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

 


Carbon Footprint Labels Could Have Major Impact

Carbon Footprint Labels Could Have Major Impact

An overnight move by the European Parliament to adopt a report which calls for .carbon footprint labels on all goods and services could have major implications for New Zealand's traders.

The climate change interim report, adopted by 566 votes to 61, says consumers must be given better information about the carbon footprint of goods and services, including imported goods and services.

The report's adoption does not make it law, but indicates a stance the EU is likely to pursue into policy, the New Zealand Business Council for Sustainable Development says today.

"It sends a major wake up call to every New Zealand firm involved in our major trade with the EU," according to Business Council Chef Executive Peter Neilson.

New Zealand exports to the 27-nation bloc are worth more than $5.2 billion a year, or 15% of all exports. New Zealand imports from the EU are valued at about $6.9 billion, or 16.9% of all imports.

The report adopted by the EU also called for more stringent emission reduction targets than the EU's current 20% of 1990 levels by 2020, which it says it can now meet. The report warns human and commercial losses from global warming greater than 2 degrees need to be averted by setting even higher emission reduction targets.

Mr Neilson says the EU decision, and research released in trialing carbon labels on snack foods and other products in the UK which shows 70% of consumers are noticing the labels, shows the business here "hasn't a moment to lose" in getting ready to measure and cut the carbon footprint of their products and services.

Carbon neutrality measures have already been worth millions to some exports to EU countries. Consumers here may also react favourably to choose authentically carbon labeled imports from the EU.

"There's no delaying this major political and consumer trend.

"If companies are not already getting ready for carbon labelling in major markets, then their auditors, shareholders and capital providers will be shortly start demanding how this major new risk and opportunity is being managed, if they're not already.

"This is what brings talk of delaying New Zealand's response to climate change, and putting incentives into place to lower emissions, into stark contrast with the emerging and actual market reality.

"New Zealand and its businesses have to lead in managing our climate change response, to protect and enhance our trade and tourism opportunities," Mr Neilson says.

"Waiting for other countries to get further ahead of us is no answer. Innovating to lower carbon emissions and taking on the world in the new greener market is vital. Fortunately that's a course favoured by the vast majority of New Zealanders and business people here."

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news