Climate finance talks with New Zealand are expected to test Australia's relationship with the recently elected right-leaning government.
Subscribe now for unlimited access.
or signup to continue reading
Treasurer Jim Chalmers and Climate Change and Energy Minister Chris Bowen will host talks in Brisbane on Tuesday with their counterparts, Minister for Finance Nicola Willis and Minister for Climate Change Simon Watts.
"This is about aligning our efforts and making the most of the net-zero transformation under way in our economies," Dr Chalmers said.
"Energy security, economic security and resilience more broadly are central to the stability of our region and will be central to discussions with our counterparts this week," he said.
As allies move to secure regional ties and non-China supply chains, Dr Chalmers said volatility in the global economy and changes to the geo-strategic environment in the region were "complex and confronting".
Ms Willis said the talks were an opportunity to deepen the trans-Tasman relationship while "working together towards climate resilience and economic growth" amid growing geopolitical challenges.
"We value Australia as our most important economic and trade partner," she said, although China is Australasia's biggest customer.
New Zealand has changed course under the Chris Luxon-led government elected in October by ditching Jacinda Adern-era climate commitments.
Agriculture, the source of almost half of the country's greenhouse gas emissions, won't be counted as part of the New Zealand Emissions Trading Scheme, among proposed amendments to climate laws.
A national policy statement on renewable energy generation is yet to be made public, as a fast-track approvals bill covering a much broader swathe of infrastructure is being pushed through.
Mr Watts said climate change was already affecting people on both sides of the Tasman, and New Zealand government had reiterated its commitment to meeting its targets to reduce the impacts of climate change and prepare for its future effects.
While it is on track for 2030, New Zealand's emissions to 2035 are forecast to be seven per cent higher than previously targeted.
China's growing influence and finance to withstand climate change are also on the agenda of a Pacific Islands Forum Economic Ministers Meeting that Dr Chalmers will attend on Thursday and Friday
"Strengthening longstanding partnerships with our friends across the ditch and in the Pacific is key to the safety and prosperity of our region," he said.
Mr Bowen said Australia's "ambitious plans" were not possible without further strengthening the relationship with Pacific partners.
"We will need new infrastructure built, we will need the financial and administrative scaffolding to support new industries and we need new technology, and to collaborate on developing that new technology," he said.
Australian Associated Press
