Prime Minister backs NBR Rich List's celebration of success
The country should be celebrating the success of NBR Rich Listers, Prime Minister Christopher Luxon says.
The 2025 NBR Rich List was released today, revealing that the country's leading wealth creators are now collectively worth more than $100 billion.
The latest NBR Rich List, published today,
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Scientists Hit Back Over Prime Minister's ‘Worthies' Insult
Scientists have raised concerns about plans to lower the country's methane emissions target., Climate Change Correspondent A British scientist says it's concerning Prime Minister Christopher Luxon has dismissed him and other climate scientists as 'worthies' for raising concerns about plans to lower the country's methane emissions target. Global professor of environmental change at Oxford University Paul Behrens said the government appeared to be trying to deflect attention from questions about the country's agricultural greenhouse gases. 'I think the characterisation of climate scientists as 'worthies' reflects a really concerning dismissal of evidence-based policy making,' he said. 'While the Prime Minister's remarks may aim to deflect criticism of New Zealand's agricultural emissions profile they overlook the clear global consensus that methane reductions are critical to limiting near term warming.' Luxon denied he was dismissing science or deflecting attention from this country's farming emissions. 'What a load of rubbish, my point was very clear, those scientists can write to leaders of 194 countries before they send it to me,' he said. Though a decision is yet to be revealed, farming groups appear have swayed the government to reduce the current target, which is shrinking emissions somewhere between 24 and 47 per cent by 2050. Several climate experts say the country will set a dangerous precedent for Ireland and other big methane emitters if it aims too low. When 26 international climate change scientists wrote to Luxon accusing him of 'ignoring scientific evidence' showing global heating caused by methane has to reduce, the prime minister said it was lovely if 'worthies' wanted to write him letters but New Zealand was already managing methane emissions better than 'every other country on the planet'. The scientists were worried that the government might be about to adopt a target that lets heating caused by methane emissions stay the same, rather than turning down the thermostat on the country's cows and sheep. That is because the government asked a scientific panel to tell it how much methane emissions would need to drop to just level off global heating from methane, not reduce it. The answer was 14 to 24 per cent by 2050, about half the current target. The debate is whether that is enough. Federated Farmers and Beef + Lamb says yes, because methane is much shorter lived than the other main heating gases, carbon dioxide and nitrous oxide. One of the members of the government's panel, climate scientist Dave Frame, said New Zealand should lower its target unless other countries commit to bigger cuts to methane from farming than they have currently. He said the planet was not on track to limit heating inside 1.5C hotter than pre-industrial times, despite countries' promises. 'If the world really did cut emissions in line with what those kind of guys are talking about, then I think we should absolutely be part of it. 'In the absence of that action, I think a 'no additional warming target' is a reasonable fall back position.' Dr Frame said unlike more profitable dairy farming, sheep and beef farms could not absorb the cost of methane pricing. Another member of the government's panel atmospheric scientist Laura Revell said it was a tricky call for the government. 'Everyone is in agreement – those on the panel, those who wrote the letter – that methane is a greenhouse gas which global action is needed to address,' she said. 'We know that the consequences of climate change are severe, we are seeing it already and every bit of warming we can avoid helps. 'On the other hand, farming is a big part of the New Zealand economy and these emissions are associated with feeding people.' The Climate Change Commission said the country should aim for a cut of at least 35 percent, because the costs and impacts of global heating are turning out worse than expected. It said there is no reasonable excuse to do less on methane, under New Zealand's climate commitments.
Scoop
6 hours ago
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Scientists Hit Back Over Prime Minister's 'Worthies' Insult
A British scientist says it's concerning Prime Minister Christopher Luxon has dismissed him and other climate scientists as "worthies" for raising concerns about plans to lower the country's methane emissions target. Global professor of environmental change at Oxford University Paul Behrens said the government appeared to be trying to deflect attention from questions about the country's agricultural greenhouse gases. "I think the characterisation of climate scientists as 'worthies' reflects a really concerning dismissal of evidence-based policy making," he said. "While the Prime Minister's remarks may aim to deflect criticism of New Zealand's agricultural emissions profile they overlook the clear global consensus that methane reductions are critical to limiting near term warming." Luxon denied he was dismissing science or deflecting attention from this country's farming emissions. "What a load of rubbish, my point was very clear, those scientists can write to leaders of 194 countries before they send it to me," he said. Though a decision is yet to be revealed, farming groups appear have swayed the government to reduce the current target, which is shrinking emissions somewhere between 24 and 47 per cent by 2050. Several climate experts say the country will set a dangerous precedent for Ireland and other big methane emitters if it aims too low. When 26 international climate change scientists wrote to Luxon accusing him of "ignoring scientific evidence" showing global heating caused by methane has to reduce, the prime minister said it was lovely if "worthies" wanted to write him letters but New Zealand was already managing methane emissions better than "every other country on the planet". The scientists were worried that the government might be about to adopt a target that lets heating caused by methane emissions stay the same, rather than turning down the thermostat on the country's cows and sheep. That is because the government asked a scientific panel to tell it how much methane emissions would need to drop to just level off global heating from methane, not reduce it. The answer was 14 to 24 per cent by 2050, about half the current target. The debate is whether that is enough. Federated Farmers and Beef + Lamb says yes, because methane is much shorter lived than the other main heating gases, carbon dioxide and nitrous oxide. One of the members of the government's panel, climate scientist Dave Frame, said New Zealand should lower its target unless other countries commit to bigger cuts to methane from farming than they have currently. He said the planet was not on track to limit heating inside 1.5C hotter than pre-industrial times, despite countries' promises. "If the world really did cut emissions in line with what those kind of guys are talking about, then I think we should absolutely be part of it. "In the absence of that action, I think a 'no additional warming target' is a reasonable fall back position." Dr Frame said unlike more profitable dairy farming, sheep and beef farms could not absorb the cost of methane pricing. Another member of the government's panel atmospheric scientist Laura Revell said it was a tricky call for the government. "Everyone is in agreement - those on the panel, those who wrote the letter - that methane is a greenhouse gas which global action is needed to address," she said. "We know that the consequences of climate change are severe, we are seeing it already and every bit of warming we can avoid helps. "On the other hand, farming is a big part of the New Zealand economy and these emissions are associated with feeding people." The Climate Change Commission said the country should aim for a cut of at least 35 percent, because the costs and impacts of global heating are turning out worse than expected. It said there is no reasonable excuse to do less on methane, under New Zealand's climate commitments.
Scoop
8 hours ago
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The 2025 NBR Rich List: Listers Crack $100 Billion, NBR Launches First Women's List
The overall theme of the 2025 NBR Rich List, meanwhile, is Elevating NZ Inc. We asked each of the Rich Listers what one thing we could do to make New Zealand a better place for doing business. 09 June New Zealand's leading wealth creators are now collectively worth more than $100 billion, the 2025 NBR Rich List reveals. The latest NBR Rich List, published today, profiles 119 Kiwi individuals and families who are building enterprises, growing the country's fortunes, creating jobs, and giving back. That includes a dozen Newcomers to the 2025 Rich List, collectively worth $4.3b. The addition of those Newcomers, as well as growth among some of the country's wealthiest, has pushed the total valuation of this year's Rich List to $102.1b, up from $95.55b last year. The Newcomers include names like Jamie Beaton – who becomes a Rich Lister after the company he co-founded, Crimson Education, was valued at more than $1b in a capital raise last November – alongside several families who have been operating and building enormously successful businesses for decades. Two women also feature in our Newcomers this year, becoming the only two women to feature on the Rich List in their own right since 2019. They are Anna Mowbray, who has moved on from Zuru to build a wide-ranging portfolio of investments, and Lucy Liu, a New Zealand citizen whose company was valued at more than $10b in a capital raise just last month. Their success has been the catalyst for a new feature we've introduced as part of this year's coverage: the Women's List. Zuru founders Nick and Mat Mowbray, meanwhile, retain the top spot with a $20b valuation. Overall, New Zealand now also has 18 billionaires, up from 16 last year. 'The country's Rich Listers together employ thousands of people and generate billions of dollars of economic activity,' NBR Rich List editor Hamish McNicol says. 'The Rich List celebrates those individuals and families, telling in-depth stories of how they have built their enterprises, how they are tackling global economic volatility, and what they are investing back into their communities.' The Women's List The 2025 Rich List also sees the launch of the inaugural Women's List, which is a series of interviews and profiles with 14 of the country's leading, and most successful, businesswomen. We are not publishing assessments of their net worth, although generally estimate them to each be worth between at least $20m and $100m (Mowbray and Liu excluding). Each have built businesses which collectively have employed thousands and contributed greatly to the domestic economy: they are true wealth creators worthy of recognition and celebration alongside the Rich List. They also have different perspectives and each tell a story we believe invaluable to those looking for the keys to business success. That list includes the likes of Naomi Ballantyne, who built life insurer Partners Life into what she says is the country's first female-business to sell for $1b. There's also Carmen Vicelich, the founder of Valocity, a fintech that streamlines property valuation and real estate processes and is now used in more than 3500 cities around the world. 'We've got lots of families and couples on the Rich List but this year we have two female Newcomers in Anna Mowbray and Lucy Liu,' McNicol says. 'They, along with some encouragement from local women in business, prompted us to consider what we could do as part of our coverage to highlight the success of our leading businesswomen.' 'They've each built large and impressive businesses and share fascinating insights into the unique challenges they have faced in doing so.' Elevating NZ Inc The overall theme of the 2025 NBR Rich List, meanwhile, is Elevating NZ Inc. We asked each of the Rich Listers what one thing we could do to make New Zealand a better place for doing business. Several key themes emerged from the many responses we got. Overall, there is optimism about New Zealand's place in the world, particularly in the context of an increasingly volatile global environment. 'Opening the country up to more foreign investment and drastically improving the education system were the most common areas cited for change,' McNicol says. 'But there were some other really interesting ideas in there as well, particularly around things like tax and regulation.' 'They have no shortage of ideas.'
