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Budget 2025 | The Government has introduced changes to Working for Families and KiwiSaver as well as introducing Investment Boost: an immediate tax deduction when acquiring new business assets. Find out more: www.budget.govt.nz

We set our emissions reduction targets in 2022, covering the mandatory emission sources as defined by the CNGP. We are targeting reductions of 43% by 2025 and 50% by 2030, against our base year of 2018–19.

Current modelling indicates we will better our 2025 reduction target. Measured emissions are currently 52.8% lower than the 2018–19 base year.  At the end of 2024–25, IR will need to offset all remaining mandatory emissions to achieve carbon neutrality.

Reduction targets
Year Actual Target 1.5℃ requirement Forecast
2019 6,389 - 6,389 6,389
2020 5,620 - 6,389 5,620
2021 2,851 - 6,121 2,851
2022 2,235 - 5,852 2,235
2023 2,848 - 5,584 2,848
2024 3,016 - 5,316 2,944
2025 - 3,642 5,047 2,793
2026 - - 4,779 2,693
2027 - - 4,511 2,620
2028 - - 4,242 2,555
2029 - - 3,974 2,497
2030 - 3,194 3,706 2,445
Last updated: 05 Dec 2024
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