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More info on carbon units to help decide value

Hon Jo Goodhew

Associate Minister for Primary Industries

Hon Tim Groser

Minister for Climate Change Issues

28 February 2014

Media Statement

More info on carbon units to help decide value

Associate Minister for Primary Industries Jo Goodhew and Minister for Climate Change Issues Tim Groser have today announced changes to the Emissions Trading Scheme (ETS) which will allow for greater transparency.

“From April buyers and sellers of carbon units will be able to see where the unit has come from, so they know how the unit was generated,” says Mrs Goodhew.

“New Zealand units can be either generated by forests registered in the ETS or the Permanent Forest Sink Initiative (non-harvest forests). Or, they can be allocated by the Government to eligible sectors to reduce the impact of the ETS rules.

“By giving greater transparency over how the units were generated this Government is allowing buyers to decide if one is worth more than another. For example, some registered forests have added environmental benefits, or could be regenerating native forest.

“Although there is not expected to be a significant shift in the price of units, this Government believes buyers should have as much information as possible so they can decide whether they want to pay a premium,” says Mr Groser.

How the unit was generated will be listed in the New Zealand Emissions Unit Register. The change follows discussions with account holders. For further information and a summary of feedback received regarding this proposal can be found here www.eur.govt.nz

ENDS

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