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

 

NZ paying price for going it alone on ETS

15 September 2011

NZ paying price for going it alone on ETS

“New Zealand’s carbon market is paying the price for relying on the world’s sole national emissions trading scheme (ETS),” said Hon Barry Brill, chairman of the New Zealand Climate Science Coalition. “All of the world’s sub-prime carbon credits are flooding in, and the value of carbon dioxide has already slumped to $13 per tonne.

“New Zealand’s ETS is unique. Not only is it the only scheme outside of Europe, it is the only one enacted anywhere in the past seven years. It was always inevitable that it would attract the dregs of the world’s trades.

“In a New Zealand Herald article today, Brian Fallow calls for import barriers against carbon credits from the developing world. He has it backwards. Far from excluding international permits which reduce the price of our energy, New Zealand foresters should be selling their own credits to the wider world.”

“Fluctuating prices are the hallmark of market behaviour and not an excuse for changing the rules of the game. The fact that carbon markets have always been permeated with fraud and corruption is not an excuse either – that is the very nature of the beast,” said Mr Brill.

“It is a strange quirk of this wholly artificial market that electricity and petrol prices paid by New Zealand households and producers are determined by efficiency efforts in third world countries. If they produce lots of carbon credits in Kazakhstan or China, our energy prices will go down.

“The whole purpose of an ETS tax on electricity is to coerce the use of renewable energy. But New Zealand already has exceptionally high usage of renewable energy, and just last week we were congratulated by Ban Ki-Moon as ‘a world leader’.

“As Fallow points out, it is the lack of electricity emissions which makes our agricultural emissions seem high in comparison. The reality is that our livestock emissions are very low by world standards. And yet we are the only country anywhere to favour a climate tax on food production.

“Fallow bemoans the fact that the EU over-allocated free credits during both the first and second phase of their scheme. There never was a market so dominated by political risk, and this will only worsen when the Kyoto Protocol expires next year and carbon credits become a free-for-all.

“It is clear what the Caygill Review should have recommended: this ETS should be shelved entirely unless and until there is a respectable and liquid global market for carbon credits,” Mr Brill concluded.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Jami-Lee Ross (And The New Hobbit Law)

Clearly, Jami-Lee Ross is not waging a normal form of political warfare, with agreed rules of combat and rational cost/benefit calculations.

This is politics-as-terrorism where everything is being sacrificed by the man in the bomb vest in order to remove Simon Bridges as the leader of the National Party. More>>

Text Messages Released: National On $100,000 Donation(s)
The Botany Electorate of the National Party received 8 donations, and Mr Ross declared 8 donations to us. More>>

 
 

Three Killed: DOC Supporting Family, Colleagues After Helicopter Crash

The Department of Conservation (DOC) is rallying around family and colleagues of the staff who died in a helicopter crash this morning in Wanaka... The helicopter, with two DOC staff on board, was on its way to undertake tahr control in the Haast area when it crashed. More>>

ALSO:

Political Donations: Greens Call For Tighter Anonymity Rules And Public Funding

“It is clear that those vested interests have a tangible influence on the decision making of political parties. This is a threat to democracy and should change.” More>>

ALSO:

Education Amendment Bill Passes: Urgency Sought For Partnership School Treaty Claim

The claim takes issue with the acts and omissions of the Crown in respect of the closure of Partnership Schools | Kura Hourua. More>>

ALSO:

Salvation Army Paper: Call For Public Housing Investment

To meet these future demands the report suggests the government needs to look beyond the private rental market and begin to invest heavily into home-ownership programmes and more public and social housing. More>>

ALSO:

Cull: Himalayan Tahr Control Operation Proceeding

“The target of controlling 10,000 Himalayan tahr over the next eight months remains. The revised plan provides for a staged control operation with increased reporting to the Tahr Liaison Group...” More>>

ALSO:

Health: Petitions To Fund Breast Cancer Drugs

Women marching to Parliament today, to present two petitions calling for Government funding of vital medicines, have 100% support from a coalition representing than 30 breast cancer organisations. More>>

ALSO:

Animal Welfare Advisory Committee: Report On Rodeo Practices Released

The independent committee that advises the Minister responsible for Animal Welfare, has today released a report on animal welfare in rodeos, together with advice to the Minister making recommendations to improve the welfare of the animals in rodeos. More>>

ALSO:

PM's Press Conference: Fuel And Leaks

Other topics included the apparent murder of journalist Jamal Khashoggi at the Saudi Arabian embassy in Turkey, the relation between the Government moves against high fuel prices and the commitment to act on climate change, NZTA's failures in compliance checks ... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels