National target 50 per cent emissions reduction by 2050

John Key

The National Party wants a 50 per cent cut in carbon emissions by 2050.

Speaking to the party's Northern Region conference, John Key said National would honour the country's international obligations and would not pull out of the Kyoto Protocol.

He said National's target would send a clear message to the world; New Zealand means business on climate change.

The target of 50 per cent reduction in carbon-equivalent net emissions from what they were in 1990 was comparable with targets being set by other developed nations, the National leader said.

The policy made sense for New Zealand's agriculture-intensive economy.

He criticised Labour for failing to prepare New Zealand for the protocol's binding requirements.

"National will do much better at reducing New Zealand's emissions than Labour has done. As a starting point we think New Zealand needs a credible emission reduction target to strive for. A "carbon neutral" goal with no timeline just won't cut it."

Mr Key said climate-change awareness will create new markets for New Zealand industries, tourism and technology.

Demand for low-carbon products was estimated to be worth at least $500 billion per year by 2050 and countries and consumers would be seeking climate-friendly products and innovations.

- NZPA