The carrier said it was forced to rethink a long-standing aim to cut emissions per flight by about a third.
"The airline may need to retain its existing fleet for longer than planned due to global manufacturing and supply chain issues that could potentially slow the introduction of newer, more fuel-efficient aircraft into the fleet," Air New Zealand chief executive Greg Foran said in a statement.
Air New Zealand will also withdraw from the Science Based Targets Initiative, which helps companies reduce emissions in line with the Paris Agreement.
It marks a shift as airlines struggle globally with aircraft shortages and supplies of sustainable fuel.
Conflicts in Ukraine and Gaza have also forced carriers to take longer routes as airlines battle to meet the target set by the industry's trade body of net-zero carbon emissions by 2050.
Air New Zealand said it remained committed to reaching net-zero emissions by 2050 and was considering a new carbon intensity reduction target.
Air New Zealand was previously run by the country's centre-right prime minister Christopher Luxon, whose government has cut funding for climate projects.
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