ETS decision puts onus back on businesses to prepa
27 August 2008
ETS decision puts onus back on businesses to prepare
The announcement that the Green Party will support the Government’s Climate Change (Emissions Trading and Renewable Preference) Bill through its second reading in Parliament puts the onus on businesses to prepare themselves.
That’s according to Bryan Gundersen, partner at Kensington Swan and leader of the firm’s energy and resources workgroup.
The decision follows significant pressure from many different groups, including Greenpeace, the New Zealand Business Council for Sustainable Development and other forestry and business groups calling for the Green Party to support the Bill.
It means the Government is likely to be able to push the legislation through Parliament before the election, having already signalled it wishes to be seen as a first mover on climate change mitigation.
Bryan Gundersen says the implications on business if the Emissions Trading Scheme (ETS) is passed in the next three months will be immense.
“The ETS will impose specific obligations on firms who are expressly included in the scheme as well as increasing the overall operating costs for many businesses and households.
“However it is also likely to offer new business opportunities especially in investment and technology.”
“There is strong evidence that many businesses are not doing enough to come to grips with how the ETS will work and its implications,” says Mr Gundersen.