Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Climate Change Emissions Trading Bill

4 December 2007
(1 page)

Climate Change Emissions Trading Bill

The Greenhouse Policy Coalition says many of the risks to the New Zealand economy identified in the Castalia Report (Nov 2007) have not been resolved in the Climate Change (Emissions Trading and Renewable Preference) Bill (the Bill).
Executive Director of the Greenhouse Policy Coalition, Catherine Beard, says if the Bill is passed in its current form, New Zealand will be the first country in the world to expose its total economy to an emergent and politically driven market for emissions trading.

“While there are some advantages to being the first to do things there are also considerable risks, and we are not convinced the government has undertaken sufficient economic analysis to properly understand the risks of exposing the economy to a volatile price of carbon”, she said.

Catherine Beard said the main issue with the Bill was that it was setting New Zealand up for an emissions trading scheme that was likely to be a lot tougher than other countries would be prepared to adopt in the future. This would mean that the cost of living and doing business in New Zealand would be higher than in other countries that we compete with for trade and skilled labour, leading to plant closures and job losses.

Issues that were identified in the Castalia report that need to be resolved to maintain New Zealand’s slim competitive advantages internationally include;

- Adopting a more realistic timeframe for transitioning to a lower carbon economy, in keeping with our trading competitors

- Setting emission caps that reflect our emissions profile and limited abatement opportunities

- Introducing a price safety valve to avoid volatility and exposure to high carbon prices that would cause economic damage

- Using intensity based rather than absolute emissions targets for firms – so that NZ firms are judged on world’s best practice benchmarks and can continue to grow as long as they are at world’s best practice.

- Retain a focus on protecting competitiveness and limiting carbon leakage

- Establish a new entrant reserve of free allocation to industry; otherwise New Zealand will fail to get any new investment in our most important income earning sectors.


Full copy of the Castalia report is at www.greenhousepolicy.org

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>


Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>


More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>


Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>


Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>


General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news