In the first of a new series taking a deeper dive into getting to know the CEOs making up the Climate Leaders Coalition (CLC) and driving climate leadership from the top, we share some reflections from CLC Steering Group Convenor and Genesis CEO Malcolm Johns.
What do you see as the biggest opportunity for Aotearoa New Zealand businesses as the global economy transitions to low emissions?
New Zealand is blessed with one of the highest levels of renewable electricity in the world – between 80% and 95% on any given day. This has produced globally competitive electricity pricing and stable supply for decades, positioning New Zealand at the head of field for international investors looking for green energy to power their businesses, or to invest directly in renewable generation.
What is the most important role business leaders can play in accelerating climate action in Aotearoa New Zealand?
Set the country’s net zero 2050 commitment as your north star, then create a strategy for your business that will both ensure its success and support NZ Inc toward that goal. Work with your people to set aspirational targets, with achievable milestones to reach them.
What is one challenge businesses must work together to solve to reduce emissions more quickly?
Electrifying transport and heat in our homes and businesses represents our biggest opportunity to reach net zero. Doing that will not only be good for the climate, but it’s going to benefit every New Zealander by lowering households’ total cost of energy. New Zealand currently sits at around 30% electrification – the target is 60% – so it’s a big challenge.
Supporting households and businesses to switch away from fossil fuels to electricity will be a combined effort. It will require the biggest asset transition in our history to replace appliances for heating, cooking and lighting, and our vehicles.
What advice would you offer to other CEOs navigating the transition to a low-emissions economy?
To lead by example in taking an intergenerational approach, understanding the balance between their actions today and how those might affect our children and grandchildren. Adopt the purpose of being ‘a good ancestor’.
What gives you optimism about Aotearoa New Zealand’s ability to successfully transition to a low-emissions future?
New Zealand has more opportunities from an energy transition than it has risks, and there is more than enough capital in the world to support the cost – we just need to keep attracting it.
I believe there are enough businesses in New Zealand, and enough people, willing to think and act through an intergenerational lens to enable us to deliver net zero 2050.
