The Prime Minister says the Government will take greater action for the climate than just fixing up the Emissions Trading Scheme

Carbon prices plunged from 64-dollars per unit to 55-dollars last month - after the first auction of the year.

Polluting companies are required to buy credits to release emissions through the Government-run market.

The Climate Change Commission has advised the Government too many credits are available to incentivise emissions reductions.

Chris Luxon says a well-functioning ETS is important - but it's not the only priority.

He says it's important to open up genetic editing to allow farmers to use technology available globally to lower agricultural emissions.