1. Making the ‘Just Transition’ to lower emissions work
May 2018

2. The impacts can only be managed if we work together
We support a ‘just transition’ to a lower-emissions economy and we are part of the solution
To make it work there needs to be a consensus between workers, our industry and Government
The offshore exploration permit decision will have material impacts on:
Energy security
Economic opportunity
New Zealand’s reputation as an investment destination
Certainty and stability from the Government will help manage these adverse impacts
A ‘Whole of Government’ approach working with us, not against us is required

3. We are important to New Zealand

4. We are reducing emissions
Opportunities to reduce CO2 emissions ?

5. There are risks to New Zealand’s energy security?

6. There will be financial impacts to New Zealand

7. Emissions will undoubtedly rise

8. More stability and certainty from Government will help manage impacts
Crown Minerals Act to maximise workability and flexibility for existing permits
EEZ activity status
Carbon capture and storage and associated carbon credits for sequestration
Letter of guarantee to existing permit holders
Seismic survey rules
Statement of intention from 2020 for onshore exploration
Marine Protected Areas
Non-resident tax status for offshore operators
Role of gas in New Zealand’s energy security and affordability
Incentives/tax efficiency to encourage drilling of existing permits
Enforce existing rules e.g. non-interference zone
Onshore financial assurance
National direction to Councils
Whole of Government approach to sector

9. Questions for the Government
Is the goal of this policy to lower emissions; if so, how does it achieve this?
What are the plans for managing the energy security consequences?
How will the Government reduce the damage already caused to New Zealand’s reputation as an investment destination?
Can you assure us that you will reach consensus with our industry and workers on the plan for a ‘just transition’ to a lower emissions economy?
Are there any circumstances in which offshore exploration permit issuing could resume?

10. Recap: the impacts can only be managed if we work together
We support a ‘just transition’ to a lower-emissions economy and we are part of the solution
To make it work there needs to be a consensus between workers, our industry and Government
The offshore exploration permit decision will have material impacts on:
Energy security
Economic opportunity
New Zealand’s reputation as an investment destination
Certainty and stability from the Government will help manage these adverse impacts
A ‘Whole of Government’ approach working with us, not against us is required