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


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>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news