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New Zealand Units now more visible

1 April 2014

New Zealand Units now more visible

The Environmental Protection Authority has made changes to the New Zealand Emission Unit Register (NZEUR). Account holders will now have access to greater information on the origin of New Zealand Units (NZUs).

Andrea Gray, General Manager Emissions Trading Scheme says the changes are part of an on-going drive to develop the information available to the New Zealand carbon market. “The changes were sought by our customers, with the majority of unit holders supporting greater visibility and traceability of units.”

Account holders will now be able to see the original reason an NZU was transferred from the Crown through a new Unit Purpose column. Within this column there will be seven unit categories that provide information on the activity that generated the units.

The changes have been introduced today (1 April 2014) and will impact on all existing and future NZUs in the NZEUR. The information will only be accessible to the current holder of the unit.

For more information please visit www.eur.govt.nz

There are seven categories defining unit purpose:
1. PFSI: This refers to NZUs transferred to Permanent Forest Sink Initiative participants in recognition of their sequestration activities.
2. Removal–Forestry: This refers to NZUs transferred to Forestry Removal Activities participants in recognition of their sequestration activities.
3. Removal–Other: This refers to NZUs transferred to Other Removal Activities participants in recognition of their sequestration activities.
4. Allocation–Forestry: This refers to NZUs transferred to pre 1990 forest land owners in two tranches from 2008 to 2013.
5. Allocation–EITE: This refers to NZUs transferred to emission intensive trade exposed industries and entities under a Negotiated Greenhouse Agreement (NGA).
6. Allocation – Fishing: This refers to NZUs transferred as a one-off transfer of units to fishing permit holders in 2010.
7. Other/Misc.: This refers to NZUs transferred for any reason other than the above, including fixed price surrenders.

ENDS

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