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

 


Carbon News: Forester Says NZ Now Has "Clayton's" ETS

Media release

20 July 2012

Carbon News: Forester Says New Zealand Now Has "Clayton's" Emission Trading Scheme

New Zealand’s Emissions Trading Scheme is now a Clayton’s scheme, says the man who spent five years fighting for carbon credits for forest owners.
Roger Dickie, of the forestry investment company Roger Dickie New Zealand, is reported in New Zealand's specialist carbon market information service, Carbon News, today as saying the Government’s decision not to restrict the free flow of international credits into the New Zealand market was "the final blow".

Carbon prices are at an all-time low in the wake of new uncertainty over the legality of the European Union’s plans to restrict carbon supply.
Spot New Zealand emission trading units (NZUs) – the units held by most New Zealand forest owners – closed between $5.15 and $5.20 last night.
The New Zealand Government had proposed imposing restrictions on the number of international units such as CERs and ERUs that New Zealand emitters could use to meet their carbon obligations, but backed off at the last minute because of fears it would push carbon prices up in this country.

Dickie, who led the forest owners’ fight for ownership of the credits generated by the carbon stored in their trees, has told Carbon News that he remains optimistic that in the long-term carbon prices will rise.
But in the meantime, carbon forestry is a non-starter, he says.

“Everybody is sitting on their hands and doing nothing,” he said. “The Government isn’t committed to it. It’s a Clayton’s ETS and there’s not much we can do about it.”

Earlier this month, Carbon News reported Ernslaw One chief executive Thomas Song - a pioneer of international sales - as saying that it was not worth planting trees for carbon if it was worth less than $8 a tonne.

Carbinet papers released last week showed that the majority of people making submissions on amendments to the ETS supported a restriction on foreign credits.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news