Market Closed

17 Jan 2026 20:45:25

Govt backtracks on fossil fuel phase-out

Posted: 26 Nov 2025

Climate Change Minister Simon Watts says the Government is no longer committed to advocating for a global phase-out of fossil fuels, marking a significant change in position.

At the COP30 climate summit in Brazil, more than 80 nations pledged to support a roadmap to move away from fossil fuels, launched by Brazilian President Luiz Inácio Lula da Silva. Among them were Australia, the UK, all but two European Union states and a swathe of island nations – but not New Zealand.

Read more on Newsroom.