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New Zealand bans all new offshore oil exploration

IANS  |  Wellington 

announced on Thursday a ban on all new offshore oil exploration, describing her decision as a transition towards a zero-carbon economy.

"Transitions have to start somewhere and unless we make decisions today that will essentially take effect in 30 or more years time, we run the risk of acting too late and causing abrupt shocks to communities and our country," said during a press conference here.

The ban is applied with immediate effect to only new permits, and will not affect existing permits and onshore drilling, reports news.

The transition "must start somewhere", said who vowed to push for environmental measures when she won the elections last September, adding that the was "taking an important step to address climate change and create a clean, green and sustainable future for New Zealand".

Arden also assured that her policy will not lead to job losses in the country's oil industry, which currently employs at least 11,000 workers and generates about $1.8 billion per year.

"We're striking the right balance for .. We're protecting existing industry and protecting future generations from climate change," she said.

said that the measure "doesn't make any environmental sense", and called it "a wrecking ball" for the country's regional economy.

Greenpeace, a non-governmental environmental organisation, hailed Ardern's move in a statement, saying this was a "historic moment" for the country and "a huge win for our climate and people power".



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 09:46 IST