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

 


Taxpayers subsidising millions in pollution under ETS

Govt admits taxpayers subsidising millions of dollars of pollution under ETS

It has been revealed in Parliament today that taxpayers are paying millions of dollars for companies to pollute under the Government’s failed emissions trading scheme (ETS), the Green Party said today.

“The Government has admitted that hundreds of millions of dollars of carbon units have been handed out for free to big polluters, who have profited from them at the taxpayers’ expense,” said Green Party Co-leader Dr Russel Norman.

“Climate Change Minister Tim Groser was explicit that the ETS was designed to allow companies to ‘maximise their fiscal position’.”

Last year, 34 million free units were given away to large polluting companies under the ETS, worth, on average current market value, $165 million. A total of $1.36 billion worth of taxpayer-funded units have been given away between 2010 and June 2014.

The companies then surrender much cheaper international units to meet their emissions obligations under the ETS, either banking the more valuable NZ units or selling them for profit.

“The Government may have closed the legal loophole allowing post-1989 foresters to manipulate the ETS, but this leaves other sectors still gaming the system, and being funded by taxpayers to pollute,” said Dr Norman.

“Carbon traders tell us some of these companies have been making huge profits, with zero positive impact on the climate.

“Meanwhile this is all top secret. Taxpayers are not entitled to know which companies are receiving the hand-outs and to what tune.

“This is another example of National’s cosy back-room dealings with big business at the expense or ordinary New Zealanders.

“The Government needs to come clean and admit taxpayers are basically paying for these companies to profit from trashing the climate.”

According to the Government’s own figures, New Zealand’s net emissions are projected to rise by 50 percent in the next decade.

Experts have said the ETS is holding back New Zealand’s transition to a low carbon economy.

“The ETS has been a monumental failure. It was designed to incentivise emission reductions, investment in clean technology, and the planting of trees,” said Dr Norman.

“It has done none of these things, yet taxpayers continue to pick up the bill for it.”

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gaza.Scoop: UNRWA School, Ambulances Attacked - Gaza MOH

The Ministry of Health Gaza expresses its horror and outrage at the latest Israeli massacre moments ago at an UNRWA school sheltering displaced persons in Beit Hanoun. Ten people have been killed and there is a large number of wounded. More>>

ALSO:

Gordon Campbell:
On Gaza And Burning The Israeli Flag

One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily independent voice to offer on international conflicts.

This image is not entirely self-delusional. When we did occupy a temporary UN Security Council seat in the 1990s, New Zealand was forthright about the need for the international community to actively respond to the Rwanda genocide. On April 14, 1994, New Zealand, Nigeria and the Czech Republic were the only nations to call for a forceful UN intervention to halt the killings. It was a proud moment in the diplomatic record of the Bolger government.

What then, is the current National government doing with respect to the slaughter in Gaza? More>>

 

Parliament Today:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Valedictory Season: Maori Party Founders Say Goodbye

Two major Maori MPs gave there farewell speeches to Parliament Thursday outlining their history, experiences, triumphs and regrets. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

EPA: Board Of Inquiry Rejects Basin Flyover By Majority Of 3 To 1

The independent Board of Inquiry delegated to decide on the Basin Bridge Proposal has, by a majority decision (3 to 1), cancelled the Transport Agency’s Notice of Requirement and declined its resource consent applications for the construction, operation and maintenance of a flyover on State Highway 1 in Wellington City... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news