Topics tagged with 'Emissions trading'
UK Carbon Reduction Commitment – a lesson for New Zealand firms
8 Aug 2008
New Zealand organisations wishing to participate in the New Zealand Emissions Trading Scheme – if the relevant legislation is passed into law – are being urged to act quickly if they want to operate in a carbon restrained market-place.
ASX plans early futures market for emissions trading
8 Aug 2008
The Australian Securities Exchange has announced its intention to facilitate emissions trading at the earliest opportunity.
Time getting tight for Government's ETS bill
5 Aug 2008
The Government is going down to the wire on its emissions trading scheme.
Asia emerging as centre of carbon trade programme
5 Aug 2008
Financial market analysts expect increased participation of Asian countries in the carbon credit trade, with most of them cornering big investments in clean development mechanism (CDM) projects.
Airlines under pressure to reduce freighter flight emissions
5 Aug 2008
The question of just how big a carbon footprint air cargo creates and what can the industry do to lessen its impact on the environment are becoming increasingly difficult to ignore.
BP: What it says over there - and here
1 Aug 2008
The head of BP says a cap and trade system is the best way of creating conditions to reduce emissions.
NZX will use TZ1 to throw off the shackles and go global
1 Aug 2008
Mark Franklin, the former head of Vector who now heads the NZ Stock Exchange’s thrust into the carbon-trading sphere, knows that simplicity instead of complexity carries the day.
Words in the House over ETS support talks
1 Aug 2008
So how are the support talks going to get votes to pass the emissions trading bill?
China enters pact with UK carbon trading player
1 Aug 2008
British carbon exchange specialist Climate Exchange has confirmed that it has signed an agreement with the Chinese authorities to start an emissions trading scheme in the country.
Australians strongly back carbon trade scheme, poll shows
1 Aug 2008
Australians overwhelmingly back government plans to introduce one of the world's biggest carbon trading schemes, a poll found this week.
Firms found to be ill-prepared for cap-and-trade scheme
1 Aug 2008
Many UK firms remain unprepared for the introduction of a cap-and-trade scheme, and have little experience of the IT systems and trading processes that will be required to comply with the new legislation.
AUGUST 18-20: Climate change and business conference - Rudd and Clark appearing
1 Aug 2008
Prime Minister Helen Clark and Prime Minister Kevin Rudd will speak at the Fourth Australia-New Zealand Climate Change and Business Conference in Auckland this month.
AUGUST 18: Clean billions on conference agenda
1 Aug 2008
Hundreds of business people are being brought together in Auckland on August 18 to discuss new technology and investment opportunities which could earn New Zealand billions of dollars as the world responds to climate change.
Heavy falls in prices right across the strip
31 Jul 2008
Prices right across the carbon strip fell heavily last night after France announced it had issued 132 million allowances.
Latest Strip of CER’s 2008 – 2012 Vintage – Indicative Mid Prices
31 Jul 2008
OMF is able to deal over the counter (OTC) on prices in size. Prices below are indicative, subject to change and subject to counterparty credit assessment.
BREAKING NEWS: Government calls for tough CDM regime
29 Jul 2008
New Zealand is calling for tougher rules around carbon credits and investments, saying that governments should be required to monitor and enforce minimum requirements for clean development mechanisms.
Millions on research could mean billions in earnings
29 Jul 2008
Research into renewable energy is booming – and could lead to multi-billion-dollar earnings if New Zealanders can get their products to the market first.
Aussie opposition plans response to Rudd's green paper
29 Jul 2008
Liberal and National MPs will gather in Canberra today and tomorrow to hammer out a response to the Rudd government's green paper on an emissions trading scheme.
Australians singing the same old song
29 Jul 2008
New Zealanders watching debate across the Tasman in the wake of the Australian Government's release of its draft emissions trading scheme can be forgiven a sense of deja vu.
We'll fight for our forest rights, owners warn ETS policy-makers
25 Jul 2008
Kyoto Forest Owners say they will wage war if either major political party reneges on promises over carbon credits worth millions of dollars.
ANALYSIS: Heavy emitters and National scoring major own goal
25 Jul 2008
The little-covered press release issued by the Kyoto Forestry Association this week, seeking major-party assurances its members will still get hundreds of millions of dollars worth of carbon credits, speaks of the unspeakable position anti-emissions trading campaigners have got themselves and others into.
Hungary joins us in international carbon trading scheme
25 Jul 2008
Hungary has joined New Zealand and three other countries in linking to a carbon trading scheme under the Kyoto Protocol, allowing the country to sell government-level emissions permits, a Hungarian ministry spokesman said.
Kyoto foresters seek assurances on Labour and National's carbon credit promises
25 Jul 2008
The Kyoto Forestry Association (KFA) is seeking assurances from the Labour and National parties that their 2007 promises to post-1989 forest owners, worth hundreds of millions of dollars, can continue to be relied upon.
Public wants help with ETS costs, survey shows
22 Jul 2008
Overwhelming public support for help for households in coping with the costs of an emissions trading scheme could provide the impetus to get the scheme passed before the election.
Fertiliser companies' carbon move could cost consumers
22 Jul 2008
A push by fertiliser companies to sheet home carbon dioxide emission charges to the “end users” of the fertiliser has conjured up the possibility of a carbon levy or surcharge on consumer foodstuffs sold in supermarkets and elsewhere.
In time, Australia and NZ ETS plans can work together, say governments
18 Jul 2008
Australia and New Zealand have developed different emissions trading schemes because their economies are different, but will bring the schemes together over time. That’s the message from Wellington and Canberra this week as the governments of both countries push ahead with plans for emissions trading regimes as key planks of their climate change strategies.
Australia gets ETS agriculture right, say New Zealand farmers
18 Jul 2008
New Zealand farmers say they are sympathetic to Australia’s desire for caution over bringing agriculture into an emissions trading scheme.
Tell us how to cope with ETS, Business Council urges Government
18 Jul 2008
The Government would win more political support for emissions trading scheme if it told New Zealanders how it will help them to cope with the costs of the scheme, says the New Zealand Business Council for Sustainable Development.
Maori Party sticks to polluters-should-pay stance on ETS fuel plans
18 Jul 2008
The Maori Party is unlikely to push for an Australian-style buffer against the effects of increased fuel prices under New Zealand’s proposed emissions trading scheme.
Long-haul airlines to get carbon relief from Europe
18 Jul 2008
Airlines flying long-haul to Europe will get extra allocations of carbon credits under the European emissions trading scheme, says the European Commission to New Zealand.
Spending on science and innovation is best for combating climate change
18 Jul 2008
There are technological solutions to the problems created by technology, writes Kim Carr, Australia’s Minister for Innovation, Industry, Science and Research:
Consider Aussie ETS before passing bill, say Nats
18 Jul 2008
New Zealand needs to give careful consideration to the design of the Australian emissions trading scheme before passing the current bill, says National Party Climate Change spokesman Nick Smith.
Parker, Swan meet tomorrow to talk emissions trading
16 Jul 2008
Australia’s proposed emissions trading scheme will be top of the agenda for a meeting between New Zealand Climate Change Minister David Parker and Australian Treasurer Wayne Swan tomorrow.
Australia announces all-gases and almost-all sectors ETS
16 Jul 2008
Australia has announced a proposal for a broad emissions trading scheme that covers all six greenhouse gases and every sector except agriculture.
REACTION: Green Paper gives cold comfort to those wanting to delay emissions trading
16 Jul 2008
The Green Paper outlining the Australian Government’s thinking on emissions trading shows it is well aligned with New Zealand’s plans, says the New Zealand Business Council for Sustainable Development
REACTION: NZ emission scheme should pick up some Aussie ideas, say forest owners
16 Jul 2008
Forest owners have welcomed the release by the Australian Government of its preferred policies to reduce greenhouse gas emissions.
Acting on climate change: towards an Australian carbon pollution reduction scheme
16 Jul 2008
The following is the official summary of the Australian Government’s green paper on climate change, released today by Prime Minister Kevin Rudd, Treasurer Wayne Swan and Climate Change Minister Penny Wong.
World won't buy ETS dream, top economist tells Aussies
15 Jul 2008
Australians are being told by one of the world’s leading economists that the world will never support an emissions trading regime.
Green economy good for jobs and business, says union expert
15 Jul 2008
New Zealand can be cautiously optimistic that shifting to a green economy will be good for jobs and business, as a new report in Australia predicts up to three million new jobs will be created under a green economy.
Air NZ reviewing implications of EU emissions plan
15 Jul 2008
Air New Zealand remains tight-lipped over the possible impact of the European Parliament’s second-reading vote in favour of including aviation in the European Union’s emissions trading scheme in 2012.
ANALYSIS: Australian Green Paper: Will faces here go green or red?
15 Jul 2008
ANALYSIS: The Green Paper on Australia’s emissions trading scheme, being published tomorrow, could have policy and political repercussions in New Zealand.
Poll shows most of us want action on climate change
11 Jul 2008
Another poll has confirmed that most New Zealanders believe that climate change is human-induced and want to take action.
NZIER-funded polling shows coalition deal may have to deliver ETS policy
11 Jul 2008
Emissions trading is an issue of great concern to Maori and Green party voters - and the major parties might need them to form a coalition after this year's election.
NZ, Australia emissions schemes sit happily together, says Parker
11 Jul 2008
New Zealand and Australia’s emissions-trading schemes are compatible and line-up on the basics, says Climate Change Minister David Parker.
Gas the way to go for home heating, say manufacturers
11 Jul 2008
Switching to gas and LPG for heating our water, our homes and for cooking could reduce New Zealand’s CO2 emissions by nearly two million tonnes each year and provide an important interim step towards renewable energy solutions, say New Zealand’s gas and LPG associations.
ANALYSIS: The NZIER and friends' poll slip is showing
11 Jul 2008
A close-call election result is probably not what the NZIER and its major emitter study funders would have most liked in the results of their June TNS Conversa poll.
Roundtable: NZIER survey confirms ETS proposals lack support
11 Jul 2008
“The New Zealand Institute of Economic Research survey confirms what the Business Roundtable has been saying: that the government has failed to make a robust case to the public that further action against climate change is in New Zealand’s interests, and that without public support any action is likely to be politically unsustainable”, Roger Kerr, executive director of the New Zealand Business Roundtable said.
Paper giant might fold and flee if NZ emissions scheme 'hostile'
8 Jul 2008
International paper giant Norske Skog might quit New Zealand if it is confronted by what it regards as a hostile emissions regime, sources say.
NZIER releases public poll on climate change
8 Jul 2008
New research shows there is little public support for the proposed emissions trading scheme, says the New Zealand Institute of Economic Research.
Bid to review Kāpiti Coast climate emergency declaration fails
Mon 15 Jun 2026
By Justin Wong, Local Democracy Reporter | Kāpiti Coast councillors have rejected a motion to review the local district council’s climate emergency declaration.
Fonterra backs Canterbury solar in long-term power deals
Today 12:15pm
By Shannon Morris-Williams | Fonterra has signed two long-term power purchase agreements with solar developers in as many days, backing more than 170MW of new renewable generation in Canterbury.
$30m airline fund risks ‘burning public money’ without lasting benefit – expert
20 Mar 2026
By Shannon Morris-Williams | A $30 million government package to support regional air routes risks delivering poor value for money while increasing emissions, according to transport strategist Tim Adriaansen.
Airline CEOs warn EU plan to expand carbon costs will raise fares
10 Jun 2026
Europe's biggest airlines have urged the European Union not to extend its Emissions Trading System to cover international flights, warning the move would raise ticket prices, a letter seen by Reuters showed.
NZ biodiversity credits top global rankings
Tue 16 Jun 2026
By Shannon Morris-Williams | A New Zealand biodiversity credit project has topped global sales rankings, with Sanctuary Mountain Maungatautari accounting for 43% of worldwide biodiversity credit transactions in May and adding momentum to the country's emerging voluntary nature market.
Huntly biomass option no cheap fix, Genesis tells MPs
28 May 2026
Genesis Energy says biomass can be burned in Huntly's Rankine units, but current costs put it in roughly the same price range as imported LNG and extra Rankine capacity would be expensive and could take years.
Climate change minister tight-lipped on ACT climate policy
Tue 16 Jun 2026
By Liz Kivi | Climate Change Minister Simon Watts is keeping his cards close to his chest about the ACT Party’s election campaign pledge last week that it would resubmit New Zealand’s Paris Agreement target.
Nearly half the world's children exposed to three or more climate risks: UNICEF
Today 12:15pm
More than one billion children face at least three overlapping climate hazards, UNICEF warned Monday, while highlighting the disproportionate impact in some regions of the world.
Govt looks to tighten ETS auction supply
Fri 12 Jun 2026
By Liz Kivi | The Government is consulting on auctioning fewer ‘pollution permits’ for 2027-2031, a move it says would help meet the country’s domestic emissions targets while also maintaining short-term confidence in the ETS.
Trump wants to put a $75m coal terminal in this liberal California city. Residents aren’t having it
Today 12:15pm
Residents of West Oakland, which suffers from toxic waste and high pollution rates, is rallying against a coal export facility.
NZ’s sustainable finance credibility gap
5 Jun 2026
By Manbo He | COMMENT: New Zealand has built serious sustainable finance infrastructure - but risks failing to attract the global capital that infrastructure was designed for, because it lacks the practitioner capability to operate it credibly.
Green building council calls for clean energy policies
18 May 2026
The New Zealand Green Building Council has released its 2026 election manifesto calling for policies to reduce energy waste in buildings, lower household and business energy costs, and improve New Zealand’s energy security.
What Magyar’s defeat of Orbán in Hungary means for climate and energy
21 Apr 2026
Hungary has played a disproportionate role in EU climate and energy policy in recent years, by repeatedly vetoing climate action and by delaying the phaseout of Russian fossil-fuel imports.
LNG import terminal could cost NZ economy $6.2 billion: Concept Consulting
Today 7:00am
By Oli Lewis | The benefits of a liquefied natural gas (LNG) import terminal to provide insurance against dry year energy prices would be outweighed by the wider costs to the New Zealand economy, a new report says.
Environmental groups call for ETS reform
20 Feb 2026
Several environmental organisations are calling on political parties to make climate and biodiversity central to the 2026 election campaign, with reforming the Emissions Trading Scheme seen as a key priority.
Australia declares El Nino set to be strongest in decades
Today 12:15pm
Australia's weather bureau warned on Tuesday that an El Nino weather pattern has formed in the tropical Pacific and could intensify in the second half of 2026 to become one of the strongest in seven decades.
EDS urges MPs to scrap the Fisheries Amendment Bill
5 May 2026
Media release | The Environmental Defence Society today lodged a substantive submission on the Fisheries Amendment Bill.
GHG Protocol under fire as standards board member resigns
Thu 11 Jun 2026
At the heart of former GHG Protocol standards board member Danny Cullenward’s complaint is the protocol’s approach to forest carbon accounting.
Carbon capture and the need for ‘net zero oil’
Tue 16 Jun 2026
By Pattrick Smellie | The answer to making carbon capture and storage work is to make fossil fuel producers responsible for making it happen rather than consumers, says Oxford University climate change policy expert, Professor Myles Allen.
Ballance secures gas for 2026 as it progresses energy transition plan
Tue 16 Jun 2026
By Oli Lewis | One of the largest industrial gas users in New Zealand is working on an energy transition plan to futureproof domestic fertiliser manufacturing, while continuing to secure ongoing gas supply contracts.
Cabinet green-lights $55M super-critical geothermal drilling programme
9 Jun 2026
By Pattrick Smellie | Cabinet has agreed to release the $55 million unspent of the $60m secured by Resources Minister Shane Jones to drill up to 5 kilometres deep into super-critical geothermal heat under the Taupō volcanic zone.
Lack of finance stalling sustainable innovation – report
Fri 12 Jun 2026
By Shannon Morris-Williams | A lack of access to suitable finance is threatening growth in New Zealand's sustainable innovation sector, despite strong confidence and ambitious expansion plans among purpose-driven businesses, according to a new report.
Antarctic surface melt set to increase dramatically this century, new study finds
10 Jun 2026
Media release – Victoria University | New research shows surface melting across Antarctica is set to intensify and spread dramatically over the 21st century, with melt increasing by 10 times and the area affected growing by more than 10 percent by 2100 if global temperatures continue to rise.
Govt climate claims don't match reality, lawyers say
Today 12:15pm
By Shannon Morris-Williams | Lawyers for Climate Action has accused the Government of presenting an overly positive picture of New Zealand's climate progress at the United Nations climate summit in Bonn, arguing key claims on emissions reductions and support for the Paris Agreement's 1.5°C goal are not reflected in domestic policy.
Importing LNG would raise costs and emissions: it’s a terrible decision for New Zealand
9 Jun 2026
COMMENT: Today’s announcement from the Government is political smoke and mirrors, with electricity users’ wallets still set to bear the brunt of the proposed LNG facility, writes Christina Hood.
Victorian Hydrogen announces Southland urea fertiliser project using coal
22 Apr 2026
By Liz Kivi | Australian-based Victorian Hydrogen has announced it is developing a new 1.5 million-tonne-a-year urea fertiliser operation in Southland, which it will apply for under fast-track legislation.
'Ad hoc, piecemeal, incomplete': NZ's approach to hazards not fit for purpose, says insurer
10 Jun 2026
By Shannon Morris-Williams | New Zealand's ability to manage natural hazard risks is failing to keep pace with the growing threat posed by floods, storms, earthquakes and climate change, according to a new report from IAG.
Climate law change spanner in the works for Waitangi Tribunal Inquiry
19 Dec 2025
By Liz Kivi | The Government’s controversial changes to New Zealand’s legal framework for climate policy have thrown a spanner in the works for a long-running Waitangi Tribunal Inquiry into climate change.
Media round-up
Fri 12 Jun 2026
In our round-up of climate coverage in local media: A legal expert labels the government's climate law change "constitutionally abhorrent", the first critical minerals project has applied for fast-track, and warming winters are changing New Zealand’s landscapes.
LNG imports might not be needed for 'dry year' security: redacted report
Thu 11 Jun 2026
By Oli Lewis | The need for imported liquefied natural gas to provide security of supply in a dry year is low, according to newly released modelling, with some scenarios featuring higher levels of renewable generation requiring no gas imports at all.
Changes to emissions factors prompt caution over climate claims
4 Jun 2026
By Shannon Morris-Williams | Organisations may need to revisit how they calculate and communicate their greenhouse gas emissions after the Ministry for the Environment released an updated version of its Measuring Emissions Guide, incorporating new emissions factors based on New Zealand's latest greenhouse gas inventory.
Climate risks could reshape business finances, new guidance warns
15 Apr 2026
By Shannon Morris-Williams | New guidance warns climate change is set to fundamentally reshape financial outcomes for businesses, including difficult-to-model climate “tipping points” – irreversible changes such as ice sheet collapse or ocean circulation shifts – which threaten severe and sudden financial impacts.
ACT climate policy ‘disingenuous,’ says former top climate diplomat
Mon 15 Jun 2026
By Liz Kivi | ACT’s election campaign pledge to submit a new international climate target to the United Nations is “totally disingenuous", according to New Zealand’s former climate ambassador Kay Harrison.
Coromandel protections could be stripped away for mining through hidden law change
Today 12:15pm
Media release| Forest & Bird is warning that a hidden provision in the Government’s Conservation Amendment Bill could strip away long-standing protections and open up parts of the Coromandel Peninsula to mining.
‘A shame’: experts on decision to send Govt carbon auctions offshore
10 Jun 2026
By Liz Kivi | Carbon market experts are questioning whether the Government has made the right decision in sending its auctions of carbon 'pollution permits' worth billions of dollars offshore.
NZ's latest climate target 'weak' – Climate Action Tracker
24 Jun 2025
By Shannon Morris-Williams | New Zealand's new international climate target to 2035 is weak, and could even allow for higher emissions than the 2030 target, according to a global scientific project that tracks government climate action.
Once-in-a-century floods routine as sea levels rise due to climate change
Thu 11 Jun 2026
By Shannon Morris-Williams | A coastal flood expected to occur just once every 100 years is now hitting Wellington about twice a year, according to new international research that scientists say offers clear evidence of how climate change is already reshaping New Zealand's coastline.
Hipkins pans LNG plan as ‘massive step backwards’
19 May 2026
By Liz Kivi | Labour leader Chris Hipkins has told a Queenstown audience that a Government he leads would not proceed with a planned LNG import terminal, if elected at November’s election.
UN’s first Paris Agreement carbon credits face human rights and climate concerns
Today 12:15pm
Civil society groups allege the cookstove project in Myanmar exaggerated its climate impact while maintaining ties with military junta.
A real ‘intergenerational equity’ budget would address Australia’s unceasing environmental decline
15 May 2026
Labor has unveiled a budget designed to tackle intergenerational equity in Australia through bold tax reform.
Six NZ climate solutions up for 2026 Earthshot prize
21 May 2026
By Shannon Morris-Williams | Six New Zealand climate and sustainability initiatives have been nominated for the 2026 Earthshot Prize, with the shortlist showcasing Kiwi-led solutions tackling emissions, plastic waste and ocean restoration.
Steel and chemicals giants demand freeze to EU’s flagship climate policy
Today 12:15pm
The attack on the Emissions Trading System is among industry's most direct calls yet for the EU to change course on climate.
Northern Thai residents march for action on polluted rivers. ‘This is an emergency’
9 Jun 2026
More than 600 residents of Chiang Mai and Chiang Rai provinces embarked May 31 on a roughly 68-kilometer, six-day ‘peace walk’ to demand the Thai government take action on the river pollution crisis that has seen Thai rivers polluted with heavy metals.
Why China's critical minerals strategy leaves the US behind
8 Jun 2026
The United States cannot realistically recreate that dominance overnight even if the political will existed.
Sustainable finance taxonomy for energy sector – consultation
8 Jun 2026
The Centre for Sustainable Finance is consulting on the sustainable finance taxonomy’s draft energy sector criteria.
New Zealand faces $26b energy infrastructure challenge, report warns
Mon 15 Jun 2026
By Shannon Morris-Williams | New Zealand will need an additional $26 billion of investment in energy infrastructure over the next 30 years to meet its decarbonisation goals, with a new report warning that policy certainty is critical to unlocking the renewable generation needed to power a low-carbon economy.
‘Landmark’ conservation reform bill – boost or bust for nature?
8 May 2026
By Liz Kivi | The Government has announced an overhaul of the country’s conservation system, which environmental organisation Forest & Bird says will undo the work of many generations of Kiwis to protect public conservation land.
EU climate policy ‘won’t survive’ its clash with EU farmer politics
Fri 12 Jun 2026
By Pattrick Smellie | European Union climate change policy is on a collision course with European farmer politics, exacerbated by the rise of populist right-wing parties in the UK and the Continent, says Oxford University professor of geosystem science, Myles Allen.
Solar overtakes gas power in Asia for first time ever
Mon 15 Jun 2026
Solar has overtaken gas power in Asia to become the continent’s third-largest source of electricity, according to new analysis by Carbon Brief.
Carbon trading schemes cut more emissions than carbon taxes, according to global study
20 Mar 2026
By Shannon Morris-Williams | Carbon trading schemes are more effective than carbon taxes at reducing emissions, cutting fossil fuel use, and accelerating the shift to renewable energy, a global study has found.
Govt backs faster uptake of on-farm emissions tools with $51m fund
Thu 11 Jun 2026
By Shannon Morris-Williams | The Government is investing up to $51 million over three years to help accelerate the uptake of on-farm emissions reduction technologies, with a new AgriZeroNZ initiative aimed at getting proven tools into the hands of farmers sooner.
Pacific climate response in question as NZ finance remains unclear
19 Dec 2025
By Shannon Morris-Williams | With New Zealand's $1.3 billion international climate finance commitment set to end with no clarity on what follows, the Auditor-General says oversight of that funding remains patchy and long-term outcomes are unclear.
Labour pledges unlimited public transport for $20 a week
10 Jun 2026
The Labour Party is promising to cap weekly public transport fares at $20 in Auckland, Wellington and Christchurch, if elected in November.
Project linking food waste to cutting methane emissions gets underway
27 May 2026
Media release | Kai Commitment is leading a New Zealand-first project to help understand the connection between food waste and methane emissions and identify effective interventions.
Record-breaking heat and dry spring leave parts of England without water
2 Jun 2026
Thousands of households in southeast England were left without water or facing low pressure during a record-breaking heatwave this week, as high demand followed a dry spring to expose the failings in Britain's ageing infrastructure.
Increase in wildfire-driven ozone linked to premature deaths across the U.S.
10 Jun 2026
Smog linked to wildfires is getting worse across much of the U.S., playing a role in more than 300 additional premature deaths every year since 2013, researchers say.
Waikato launches vision for energy transition bringing $4.5 billion investment to the region
8 Jun 2026
By Shannon Morris-Williams | Waikato Regional Council has released a strategy aiming to position the region at the centre of New Zealand's energy transition, with plans to boost energy security, cut emissions and unlock billions of dollars in economic opportunities by 2050.
