Golden Bay Cement operates NZ’s only cement plant. Fletcher Building says without Government funding to bridge the carbon cost gap, it would close. (Image: Rebecca Stevenson/BusinessDesk)Fletcher Building was already receiving millions in taxpayer-backed carbon assistance for its cement operation before Cabinet approved a fresh $60 million lifeline for Golden Bay Cement, critics say. Environmental Protection Authority (EPA) allocation data shows Fletcher’s cementitious products activity received 488,575 free New Zealand Units (NZUs) in 2024, down from 593,741 units in 2023 and 663,120 units in 2022. At an indicative carbon price of about $56 a unit, the 2024 allocation was worth about $27m.