New Zealand's Environmental U-Turn Amid Economic Woes

New Zealand's government, led by Prime Minister Christopher Luxon, is reversing key environmental policies in a bid to stimulate a lagging economy. Critics argue that these changes, which include lifting bans on oil and gas exploration, could jeopardize the country's green credentials and future prosperity.

New Zealand's government, amid struggling economic growth, is rolling back significant environmental reforms to fulfill electoral promises. This move has sparked a debate about the nation's future.

Prime Minister Christopher Luxon's center-right coalition announced the reversal of bans on oil and gas exploration and a delay in agricultural emissions pricing. These decisions are aimed at bolstering an economy that saw minimal growth of 0.3% in the year to March 2024 and a current account deficit of 6.8%.

Environmental groups have criticized these changes, warning that they could undermine New Zealand's long-term prosperity. However, the government insists that the new policies are necessary to support key sectors like agriculture and mining, which are crucial for boosting exports and maintaining economic stability.

(With inputs from agencies.)