Pāmu FY26 Report: Profit More Than Doubles to $113m
Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.
This is the first round of global talks on climate change since an unsuccessful round in Copenhagen in 2009 – but this time the US and China are ready to come to the table.
Professor Dave Frame, director of NZ Climate Change Research Institute at Victoria University, says agriculture could be left until later in climate change action giving the first focus should be on the reduction of carbon dioxide (CO2 into the atmosphere).
However agriculture is clearly a sector where New Zealand could show some leadership, says Frame.
His comments – which he admits a lot of scientists would strongly disagree with - were made at the two-day Australia-New Zealand Climate Change and Business Conference which continues today in Auckland.
Climate change goes back to global negotiations in Paris in December and French Ambassador to New Zealand, Florence Jeanblanc-Risler opened the session stating, "the world is on track for a robust agreement at COP21 in Paris".
Tim Groser, NZ Minister for Climate Change agreed, stating, "the outlook for Paris negotiations is optimistic and momentum is moving in the right direction."
Dr Adrian Macey, senior associate at the Institute for Governance and Policy Studies at Victoria University and former New Zealand Climate Change Ambassador, also commenting on the significant differences between the lead-up to these negotiations and the lead-up to the unsuccessful Copenhagen meeting. "At this time in the lead-up to Copenhagen, there were 300 pages of text with 3,000 square brackets. This time, we have approximately 20 pages of text with maybe 300 square brackets".
A key question for the negotiations is whether or not any emission reduction commitments made will be legally binding. "We need to avoid compliance-centric, heavy top-down approaches to addressing climate change so as to facilitate participation." says Groser.
Michalis Rokas, agreed that obtaining legally binding obligations will be "very difficult to achieve and some countries think they are not necessary."
Macey highlighted the need for a global response to meet the required emission reduction and, given this imperative, it may be necessary to prioritise engagement over legal commitment.
Conference convenor Gary Taylor earlier proposed New Zealand should have a climate change forum similar to the Land and Water Forum.
