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


ETS development continues to be well signalled

The latest design changes to New Zealand’s emissions trading scheme have been progressively well signalled and are broadly positive, says BusinessNZ.

The Government’s latest set of changes include rules for auctions, pricing, monitoring, and penalties for the ETS.

BusinessNZ Chief Executive Kirk Hope says the deliberate process of clear, well-signalled changes is helping to build confidence in the scheme as its settings become progressively more onerous. The decisions around auctioning and the removal of the fixed price option are cases in point. We welcome the establishment of an independent auction body, as proposed in our submission.

"Some changes may need further revision, such as ability for the scheme to have a price floor, and the requirement for individual companies’ emission data to be made public. We fail to see the public benefit of these proposals especially at a time of increasing carbon prices.

"There remains a need for ensuring that prices in the New Zealand ETS are comparable to those in other countries, and for ensuring New Zealand companies’ competitiveness is not undermined by inconsistent progress towards pricing carbon across our trade competitors.

"It would also be preferable to have the coming ETS legislation considered after the Zero Carbon Bill, so that ETS legislation can be aligned with the targets finally legislated.

"BusinessNZ looks forward to working with the Government as it further develops the ETS and the market governance arrangements."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Robertson Speech: Budget Sees Wider Debt Target

"New Zealand is well positioned to face this instability and uncertainty, but we are not immune from its impacts. Growth rates are set to be lower than we have seen in recent years..." More>>


Commerce Commission: Spark Warned Of Broadband Price Rise

The warning follows an investigation into representations Spark made on its website and in emails in August and September 2018, notifying in-contract customers receiving its copper-based broadband service of its decision to increase the price by $5 a month. More>>

Law Commission: Resist Rushing To New “Deepfake” Law

Artificial intelligence techniques can create massive volumes of fake audio, images and video that is incredibly convincing and near-impossible to detect... While it is tempting to respond with new law, the study finds that the long list of current legislation covering the issues may be sufficient. More>>


'Contrary To US Interests': US Lockout Sees Android Ditch Huawei

Effective May 16, 2019, the Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) by adding Huawei Technologies Co., Ltd. (Huawei) to the Entity List. More>>