The Methanexit report highlights a critical issue in New Zealand's energy policy: taxpayers are subsidising the operations of Methanex, the country’s largest fossil gas consumer, with free carbon credits worth $60 million last year. Over the past decade, this subsidy has totalled around $300 million, propping up a financially struggling, overseas-owned company that consumes up to 45% of the country’s gas supply. Methanex’s climate footprint is huge, producing over 1.1 million tonnes of CO2 per year - equivalent to the pollution of 480,000 petrol cars. We also now know that Methanex’s New Zealand plant is 34% more emissions-intensive than the company’s global average.

This dynamic perpetuates New Zealand's dependence on fossil fuels, artificially inflates electricity prices, and delays the transition to renewable energy.

Join our call on the government to urgently review Methanex's free carbon credit allocation, ensuring that subsidies no longer prop up polluting industries at the expense of taxpayers, businesses, and households. By addressing these distortions, we can reduce energy costs, accelerate renewable energy adoption, and ensure a more equitable and sustainable energy system for Aotearoa.