Our first emissions budget requires us to reduce our greenhouse gas emissions by a further 11.5 million tonnes of carbon dioxide equivalent over the course of the next four years. Our strategy to achieve this and to lay the groundwork for the second and third emissions budgets is based on five principles. It starts with what we need to do to play our part in a worldwide effort to limit global warming to 1.5 degrees Celsius so that current and future generations are protected from the floods, fires, droughts, and storms of a changing climate. That flows into our Tiriti o Waitangi commitments and empowering Māori to respond to the particular risks and opportunities for Māori and the Māori economy alongside an equitable transition that brings everyone with us and leaves no one behind, and working with nature to solve the climate crisis and the biodiversity crisis together. Those considerations then drive the ultimate outcome, which is a productive, sustainable, and inclusive economy that works for everyone.