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Limiting units not enough, ETS still far too weak – PCE

Media Release

30th November, 2012

Limiting units not enough, ETS still far too weak – Environment Commissioner

Parliamentary Commissioner for the Environment Dr Jan Wright made her submission to Government on proposed changes to Emissions Trading Scheme regulations governing foreign carbon credits.

In the submission Dr Wright has made it clear that the government’s move to limit some forms of foreign carbon credits does little to strengthen the ETS and has restated her concerns that the current scheme is too weak.

“The proposed changes to the ETS regulations would restrict the ability of domestic polluters to buy some of the more suspect international carbon credits but this is of limited value while many other dubious credits can still be imported.

“Unlike the Australian ETS, which comes into force in 2018, the New Zealand ETS has no requirement for any domestic carbon credits.

“The Australian ETS will have a 50% domestic carbon credit requirement and I have recommended that the New Zealand ETS should have the same.”

Dr Wright’s submission is available here.

ENDS

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