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


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news