The Government recently announced a raft of proposed changes to the Climate Change Response Act and the Emissions Trading Scheme.
Climate Change Minister Simon Watts says the Government's focused on reducing domestic emissions and the legislation needs to reflect these standards.
"We're focusing on domestic emissions reduction as the priority."
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Speaker 1 (00:00):
Keeping track of where the money is flowing.
Speaker 2 (00:02):
The Business Hour with Heather Duplicyl and Maz for insurance investments,
Julie Safer, You're in good hands. News talks Ben coming
up in the next hour, Genative trainee on Adrian or
threatening legal action and house prices being at the upper
end of sustainable, Milford Asset Management on the big shorts,
(00:23):
take on the AI stock value and Gavin Gray will
be with us out of the UK, and we'll definitely
talk about the BBC right now at a seven past six. Now,
climate Change Minister Simon Watts has made quite significant changes
to our climate laws. The emission's trading scheme no longer
has to align with the Paris Agreement, the public Service
doesn't have to be carbon neutral until twenty fifty and
the Climate Change Commission will no longer produce a draft
(00:45):
emission's reduction plan for the government. And Simon Watson is
with us now. High Simon, Hey, good evening, Heather. Now
why have you decided to decouple the ETS from the
Paris Agreement.
Speaker 1 (00:55):
Well, first and foremost, the ETS deals with domestic commissions.
The Paris Agreement deals with international and so we've simply
just made the change which reflects the reality of how
the ETS works. It focus on domestic emissions reduction and.
Speaker 2 (01:11):
Does it also allow you Is it not also practically
now allowing you to be able to buy offshore credits
rather than having to reduce your domesticssion.
Speaker 1 (01:21):
It has nothing to do with that, And just for
the record, I think we've talked about that before. The
government doesn't have any plans in play at the moment
to do that right now. We're focusing on domestic emissions
reduction as the priority.
Speaker 2 (01:34):
What's happened to the carbon price today as a result
of this?
Speaker 1 (01:38):
Look, I haven't seen the latest number in terms of closing,
and I don't comment on the price in the market,
but look there's been you know, my price goes up
and down like any market.
Speaker 2 (01:48):
And so does it fallen today.
Speaker 1 (01:51):
I haven't got the latest numbers. It was some change
this morning, but in terms of this afternoon, my understanding,
it's firmed up a little bit.
Speaker 2 (01:58):
Oh okay, So how much did it fall by the morning.
Speaker 1 (02:02):
I don't hear that. I don't comment on the broader price.
Speaker 2 (02:05):
I can tell us. I'm not asking you for your
take on I'm just asking you what you saw.
Speaker 1 (02:10):
My understanding is that it's softened this morning and has
then recovered back up. So I think my understanding from
what I heard, it was about ten percent.
Speaker 2 (02:18):
Down on the day, and the ETS is anyway, when
we can talk about the ETS another day. Now, why
did you push out the public service carbon neutrality from
this year to twenty fifty?
Speaker 1 (02:27):
Oh yeah, I mean, Look, to be fair, there is
a huge amount of process and bureaucracy that's in play
with the climate change response. At from a public sector
point of view, everyone's focusing on twenty fifty. The last
government put in this objective to have them neutral by
twenty twenty five. That's not realistic. Our priority across the
(02:47):
public service is getting them focused on delivering good public
services for less money.
Speaker 2 (02:54):
Far off being carbon neutral, were they like was it
within touch or was it just miles away?
Speaker 1 (03:00):
Look, there's some parts of the sector, you know, you
think about all the coal burners and that in hospitals
and schools. You know, they've got quite a bit of
work to do in that space. But also some of
it's just not realistic or feasible right here right now,
and like as a government, we want them focused on
core public service delivery, and I've given them to twenty
fifty because guess what everyone else in the country is
(03:21):
targeting that the deadline as well.
Speaker 2 (03:22):
So okay, why sideline the Climate Change Commission? If we've
got a climate change commission, why sideline it? Why not
just get rid of the thing altogether.
Speaker 1 (03:31):
Look, there's been quite a few on the left that
have said that, and I don't subscribe. What we did
have in play is that we've got duplication. I do
a process to consult on my plan and the Climate
Change Commission exactly the same time consults on their plan,
and it ends up just being you know, duplication and
the waste of effort. I've said, look, you guys don't
(03:53):
need to do that. I'll consult with the public and
by the way, you use that time and capacity to
just be on other aspects. There's a lot of duplication
in this process. I'll tell you there's a lot of
bureaucracy as well, and I'm just taking a clean look
at it and going, look, let's cut ahold of the
stuff out that's not adding value, because guess what, you know,
we can't afford to be wasting money on stuff that
(04:15):
we don't need.
Speaker 2 (04:16):
To be doing fair enough now. All of the stuff
is defendable. So why were you a bit shady about
it last night? Why pop it up on the Beehive
website and not send a press release out to everybody
like you always do?
Speaker 1 (04:27):
Ah here there, I'm not being there's nothing shady about this.
The market closes at eight o'clock. Because the stuff is
considered market sensitive, I'm not allowed to release it until
the market closers. We sent it out. We sent it
out to a select number of.
Speaker 2 (04:42):
That's my question topic. What did you send it out
to each?
Speaker 1 (04:46):
Look, we sent it out. It was put on the
public on the Beehive. I'm not trying to hide anything here.
I get a lot of hassle something just so you
know on people going were you're sending out too many.
Speaker 2 (04:55):
People come off. If I was your press secretary, I
would have said to you now, minister, I will make.
Speaker 1 (05:03):
Sure you get it next time here, though, will everyone?
Speaker 2 (05:05):
Because I would have I would have said it. Because
I mean, it's not that I really care, but because
I would have said to you send it out to everyone.
Otherwise you're going to be accused like you are today
by stuff of being a bit weird and shady, so
we not run that.
Speaker 1 (05:20):
We signaled the intent clearly to the market participants. We
sent the information out and the official announcement was also
on all the websites and all that, So not a
big issue.
Speaker 2 (05:30):
It just defended. I mean, you've got good ground here, right,
Thank you, Simon, appreciate your time. As always, Simon, what's
the climate change minister? I'm going to be honest with you.
It wasn't trying. It was no gotcha there. I was
literally just trying to get him to do my work
for me. But then he wasn't going to do my
work for me. So I did the work so well,
actually I'm not even gonna lie. Laura did the work.
So Laura looked it up. So here's what happened with
(05:52):
the carbon price. It went down twenty percent, and then
there was at the start of day, then it recovered
and now it's down ten percent. So for more from
Heather Duplessy Allen Drive, listen live to News Talks it
B from four pm weekdays, or follow the podcast on iHeartRadio.
Keeping track of where the money is flowing.
Speaker 2 (00:02):
The Business Hour with Heather Duplicyl and Maz for insurance investments,
Julie Safer, You're in good hands. News talks Ben coming
up in the next hour, Genative trainee on Adrian or
threatening legal action and house prices being at the upper
end of sustainable, Milford Asset Management on the big shorts,
(00:23):
take on the AI stock value and Gavin Gray will
be with us out of the UK, and we'll definitely
talk about the BBC right now at a seven past six. Now,
climate Change Minister Simon Watts has made quite significant changes
to our climate laws. The emission's trading scheme no longer
has to align with the Paris Agreement, the public Service
doesn't have to be carbon neutral until twenty fifty and
the Climate Change Commission will no longer produce a draft
(00:45):
emission's reduction plan for the government. And Simon Watson is
with us now. High Simon, Hey, good evening, Heather. Now
why have you decided to decouple the ETS from the
Paris Agreement.
Speaker 1 (00:55):
Well, first and foremost, the ETS deals with domestic commissions.
The Paris Agreement deals with international and so we've simply
just made the change which reflects the reality of how
the ETS works. It focus on domestic emissions reduction and.
Speaker 2 (01:11):
Does it also allow you Is it not also practically
now allowing you to be able to buy offshore credits
rather than having to reduce your domesticssion.
Speaker 1 (01:21):
It has nothing to do with that, And just for
the record, I think we've talked about that before. The
government doesn't have any plans in play at the moment
to do that right now. We're focusing on domestic emissions
reduction as the priority.
Speaker 2 (01:34):
What's happened to the carbon price today as a result
of this?
Speaker 1 (01:38):
Look, I haven't seen the latest number in terms of closing,
and I don't comment on the price in the market,
but look there's been you know, my price goes up
and down like any market.
Speaker 2 (01:48):
And so does it fallen today.
Speaker 1 (01:51):
I haven't got the latest numbers. It was some change
this morning, but in terms of this afternoon, my understanding,
it's firmed up a little bit.
Speaker 2 (01:58):
Oh okay, So how much did it fall by the morning.
Speaker 1 (02:02):
I don't hear that. I don't comment on the broader price.
Speaker 2 (02:05):
I can tell us. I'm not asking you for your
take on I'm just asking you what you saw.
Speaker 1 (02:10):
My understanding is that it's softened this morning and has
then recovered back up. So I think my understanding from
what I heard, it was about ten percent.
Speaker 2 (02:18):
Down on the day, and the ETS is anyway, when
we can talk about the ETS another day. Now, why
did you push out the public service carbon neutrality from
this year to twenty fifty?
Speaker 1 (02:27):
Oh yeah, I mean, Look, to be fair, there is
a huge amount of process and bureaucracy that's in play
with the climate change response. At from a public sector
point of view, everyone's focusing on twenty fifty. The last
government put in this objective to have them neutral by
twenty twenty five. That's not realistic. Our priority across the
(02:47):
public service is getting them focused on delivering good public
services for less money.
Speaker 2 (02:54):
Far off being carbon neutral, were they like was it
within touch or was it just miles away?
Speaker 1 (03:00):
Look, there's some parts of the sector, you know, you
think about all the coal burners and that in hospitals
and schools. You know, they've got quite a bit of
work to do in that space. But also some of
it's just not realistic or feasible right here right now,
and like as a government, we want them focused on
core public service delivery, and I've given them to twenty
fifty because guess what everyone else in the country is
(03:21):
targeting that the deadline as well.
Speaker 2 (03:22):
So okay, why sideline the Climate Change Commission? If we've
got a climate change commission, why sideline it? Why not
just get rid of the thing altogether.
Speaker 1 (03:31):
Look, there's been quite a few on the left that
have said that, and I don't subscribe. What we did
have in play is that we've got duplication. I do
a process to consult on my plan and the Climate
Change Commission exactly the same time consults on their plan,
and it ends up just being you know, duplication and
the waste of effort. I've said, look, you guys don't
(03:53):
need to do that. I'll consult with the public and
by the way, you use that time and capacity to
just be on other aspects. There's a lot of duplication
in this process. I'll tell you there's a lot of
bureaucracy as well, and I'm just taking a clean look
at it and going, look, let's cut ahold of the
stuff out that's not adding value, because guess what, you know,
we can't afford to be wasting money on stuff that
(04:15):
we don't need.
Speaker 2 (04:16):
To be doing fair enough now. All of the stuff
is defendable. So why were you a bit shady about
it last night? Why pop it up on the Beehive
website and not send a press release out to everybody
like you always do?
Speaker 1 (04:27):
Ah here there, I'm not being there's nothing shady about this.
The market closes at eight o'clock. Because the stuff is
considered market sensitive, I'm not allowed to release it until
the market closers. We sent it out. We sent it
out to a select number of.
Speaker 2 (04:42):
That's my question topic. What did you send it out
to each?
Speaker 1 (04:46):
Look, we sent it out. It was put on the
public on the Beehive. I'm not trying to hide anything here.
I get a lot of hassle something just so you
know on people going were you're sending out too many.
Speaker 2 (04:55):
People come off. If I was your press secretary, I
would have said to you now, minister, I will make.
Speaker 1 (05:03):
Sure you get it next time here, though, will everyone?
Speaker 2 (05:05):
Because I would have I would have said it. Because
I mean, it's not that I really care, but because
I would have said to you send it out to everyone.
Otherwise you're going to be accused like you are today
by stuff of being a bit weird and shady, so
we not run that.
Speaker 1 (05:20):
We signaled the intent clearly to the market participants. We
sent the information out and the official announcement was also
on all the websites and all that, So not a
big issue.
Speaker 2 (05:30):
It just defended. I mean, you've got good ground here, right,
Thank you, Simon, appreciate your time. As always, Simon, what's
the climate change minister? I'm going to be honest with you.
It wasn't trying. It was no gotcha there. I was
literally just trying to get him to do my work
for me. But then he wasn't going to do my
work for me. So I did the work so well,
actually I'm not even gonna lie. Laura did the work.
So Laura looked it up. So here's what happened with
(05:52):
the carbon price. It went down twenty percent, and then
there was at the start of day, then it recovered
and now it's down ten percent. So for more from
Heather Duplessy Allen Drive, listen live to News Talks it
B from four pm weekdays, or follow the podcast on iHeartRadio.
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