Topics tagged with 'Energy'
Crown Minerals Bill progresses
26 Nov 2024
The Crown Minerals Amendment Bill is set to pass into law in the last parliamentary session of the year beginning December 10.
Energy market settings holding back demand response
25 Nov 2024
A study of large energy users has concluded that changes to the electricity market are needed to make demand response management viable.
Complex Article 6 rules pave way to unruly carbon markets
25 Nov 2024
Media release | Despite the best efforts of activists and some climate negotiators, the agreement reached on Article 6 carbon markets at COP29 in Baku risks facilitating cowboy carbon markets at a time when the world needs a sheriff.
New govt to blame for drop in climate rankings
22 Nov 2024
New Zealand has fallen seven places to rank 41st in this year’s Climate Change Performance Index, with experts saying the country has taken significant backwards steps in climate policy since the new National-Act-NZ First coalition government came into power.
Contact Energy to build a new geothermal plant at Wairakei
21 Nov 2024
Contact Energy has announced a significant investment in the redevelopment of its Wairakei geothermal power station.
Why (and how) I’m taking the two tonne challenge
15 Nov 2024
OPINION: By Emily Mabin Sutton | To meet our “fair share” of international climate targets, every person on Earth needs to emit less than 2.5 tonnes of carbon each year by 2030. But what does this look like in reality in New Zealand?
Govt ring-fences $60 million to investigate new geothermal energy
14 Nov 2024
The government is putting aside $60 million to investigate new geothermal energy generation technology, which has the potential to boost renewable energy output and slash emissions.
The world’s best hope to beat climate change is vanishing
13 Nov 2024
To have a chance against global warming, key economies and industries need to hit crucial emissions targets by 2030. They’re far off track.
Legislation to bring back oil and gas exploration advances
12 Nov 2024
The controversial bill to restart oil and gas exploration completed its second reading in Parliament last week after being reported back from select committee.
COP29 chief exec filmed promoting fossil fuel deals
11 Nov 2024
A senior official at COP29 climate change conference in Azerbaijan appears to have used his role to arrange a meeting to discuss potential fossil fuel deals.
Govt could make significant domestic reductions towards second NDC - but needs to hurry up
8 Nov 2024
The government could find much of the needed emissions reductions for its next Paris Agreement pledge at home – but needs to get on with it, says new analysis from the Climate Change Commission.
NZ can do better on climate policy, says auditor general
8 Nov 2024
New Zealand’s legislative framework is a strength of its response to climate change, however it is not doing so well in other areas, according to a new report.
New report spotlights how energy efficiency can reduce electricity demand
8 Nov 2024
Media release | A new report says energy efficiency has been a significant factor in subduing power demand and therefore household bills over the past 20 years.
Carbon price inching up as auction looms
7 Nov 2024
The carbon price is still inching up towards the auction floor, with the final auction for 2024 less than a month away. But the US election result means uncertain times for global environmental markets, according to an expert.
Review identifies risk to retail electricity competition
7 Nov 2024
Media release | A review of risk management options for electricity retailers by the Electricity Authority Te Mana Hiko has found that while there are a range and combination of solutions available to retailers, there is a potential risk to retail competition that the authority cannot ignore.
Electricity sector risks from climate change: analysis
6 Nov 2024
A review of the electricity sector's mandatory climate disclosures by Forsyth Barr has not changed the analysts’ investment views of the companies.
Solar’s rising shine in NZ
5 Nov 2024
Household solar and battery storage is expanding rapidly, according to Transpower.
Channel looks to energy centre - pushes out peak petrol prediction
4 Nov 2024
Channel Infrastructure has outlined ambitious plans for an energy precinct on its Marsden Point land using its infrastructure and assets to entice in other energy project developers.
Are Air New Zealand's biofuel hopes just pie in the sky?
1 Nov 2024
By Liz Kivi | Air New Zealand and LanzaJet say a study shows promising results for turning wood waste into jet fuel. However, experts say that making jet fuel from wood at an industrial scale is challenging and extremely unlikely to result in near-term emissions reductions.
US and European hydrogen stock prices collapse as prospects deflate
30 Oct 2024
Projects face lower than expected demand, regulatory uncertainties and growing investor scepticism.
Landmark court case sees activist group sue gas giant Santos for allegedly misleading investors
30 Oct 2024
Gas giant Santos told investors it had a clear plan to achieve net zero emissions by 2040 but had no evidence to back it up, the Federal Court has heard during the first morning of litigation against the gas giant.
Japanese youth sue utilities over climate impact
29 Oct 2024
A group of 16 Japanese young people is suing utility firms over their carbon emissions, in the latest case worldwide of activists using courts to press for action on climate change.
Investors are ramping up climate advocacy, with all eyes on COP29
29 Oct 2024
Investors the world over are calling on governments to use every tool in their toolbox, from fiscal carrots to regulatory sticks, to ensure industries can pivot and prosper in a clean energy future.
Offshore wind energy company pulls out of NZ
25 Oct 2024
Spanish offshore wind energy company Bluefloat has announced it is pulling out of its New Zealand projects, citing the potential clash with seabed mining off Taranaki.
A wind power crisis is holding back the world’s green energy goal
25 Oct 2024
While solar deployment is accelerating, bottlenecks in the wind industry are jeopardising the chance to meet a global target to triple renewable capacity by 2030.
Total emissions up 1.1 percent in June quarter
23 Oct 2024
Increase in the use of fossil fuels for electricity generation was the main driver behind a rise in total GHG emissions for the June quarter, according to Stats NZ.
Public EV chargers are good for business as well as the planet
23 Oct 2024
Research shows that businesses with charging stations nearby see an economic boost.
Solar surge will send coal power tumbling by 2030, IEA data reveals
22 Oct 2024
Global electricity generation from solar will quadruple by 2030 and help to push coal power into reverse, according to analysis of data from the International Energy Agency (IEA).
Toronto and Montreal move ahead with fossil fuel ad restrictions on transit
22 Oct 2024
The motions are backed by federal anti-greenwashing laws aiming to stem the tide of misinformation produced by Canada’s oil and gas industry.
Revealed: Biomass firm poised to clear Bornean rainforest for dubious ‘green’ energy
22 Oct 2024
Indonesia’s strategy for increasing renewable energy production could see Indigenous communities lose huge swathes of their forests to biomass plantations.
Govt policy statement urges Electricity Authority to keep up the pace
21 Oct 2024
The Government policy statement sent to the Electricity Authority puts an emphasis on implementing its past and current work programme as quickly as possible, while maintaining the market fundamentals.
New York officials call for big oil to be prosecuted for fueling climate disasters
21 Oct 2024
Oil majors’ conduct can constitute reckless endangerment due to fossil fuels’ effect on global heating, advocates claim.
LNG is worse for the climate than coal – new study
17 Oct 2024
A highly-anticipated peer-reviewed study finds that LNG has a greenhouse gas footprint that is 33% larger than coal. The data suggests the expansion of LNG is a major threat for the climate.
Lakes refill but concerns remain about next winter
15 Oct 2024
Lake Pūkaki returned to its long-term average storage level for the first time since May.
Gas utility sued for climate deception
15 Oct 2024
Multnomah County, Oregon, says NW Natural “engaged in an enterprise of misrepresentation” about its products’ harm to the climate.
If renewable power becomes too cheap to meter, is that a climate win?
15 Oct 2024
When any single climate fix seems too good to be true, it probably is.
Legal action filed against minister of transport over Clean Car Standard
14 Oct 2024
The Better New Zealand Trust, with the support of Lawyers for Climate Action NZ Inc, is taking the Government to court over what it says is an unlawful decision to weaken the Clean Car Standard.
Transpower backtracks on selling gas and carbon trading platform
11 Oct 2024
By Liz Kivi | Transpower has decided not to sell its gas and carbon trading platform, emsTradepoint, this year. However, the future of carbon trading on the platform is uncertain.
Renewable energy to fall short of UN goal to triple by 2030, IEA says
11 Oct 2024
Renewable energy sources are set to meet nearly half of all electricity demand by the end of the decade, but to fall short of a U.N. goal to triple capacity to reduce carbon emissions, an International Energy Agency report showed.
Genesis deal with ChargeNet gets mixed reaction
10 Oct 2024
Genesis Energy last week announced its intention to take a 65% shareholding in ChargeNet, New Zealand’s largest public electric vehicle (EV) charging network.
Can carbon credits help close coal plants?
10 Oct 2024
A few dozen kilometres from the Philippine capital Manila sits a coal plant that some hope could be a model for how developing countries can quit the polluting fossil fuel.
Australia suffers setback in green hydrogen race
10 Oct 2024
Australia’s bid to become a global hydrogen superpower has been dealt a blow, with the nation’s biggest energy utility pulling out of building a large-scale green hydrogen hub despite the project being shortlisted for a share of $2 billion of funding from the Albanese government.
Channel looks at multi-million dollar biorefinery at Marsden Point
8 Oct 2024
Channel Infrastructure is exploring a groundbreaking opportunity to transform its Marsden Point facility into a biorefinery, showcasing the potential of its real estate.
Exported gas produces far worse emissions than coal, major study finds
8 Oct 2024
New research challenges the idea that sending liquefied natural gas around the world is a cleaner alternative to burning coal.
Will carbon capture help the UK tackle climate change?
8 Oct 2024
There is a lot of rousing rhetoric today about carbon capture, following the government’s pledge of £21.7bn of public funds over the next 25 years to help kick-start the industry in the UK.
Environment the loser in govt's fast-track announcement, say critics
7 Oct 2024
Environmental groups and opposition parties are irate over the government's list of fast-track projects, with activists saying they will be "disasters" for the planet.
Carbon offset pioneer charged with $100 million fraud scheme
4 Oct 2024
US regulators say Australian national Ken Newcombe faked data for carbon credits investment. The Goldman and World Bank veteran denies the allegations but is facing up to 20 years in jail.
Barcelona is turning subway trains into power stations
4 Oct 2024
Barcelona is using its subways’ regenerative braking to power trains, stations and neighbourhood EV chargers. Could other cities do this?
What’s in it for us? Pātea pledges to mess with miners
3 Oct 2024
Seabed miners will face direct action on the waves if they are given Government fast-track approval, says Te Pāti Māori co-leader Debbie Ngarewa-Packer.
Fossil fuel dominance of India’s power mix to end by 2030, says central bank
3 Oct 2024
India's burgeoning economy continues to be overwhelmingly powered by fossil fuels including coal, but that dominance will be consigned to the history books by end of this decade, according to the country's central bank.
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.
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.
$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
Wed 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.
Millions of UK homes at risk of sinking as climate crisis worsens
Fri 12 Jun 2026
Millions of homes are at risk from climate-related subsidence, according to an analysis by the British Geological Survey.
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.
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.
El Niño under way and threatens weather extremes, scientists say
Mon 15 Jun 2026
The US National Oceanic and Atmospheric Administration has declared that El Niño conditions are now under way in the tropical Pacific, with sea surface temperatures having risen sharply in recent months.
Treasury says 2030 climate target could cost $5 billion
Thu 11 Jun 2026
By Liz Kivi | Treasury is predicting it could cost between $4.4 and $5 billion to buy the offshore mitigation needed to meet New Zealand’s 84-96 million tonne emissions reduction shortfall for its 2030 target under the Paris Agreement.
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.
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.
‘A shame’: experts on decision to send Govt carbon auctions offshore
Wed 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.
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.
China warns of risk of 'extreme floods' in desert regions
Mon 15 Jun 2026
China warned communities in its northwestern Xinjiang and nearby regions on Friday to prepare for "extreme floods" this summer, driven by abnormally high temperatures, heavy rainfall, and rapid glacier melt.
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.
World’s largest banks pledged $906bn to fossil fuel companies in 2025
Fri 12 Jun 2026
The world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found.
Liebreich: Electrify first, insure second
Thu 11 Jun 2026
New Zealand is having an argument about gas while the rest of the world is building an electric future. That, in essence, is the challenge Michael Liebreich left behind after a visit to Wellington last week.
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
Wed 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.
Why ‘greenhushing’ signals deeper issues with NZ’s climate risk reporting regime
15 May 2026
By Hang Pham, Te Herenga Waka — Victoria University of Wellington | Most of us are familiar with the concept of greenwashing: organisations exaggerating or overstating their environmental credentials. But in New Zealand, there are signs the country’s climate disclosure regime may inadvertently be driving a very different trend: not saying much at all.
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.
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
Wed 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.
'Terrible result': Emissions barely budged in 2024
5 Jun 2026
By Shannon Morris-Williams | New Zealand's greenhouse gas emissions were virtually unchanged in 2024, falling by 0.03%, despite the economy shrinking by ten times that amount during the same period, according to new data.
Lack of demand leads to Bathurst pausing coal mine expansion
2 Jun 2026
By Liz Kivi | Bathurst Resources has confirmed it is struggling to find a market for coal from its planned extension of the Rotowaro coal mine in North Waikato, and is putting the project on ‘pause’.
Fed Farmers' election wish-list includes stopping whole-farm conversions to carbon forestry
9 Jun 2026
Federated Farmers has launched a five-point plan for the next government, setting out what it says should be a major focus for political parties heading into the November election.
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.
Environmental groups sue Trump administration over approval of new ultra deep-water drilling project
23 Apr 2026
Environmental groups sued the Trump administration on Monday over its approval last month of oil company BP’s ultra deep-water drilling project in the Gulf of Mexico.
Seven ‘new approaches’ to avoid our Paris commitments: Carr
4 Jun 2026
Praying for “new approaches” to materialise to meet our international climate obligations isn’t a strategy, writes Rod Carr.
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.
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.
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.
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.
‘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.
NZ’s largest rooftop solar switched on at Fisher & Paykel Healthcare
Thu 11 Jun 2026
Media release | Sunergise, New Zealand’s leading commercial solar company, has switched on the country’s largest-ever rooftop solar installation at Fisher & Paykel Healthcare’s East Tāmaki campus in Auckland.
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
Wed 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.
Bonn Bulletin: Tackling climate crisis is “hardest” challenge ever, Stiell says
9 Jun 2026
The June Climate Meetings open with a reminder to delegates of the tough but ever-clearer imperative of shifting away from fossil fuels to clean energy.
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.
Wed 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.
