Australia and New Zealand have agreed to deepen their collaboration on tackling climate change and unlocking economic opportunities in the transition to cleaner energy sources.
The commitment was made during the inaugural Australia-New Zealand 2+2 Climate and Finance Dialogue held in Brisbane.
Australian Treasurer Jim Chalmers and Climate Change and Energy Minister Chris Bowen hosted their New Zealand counterparts, Finance Minister Nicola Willis and Climate Change Minister Simon Watts, for the dialogue.
“This is all about working with our partners across the Tasman to maximise the economic and industrial benefits of the shift to net zero and strengthen green trade and supply chain security in our region,” the Australian Government said.
A key focus was on developing a regional sustainable aviation fuel industry and ensuring robust supply chains for low-carbon liquid fuels to power maritime transport, trucks, and planes.
The two nations agreed to investigate conditions for such an industry, invite New Zealand aviation companies to join Australia’s Jet Zero Council, and meet with maritime stakeholders to discuss establishing green shipping lanes.
They also committed to reviewing regulatory barriers impeding the net-zero transition, working with industry on decarbonisation efforts like New Zealand joining the Climate Club forum, aligning sustainable finance initiatives, and developing a scheme to promote trade in low-emissions products.
The Australian Government highlighted the importance of climate action for the future of Indo-Pacific nations amid global economic and strategic shifts.
“Taking action on climate change will help to secure the future of all Indo‑Pacific nations in a changing global economic and strategic landscape, as the world undergoes the biggest transformation since the industrial revolution,” it said.
Other areas of cooperation include sharing expertise on developing net-zero plans, investing in emissions monitoring for agriculture, and increasing collaboration to deliver on the Paris Agreement goals.
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