5. Question No. 5—Energy and ResourcesANAHILA KANONGATA'A-SUISUIKI (Labour) to the Minister of Energy and ResourcesQuestion No. 5—Energy and Resources5. ANAHILA KANONGATA'A-SUISUIKI (Labour) to the Minister of Energy and Resources: What action is the Government taking to accelerate the decarbonisation of New Zealand's industrial and manufacturing businesses?Hon Dr MEGAN WOODS (Minister of Energy and Resources): Yesterday the Government announced significant new investment to supercharge the decarbonisation of industrial and manufacturing businesses as part of the landmark emissions reduction plan. Emissions from our energy and industry sectors make up 27 percent of New Zealand's total emissions. So that is why we're investing $650 million over four years to massively increase funding to the Government Investment in Decarbonising Industry (GIDI) fund. This investment will slash emissions and accelerate the move to a renewable electricity system. Over the first three rounds of GIDI $69 million in funding has been invested which has unlocked $117 million in private sector investment. This will be replicated in the expanded GIDI programme with the potential to unleash hundreds of millions of dollars in private sector investment while reducing emissions—1.6 million tonnes in the emissions budget period 2022 to 2025; 9.5 million tonnes 2025 to 2030; and an additional 7.4 million tonnes from 2030 to 2035.SPEAKER: Before I have the supplementary I'm just going to remind people in the gallery that it's a requirement that you wear masks in the gallery. They're not necklaces. Thank you.Anahila Kanongata'a-Suisuiki: How will the Government's expanded decarbonisation fund differ from the existing programme?Hon Dr MEGAN WOODS: The first iteration of GIDI has been a success having helped accelerate 53 major industrial decarbonisation projects estimated to save 7.46 million tonnes of carbon equivalent to taking 134800 cars off the road. It was previously targeted to medium and large businesses and focused on process heat decarbonisation. This will continue to be covered but GIDI 2.0 will now also support small to medium businesses to upgrade to more energy efficient equipment. The funding will go beyond industrial process heat use by supporting replacement of inefficient industrial and commercial equipment and decarbonising commercial space and water heating. Another focus will be on investing in fuel supply infrastructure to enable switching to low emission fuels. This new fund will open in June allowing businesses to apply for contestable funding.Anahila Kanongata'a-Suisuiki: How does GIDI support the Government's goal of decarbonising industry and further accelerating preparations for a sustainable more resilient future?SPEAKER: Order! Which member was that? Well the member will stand withdraw and apologise.Nicola Willis: I stand withdraw and apologise.SPEAKER: No the member will—the member knows how to do it. She's been around these buildings for a very long time and she is running the risk of now quite a serious punishment for her party rather than a minor one.Nicola Willis: I withdraw and apologise.SPEAKER: Anahila Kanongata'a-Suisuiki will have the supplementary again.Anahila Kanongata'a-Suisuiki: How does GIDI support the Government's goal of decarbonising industry and further accelerating preparations for a sustainable more resilient future?Hon Dr MEGAN WOODS: As the Prime Minister said yesterday we cannot leave the issue of climate change until it is too late to fix. We can't opt out of the effects of climate change so we can't opt out of taking action. Rather than sitting idle we know we must take action to slash emissions and futureproof our energy system. Our actions over the past four and a half years have bent the curve of New Zealand's emissions trajectory and programmes like GIDI are vital to meeting the emissions budget all parties in Parliament support.