Breadcrumbs
Home ›
Building and energy
›
Energy and natural resources
›
International engagement on energy
...
›
APEC Fossil Fuel Subsidy Reform Peer Review
-
Energy and natural resources
-
Energy and resources consultations and reviews
- A draft critical minerals list for New Zealand – Summary
- A draft Minerals Strategy for New Zealand to 2040
- 2024 Proposed amendments to the Crown Minerals Act 1991
- Consultation document: Advancing New Zealand’s energy transition
- 2020-23 Review of the Crown Minerals Act 1991
- Investigation into electricity supply interruptions of 9 August 2021
- Electricity Price Review
- 2018-2019 Electricity Price Review
- 2017 energy consultations and reviews
- 2016 energy consultations and reviews
- Older energy consultations and reviews
- Energy statistics and modelling
- Energy strategies for New Zealand
- Low emissions economy
- Energy hardship
- Energy generation and markets
- International engagement on energy
- A Minerals and Petroleum Resource Strategy
- Subscribe to Energy and Resource Markets news
- NZ Petroleum and Minerals Website
- Tui Project: decommissioning the Tui oil field
- Pānui – Energy and Resource Markets
-
Energy and resources consultations and reviews
APEC Fossil Fuel Subsidy Reform Peer Review
New Zealand voluntarily took part in an APEC Fossil Fuel Subsidy Reform (FFSR) peer review in 2015 to identify inefficient fossil fuel subsidies leading to wasteful consumption.
On this page
New Zealand is the second country to undertake the review, after Peru in June 2014.
What the review found
The APEC panel reviewed 8 measures that are considered to support the fossil fuel sector:
- motor spirit excise duty refund
- funding of international treaty obligation to hold oil stocks
- non-resident drilling rig and seismic ship tax exemption
- indemnity for mining land remediation
- research and development funding for the oil industry
- tax deductions for petroleum-mining expenditures
- financial restructure of Solid Energy
- petroleum tax and royalty regime.
In its findings, the panel didn't identify any inefficient fossil fuel subsidies that lead to wasteful consumption in New Zealand.
New Zealand's commitment
New Zealand fully supports global efforts to reform inefficient fossil fuel subsidies.
Since 2010, it has helped promote APEC Fossil Fuel Subsidy Reform internationally as a co-coordinator of the Friends of FFSR, an informal group of non-G20 countries that support G20 and APEC leaders’ commitments to phase-out inefficient fossil fuel subsidies.