ACT New Zealand has published a policy to repeal the Zero Carbon Act and remove the 2050 net zero target, arguing that New Zealand's 0.17% share of global emissions does not justify domestic carbon costs that raise petrol, power, and food prices. The plan would tie New Zealand's emissions cap to a trade-weighted average of major trading partners, remove the carbon auction price floor, and return 100% of net auction revenue to households via a Carbon Tax Refund. It also proposes restoring industrial carbon assistance rates and changing rules that encourage converting productive farmland into permanent pine forests. The policy criticizes the current Emissions Trading Scheme, noting that at a carbon price around $55, an average household pays an estimated $478 per year. ACT says it will renegotiate the Paris Agreement and is prepared to leave if a fairer arrangement cannot be reached. The party also opposes new climate taxes, including on agricultural emissions, and wants to cut red tape for cleaner technology. This is a significant shift in New Zealand climate policy, with implications for carbon markets and domestic emission reduction efforts.
