Hon Dr MEGAN WOODS (Minister of Energy and Resources): Yesterday, the Government announced significant new investment to supercharge the decarbonisation of industrial and manufacturing businesses as part of the landmark emissions reduction plan. Emissions from our energy and industry sectors make up 27 percent of New Zealand's total emissions. So that is why we're investing $650 million over four years to massively increase funding to the Government Investment in Decarbonising Industry (GIDI) fund. This investment will slash emissions and accelerate the move to a renewable electricity system. Over the first three rounds of GIDI, $69 million in funding has been invested, which has unlocked $117 million in private sector investment. This will be replicated in the expanded GIDI programme, with the potential to unleash hundreds of millions of dollars in private sector investment while reducing emissions—1.6 million tonnes in the emissions budget period 2022 to 2025; 9.5 million tonnes, 2025 to 2030; and an additional 7.4 million tonnes from 2030 to 2035.