Parliament

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

 

Restrictions proposed on ETS units


Hon Tim Groser
Minister for Climate Change Issues

13 November 2012


Restrictions proposed on ETS units

Climate Change Minister Tim Groser today announced the Government’s intention to commence consultation on excluding specific types of international Kyoto units from the New Zealand Emissions Trading Scheme (ETS).

“The Government has considered whether Emission Reduction Units (ERUs) from HFC-23 and N2O destruction projects, and Certified Emission Reduction Units (CERs) and ERUs from large-scale hydroelectricity projects should be ineligible in the ETS. There are legitimate questions about these types of international units and the Government wants to maintain the integrity of the ETS,” Mr Groser says.

The proposal is that we exclude the use of these particular units either from 1 January 2013 or 1 June 2013. The European Union is proposing to ban these units from 2013 and Australia is also proposing a prohibition when their emission trading scheme comes into effect in 2015.

As with previous restrictions, units bought on forward contracts will be assessed individually and are likely to be exempt from the ban. This will ensure that New Zealand companies with legitimate investments are not disadvantaged by the ban.

“We will begin consultation on Monday 19 November and allow two weeks for stakeholders to have their say. We want to give scheme participants the opportunity to comment on the proposal but also want to give the market certainty as quickly as possible on the eligibility of these units,” Mr Groser says.
ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The EU’s Beef With Google

There’s every indication that Google would be on a losing wicket if it chooses to fight the European Union competition watchdogs, who have just levied a $3.3 billion fine on the firm – with the prospect of worse to come if Google doesn’t quickly change the anti-competitive practices at the heart of a court battle that’s been seven years in the making.

Essentially, the case involved Google’s alleged abuse of the stranglehold it enjoys on the online advertising associated with its search activities. More>>

 
 

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog