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

Teina Pora Wins Appeal: Gordon Campbell On The Privy Council Decision

The quashing of the convictions of Teina Pora for the rape and murder of Susan Burdett in 1992 has shone a spotlight once again on a major gap in the New Zealand justice system.

To all intents and purposes, access by New Zealanders to the Privy Council has now been closed. Yet the number of times in recent years when the Privy Council has quashed the findings of New Zealand courts has demonstrated that we are regularly
(a) jailing the wrong person or
(b) arriving at guilty verdicts on grounds sufficiently flawed as to raise serious doubts that a miscarriage of justice has occurred. More>>

 

PARLIAMENT TODAY:

Urgent Bill Planned: MP Pay Rises To Match Public Service

Prime Minister John Key today announced an overhaul of the Remuneration Authority Act, tying MP salaries to those of the wider public sector, which will be passed under urgency. More>>

ALSO:

PM's Press Conference: MP Pay Rises, Solid Energy, Iraq

Prime Minister John Key answered questions in his Post-Cabinet press conference about the Iraq deployment, Solid Energy and National’s decision to overhaul the Remuneration Authority Act. More>>

ALSO:

Worksafe: MSD Charged Over Work And Income Ashburton Shooting

WorkSafe NZ has laid one charge against the Ministry of Social Development (MSD) in relation to the shooting at the MSD Ashburton office on 1 September 2014 in which two Work and Income staff were killed and another was injured. More>>

ALSO:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Joint Statement: Australia-New Zealand Leaders’ Meeting

Prime Minister Key warmly welcomed Prime Minister Abbott and Mrs Abbott to New Zealand. The visit has enabled wide-ranging and substantive discussion that has underlined the strength, value, diversity and warmth of our trans-Tasman relationship. More>>

ALSO:

Press Conference: Peters To Stand In Northland By-Election

New Zealand First Leader Winston Peters has announced his intention to stand in the Northland by-election, citing his own links to the electorate and ongoing neglect of the region by central government. More>>

ALSO:

Gordon Campbell: On The Wage Hike For MPs (and Paul Robeson)

Hard to tell what is more infuriating. Is it the 5.3% increase on the already bloated salaries of MPs, or their pantomime of outrage at being gifted with such a wonderful back-dated bonanza? More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news