The updated NDC includes a new GHG emissions target of 50% reduction by 2030 below 2005 levels (in previous NDC: 30%). This corresponds to 41 per cent when managed using a multi-year emissions budget starting from New Zealand’s 2020 emissions target. Based on New Zealand’s most recent greenhouse gas inventory, this budget provisionally equates to 571 Mt CO2e over 2021 – 2030 (in previous NDC: 623 MtCO2e).