on Climate Modification, Trade and Sustainability ( ACCTS) was signed at a ceremony during the Asia-Pacific Economic Cooperation (APEC) in Peru on Saturday after being struck in July, Trade and Agriculture Minister Todd McClay stated in a statement. This contract gets rid of tariffs on key exports including 45 wood and wool items-- 2 sectors that are crucial to achieving our goal of doubling...

Denmark, a major pork and dairy exporter, will introduce a tax on animals carbon dioxide emissions from 2030, making it the very first country to do so and intending to inspire others to follow, the government said on Tuesday. A tax was very first proposed in February by government-commissioned specialists to help Denmark reach a legally binding 2030 target of cutting greenhouse gas emissions by 70%. from 1990 levels. The centrist federal government late on Monday reached a. wide-ranging compromise with farmers, industry, labour unions. and environmental groups on policy connected to farming, the. nation's biggest source of CO2 emissions....

New Zealand and China on Thursday signed arrangements on trade and climate change, with human rights also on the program, during a trip by Premier Li Qiang, the greatest level Chinese check out to New Zealand in seven years. New Zealand Prime Minister Christopher Luxon is looking for to balance rights and security interest in the rewarding trade chances provided by Beijing, the country's largest export partner. The Premier and I discussed our substantial economic relationship, which benefits people in both nations with two-way sell items worth nearly NZ$ 38 billion ($ 23.43. billion), Luxon stated. Li was welcomed on...