9. Question No. 9—Energy and ResourcesHon JULIE ANNE GENTER (Green) to the Minister of Energy and ResourcesQuestion No. 9—Energy and Resources9. Hon JULIE ANNE GENTER (Green) to the Minister of Energy and Resources: Will the Crown Minerals Amendment Bill help to enable New Zealand to phase out fossil fuel extraction; if so how?Hon Dr MEGAN WOODS (Minister of Energy and Resources): The bill will mean the Crown Minerals Act (CMA) will no longer actively promoting the prospecting exploration and mining of Crown-owned minerals including fossil fuels. It will increase flexibility and allow the Government to manage the Crown mineral estate that enables fossil fuels to be phased out while ensuring energy remains secure and affordable for all New Zealanders. The bill is of course just one part of our Government's measure to reduce New Zealand's reliance on fossil fuels and their extraction. We have already ended new offshore oil and gas exploration permits last term and have committed to achieving net zero by 2050. We've also set out a comprehensive plan for reducing our emissions in the emissions reduction plan including an additional $650 million for our Government investment in decarbonising industry and the phase out of fossil fuels from the processed heat sector. We also have a commitment to phase out the use of coal for low and medium temperature process heat and we also have a comprehensive energy strategy under way.Hon Julie Anne Genter: Does she consider that the changes go far enough to be consistent with the International Energy Agency's Net Zero by 2050 pathway which requires no new oil and gasfields being approved for development from now?Hon Dr MEGAN WOODS: As I indicated in the answer to the primary question I believe that this change to the purpose statement of the Crown Minerals Act is an important part of a suite of Government energy measures and resources measures that need to be put in place for us to achieve our climate goals. Do I think this will achieve it on its own? No no one measure will; they all need to work together.Hon Julie Anne Genter: Does she agree that the Government needs to send strong signals to the energy industry to immediately stop investing in fossil fuels and invest in clean energy instead?Hon Dr MEGAN WOODS: As the Minister of Energy and Resources I take seriously my job to both promote investment in new energy generation and also ensure that we have the regulatory settings right to encourage that investment. I note with some satisfaction that we are seeing at the moment quite a change in the pattern of investment we're seeing in energy generation in New Zealand. It's not just the traditional generation we're seeing built from our gen-tailers" but are seeing a raft of independent generation projects coming on board in the renewable space. Just to name a few the Rangitaiki solar power plant that Todd-Sunergise are investing in—that's $600 million into a 400 megawatt solar farm near Taupō. We're also seeing Lodestone Energy investing $300 million into five solar farms in Northland the Bay of Plenty and Coromandel and of course we're seeing the work under way in offshore wind with the partnership between Copenhagen Infrastructure Partners and the New Zealand Super Fund. This is the kind of investment we need to see in our future not looking back to the past and thinking we can keep using fossil fuels for ever.Hon Julie Anne Genter: How important does the Minister think the Intergovernmental Panel on Climate Change's (IPCC) April report is which states that to limit warming to 1.5 degrees Celsius above pre-industrial levels we need emissions to peak at 2025 and essentially halve by 2030?Hon Dr MEGAN WOODS: Of course that report is incredibly important; it is one of a number of reports that are pointing to the fact that we need to have decisive climate action. This change to the Crown Minerals Act is just one measure that New Zealand is taking.Hon Julie Anne Genter: Is the Minister confident that this legislation progresses change fast enough to meet the IPCC's limit of 1.5 degrees Celsius and avoid climate catastrophe?Hon Dr MEGAN WOODS: As I've indicated in previous answers I don't think there is one change or one measure that itself can solely do New Zealand's job in terms of what it needs to do on climate action. I think this is a change that needs to occur. I think it is a change that we have well-signalled and been working on for a long time. In isolation it is not enough but when you put it together with a comprehensive programme of Government action on climate change it is an important part of that suite of measures.Hon Julie Anne Genter: Are the proposed changes to the Government's ability to respond under this bill sufficient to enable "'a rapid and just phase-out of fossil fuel production' immediately" as required according to a recent University of Manchester study?Hon Dr MEGAN WOODS: Again it is part of a suite of policies. It is an important part but we need to see this as an important part of tranche two of changes to the CMA. Of course in 2018 with the support of the Green Party and New Zealand First we stopped the issuing of new offshore oil and gas exploration permits and joined a handful of countries that took a leadership position in this field. We're now a part of a group of countries and regions including Denmark France Greenland Belize Spain Ireland Quebec and Sweden who have seen that fossil fuels are not their future and we need leadership that points to what a 21st century future looks like."