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


Emitters turn backs on local credits

January 18 2013

Media release

Emitters turn backs on local credits

Domestic carbon credits are no longer the unit of choice in the New Zealand carbon market.

Figures from the official Emission Unit Registry show that emitters who initially supported NZUs are now using a range of international units to meet their carbon obligations under the Emissions Trading Scheme, Carbon News reports today.

In 2011 – the first year in which emitters were required to surrender carbon credits or pay the Government $25 for every two tonnes of carbon emitted - NZUs were by far the dominant unit, with more than eight million being surrendered. The only international credits surrendered were 133,150 CERs and 262,883 AAUs.

But last year, more than 16 million international credits (mainly CERs, ERUs from AAUs, and RMUs) were surrendered, while the number of NZUs surrendered fell to just over 4 million.

The figures back claims by forest owners and carbon traders that local emitters are using cheap international credits to meet their obligations, at the expense of credits generated by domestic forestry.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Hepatitis A Link: Increased Surveillance Of Imported Frozen Berries

The Ministry for Primary Industries (MPI) Director General has issued a statement warning of a potential risk associated with imported frozen berries following four human cases of Hepatitis A thought to be linked to packaged imported frozen berries. More>>


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news