Young JonathanJONATHAN YOUNG (National—New Plymouth): Thank you Madam Chair. Following some of my colleagues' comments—because I do think this is at the very core of what this bill is about; it's the process of transition—I think that what New Zealand needs is not a just" transition that everybody is confused about but we need a "smart" transition. We need a transition that is comprehensive in its planning and in its consultation. We look to exemplars around the world like Norway who have very high uptake around electric vehicles who have 100 percent renewables and they do all of this on the strength of a hydrocarbon industry who are now using those resources to invest and become international leaders in offshore wind generation and from that the development and the production of hydrogen that will flow from some of those redundant offshore platforms in the North Sea. So people are using smart opportunities. People are consulting.If you go and look at the definition of "just transition" it says at the very beginning at the front end of this is a thorough consultation process. That is essential because what we have today is a bill that protects the past but completely changes the future hoping that this will make a way for Taranaki. But it's through the people in the past—the Statoils now called Equinor who now are not just a hydrocarbon company but an energy company—that we see those transitions take place; that happen not driven by legislation—Kiritapu Allan: What's the reference to Part 2? It's very narrow.JONATHAN YOUNG: —we are talking about what the Minister raised—but that happen because of a desire in companies to be relevant to be purposeful and to support their countries and economies. I think it's a really important thing that we look at this.I think that in many regards yes I am pleased that there are provisions to protect those past permits and those companies that will to some degree be able to carry on with their permits in a business-as-usual case. But what we have are existing operators—people like Methanex people who want to bring in carbon capture technology. They want to be able to better utilise the carbon dioxide that comes from their processes and they want to be able to convert that into methanol and be able to not have those types of emissions happening in our climate and in our atmosphere.So what is important is not just a just transition for the workforce but if we were to do exactly what a just transition says and that is to do a thorough consultation before—before—decisions are made what we might learn is that there are technologies and that there is potential investment to achieve the very goals that this bill has as its policy statement as its background. In order to do that what it takes is it takes a Minister and it takes a Government to have the willingness to consult.I'm very pleased to hear that there will be a thorough consultation around tranche two. I think that what people wanted was the thorough consultation around tranche one and I think that if we had had that then we would've had probably a far more steady process and a situation where companies would see a stronger future heading towards a low-emission economy which everybody supports. I think that we have lost an opportunity—we have lost an opportunity—because the Government have rushed at this. They haven't done the consultation that a just transition predicates.What we need is a smart transition. We need a transition where people can stop take a breath think consult and consider. None of this has happened and what we are left with with all due respect is poor legislation. It might be taking a hammer to a walnut crushing it and thinking that we have made some significant difference. We have made no difference. All we are doing when it comes to a high-cost transition to a low-carbon future is making this country and people poorer. We won't achieve it."