Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

New opportunities in climate change Projects

New opportunities in climate change Projects

The Government has confirmed details of its climate change Projects mechanism and will call for proposals in an exploratory tender round in the middle of this year, Pete Hodgson said today.

The Projects mechanism will offer incentives for initiatives that will deliver defined reductions in greenhouse gas emissions in any sector of the economy.

The incentives for the exploratory round will be promissory notes for Kyoto Protocol emission units. These units, often referred to as 'carbon credits' will be internationally tradeable when the Kyoto Protocol comes into force. The promissory notes and units will have a financial value for the firms or industries with successful Projects. Direct financial incentives for Projects are a possibility in future rounds.

“The Projects mechanism will offer significant incentives for business to adopt technologies and processes that will reduce or slow growth in greenhouse gas emissions," Mr Hodgson said. "This mechanism creates business opportunities in the pursuit of better emissions management and will be a key source of early progress towards a low-emissions economy."

To qualify for consideration, Projects must be additional to business-as-usual. The objective is to secure improvements in emissions management that would not be economic unless an incentive was available.

"Projects can be proposed by individual firms, groups of firms, or industry organisations," Mr Hodgson said. "The minimum reduction in emissions is 10,000 tonnes of carbon dioxide equivalent over the Kyoto Protocol's first commitment period, 2008-2012, but there is no upper limit. I am hopeful that some ambitious proposals for Projects that will achieve substantial emissions reductions will be received."

Mr Hodgson said tenders would be assessed and successful proposals selected by the third quarter of this year, with detailed agreements to be settled progressively after that.

"Projects that would improve New Zealand's electricity supply security will be given priority in processing for this round," Mr Hodgson said. "Already this year, the Government has agreed to help the development of two proposed wind farms by giving them credit for the emissions benefit they would provide. There is plenty of scope for further such developments."

Information on the key elements of the Projects mechanism is available on the New Zealand Climate Change Office’s website http:// http://www.climatechange.govt.nz.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election