The Government has confirmed $2.6 billion of high-value climate change initiatives previously funded from the Climate Emergency Response Fund will continue, including a public network of electric vehicle charging infrastructure and a grant scheme for clean heavy vehicles.

Climate Change Minister Simon Watts confirmed the funding as part of Budget 2024.

“Responsible and effective climate related initiatives that support New Zealand to reduce emissions, and adapt to the future effects of climate change are a priority,” Watts said.

“Our Government is committed to meeting emission reduction targets, including the overall goal of carbon net-zero by 2050, while continuing to prepare New Zealand for the more frequent severe weather events that climate change will bring.”

The government will fund specific climate resilience projects including stop banks and floodwalls through the Regional Infrastructure Fund, a $200 million boost for the Rail Network Improvement Programme, and extending the reach of the Waste Disposal Levy to support a wider range of waste related and environmental activities.

The government also confirmed it will discontinue “the practice of ring-fencing revenue” raised through the Emissions Trading Scheme in a ‘Climate Emergency Response Fund’.

“Instead, future investment proposals for emission-reduction or climate-adaptation will be considered through the usual Budget process,” Watts said.

Around $2.6 billion of high-value climate change initiatives previously funded from the CERF will continue. These include a public network of electric vehicle charging infrastructure and a grant scheme for clean heavy vehicles.

“New Zealand remains on track to meet our emissions reduction goals in Emission Reduction Plan period one and the Government will soon be consulting on the second Emissions Plan, for the period 2026-2030. This will form the basis of the Government’s plan to reduce New Zealand’s emissions in line with our targets,” Watts said.

“The ETS is a critical tool to helping us achieve our targets and will be front and center in our emissions reduction plans.”