Regarding the emissions policy in this bill, New Zealand has a hard cap on carbon emissions, so these regulations will not reduce a single tonne of carbon that cannot be emitted somewhere else. Carbon emissions from petrol and diesel are already paid for at the point of production through the emissions trading scheme, where units currently cost in the range of $53 to $75 per tonne of carbon emitted. This already adds between $9 to $11 to every tank of petrol or diesel. So New Zealand is on track to meet the climate commissioner's projection that a price of over $50 per tonne would incentivise New Zealand businesses to reach net zero carbon by 2050. 