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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news