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

 

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news