Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

EITG Endorses Govt Approach To Emissions Trading


EITG Endorses Government Approach to Emissions Trading

Environmental Intermediaries & Trading Group Limited (EITG) has completed a comprehensive review of the New Zealand Governments proposed emissions trading system the NZETS.
 
Particularly positive is the removal of the limitations in the PFSI, the permanent forest sinks initiative relating to the issue of assigned amount units, where under the NZETS these will be issued yearly  from 2008 instead of after 2012.
 
'We believe the scheme to be well thought out and well structured' said joint CEO Richard Hayes of EITG.
 
'We especially endorse the warning to forest owners as to the liabilities at harvest and the danger of participating by themselves with single age class forests. And we whole heartedly support the distinction requiring carbon verifiers not to have a conflict of interest' says Hayes.
 
The temptation is to cut corners and costs ending up with a less than credible emissions credit. The government has avoided this by keeping the main pillars of its policies robust and transparent.
 
A full background on NZETS has been published on EITG web site www.eitg.co.nz/nzets.htm and EITG publication the Carbon Monitor.
 
EITG will shortly be announcing a New Zealand version of its carbon pooling systems and strategies that have been established for international carbon trading for a number of years.
 
It is expect that New Zealand forest owners will benefit from the international pool gaining access to international markets and being part of a much larger pool with extensive geographical spread and reduced buyer risk profile.
 
Environmental Intermediaries & Trading Group Limited representatives will be present at the forest owners briefings run throughout October by the Government.
 
ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>