Wellington, Aug 3 (IANS): New Zealand on Saturday released its Climate Action Plan in response to a commission's inquiry into the low emissions economy.

The New Zealand government is committed to "a just and rapid transition to a low emissions economy, because it's vital that we play our part looking after our planet", Xinhua news agency quoted Climate Change Minister James Shaw as saying in a statement.

"We're already taking action on many of the Productivity Commission's recommendations.

"The Commission was clear that we must work together across every sector of our economy, from energy to transport to agriculture. We are all in this togethe.

"Whether it's supporting coastal communities to plan for sea level rise, working to make electric cars cheaper for families, or partnering with businesses and farmers to find the best ways to reduce their emissions and create sustainable jobs, our government is working alongside New Zealanders to tackle the climate crisis," he added.

Work is well underway to fix the Emissions Trading Scheme and establish an independent Climate Change Commission, reduce the price of electric cars, and require big businesses to report their climate-related financial risks, according to the Minister.