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

 


Units lacking environmental integrity to be banned



Hon Tim Groser
Minister for Climate Change Issues
17 December 2012 Media Statement
Units lacking environmental integrity to be banned

Climate Change Minister Tim Groser today announced that the Government is banning some international emissions units from New Zealand’s Emissions Trading Scheme (ETS) due to concerns over their environmental integrity.

“We are banning international units generated from industrial gas destruction projects and large hydropower projects that do not meet World Commission on Dams guidelines. This change is about ensuring the environmental integrity of the New Zealand Emissions Trading Scheme is maintained,” Mr Groser says.

“Australia and the European Union have already announced their intention to restrict these units from their emissions trading schemes. Banning these units now strengthens the integrity of the ETS and therefore our ability to advance discussions on linking with other major domestic emissions trading schemes.”

The ban of these units is not expected to significantly reduce the supply of units in the period up to 2015 and is therefore expected to have no impact on the carbon price.

Units already in the New Zealand Emissions Unit Register will be able to be used to meet surrender obligations. Emitters who have already committed to purchase these types of units in forward contracts will be able to use them for surrender obligations until June 2014, providing contracts were entered into prior to today.

“The Government is exploring regional and bilateral linkages amongst carbon markets for beyond 2015,” Mr Groser says.

A copy of Q&A’s about the ban of some international units for environmental integrity reasons can be found at: http://www.climatechange.govt.nz/emissions-trading-scheme/building/regulatory-updates/


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Transport Report: LGNZ Calls For Proactive Approach To Mobilise Regions

LGNZ has today released Mobilising the Regions, its major transport study, which highlights the economic and social impact of strategic transport decisions nationally and in the regions, and the direct link between regional development, national prosperity, social well-being and cohesiveness. More>>

ALSO:

Transport: New Rules Bring Double-Deckers To Our Cities

New rules that allow buses, including double-deckers, to carry more people will ramp up the public transport offering in our cities, Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say. More>>

ALSO:

Cycling:


Images & Video: Four Alternative Flags For Referendum

Flag Consideration Panel chair, Professor John Burrows, said the Panel’s decision had been guided first and foremost by the results of its engagement programme across a range of communities where thousands of Kiwis shared what was special about New Zealand, as well as the Panel’s own selection criteria. More>>

ALSO:

Labour: New Figures Show Speculators Rampant

New figures released by the Reserve Bank show there’s been an explosion in mortgage lending with most of the growth going to property investors, Labour’s Housing spokesperson Phil Twyford says. More>>

ALSO:

False Official Information Response: English's Apology Accepted

Finance Minister Bill English is being thanked for his apology to New Zealand First Leader and Member of Parliament for Northland Rt Hon Winston Peters... Mr English says his staff and the Treasury have searched again, and they found the document that they denied having. More>>

ALSO:

Midwives On Pay Equity: Historic Bill Of Rights Case For High Court

“We have been left with no choice.” That from Karen Guilliland, the Chief Executive of the New Zealand College of Midwives, as the organisation prepares to file a pay parity discrimination case on the basis of gender under the NZ Bill of Rights Act in the High Court. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news