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

 


Steel mill, smelter top free carbon credits list

1 March 2012
Media Release
Horizon Publishing - Carbon News

Steel mill, smelter top free carbon credits list

The Glenbrook steel mill and the Bluff aluminium smelter were the big winners in last year’s hand-out of free carbon credits to industrial emitters.

Steel mill operator New Zealand Steel Development got taxpayer-funded credits to cover nearly one million tonnes of emissions, while New Zealand Aluminium Smelters got credits for more than 400,000 tonnes of emissions, Carbon News reports today.

The Emissions Trading Scheme provides for a free allocation of credits for trade-exposed emitters, based on returns filed with the government. Both steel and aluminium processing qualify for allocations of 90 per cent of total emissions.


Ministry for the Environment figures show that for the year ending December 31, 2011, New Zealand Steel Development Ltd was allocated 989,304 credits.

New Zealand Aluminium Smelters got 437,681 credits, according to Carbon News, New Zealand's specialist information service on the carbon markets..

The next largest allocations went to Methanex (294,153), Fletcher Concrete and Infrastructure (251,367) Norske Skog Tasman (237,752), and Carter Holt Pulp and Paper (259,551)

At the time of the allocations, spot NZUs (the units which are issued to emitters) were trading at around $14 a tonne.

The units can be traded on the New Zealand market, but not overseas.

The figures suggest that the Glenbrook mill emitted a total of 1,099,296 million tonnes of CO2-equivilent, with an obligation of 109,992 tonnes.

Other significant allocations were:
• Balance Agri-Nutrients 119,728
• Holcim (NZ) 171,167
• Pan Pac Forest Products 117,962
• McDonald’s Lime 98,466
• Fletcher Steel 36,095
• Whakatane Mill 76,828
• ACI Operations New Zealand 30,682
• Fonterra 21,290

Applications for credits for last year’s emissions close on April 30.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

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