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

 


New Zealand faces carbon market shutdown

Media release

7 December 2012

New Zealand faces carbon market shutdown

New Zealand could be shut out of international Kyoto-compliant carbon markets, Carbon News reports this morning.

The country’s specialist carbon market information service says that technically countries that are not signatories to the Kyoto Protocol do not have access to credits United Nations offset credits.

New Zealand, Japan and Canada have announced that they will not sign up to the second commitment period of the protocol, prompting India, China, South Africa and Brazil to call for the rules on access to UN offsets to be imposed.

Carbon News says that means this country would no longer have access to the internationally traded CER units, which have become popular with New Zealand emitters since a dramatic fall in price last year.

It reports a New Zealand carbon broker as saying the exclusion rule is unlikely to be enforced, but even if it is, it won’t have a huge impact on the New Zealand market.

“There won’t be an immediate effect, because in 2013/14 we’re in the wash-up period for KP1,” said OMFinancial’s Nigel Brunel.

“It won’t be until 2015 onwards that we’ll see any impact at all, and a lot can happen between now and then.”

Further news is at www.carbonnews.co.nz
ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On The Ombudsman’s Verdict On Paula Rebstock And Ian Rennie

Unfortunately, the brave and damning report by Ombudsman Ron Paterson on the “flawed” and “unfair” inquiry conducted by Dame Paula Rebstock into events at MFAT pulls back the veil on a far wider issue. More>>

ALSO:

Charities' Report: Stressed Families - Overstretched Services

“Like so many of the whānau and families they serve social service organisations are under huge financial stress. The support demanded from desperate people in communities is far outreaching the resources available.” More>>

ALSO:

Detention: Wellingtonians Protest Treatment Of Refugees

Peace Action Wellington (PAW) and around 50 Wellingtonians blockaded the Australian High Commission, creating a symbolic detention centre to protest the Australian Government's policy of mandatory offshore detention for refugees and asylum seekers. More>>

ALSO:

Diver's Alarums: Breach Means Training Provider Must Repay $1.47 Million

The New Zealand School of Outdoor Studies is to repay $1.47 million (GST-exclusive) to the Tertiary Education Commission (TEC) following an investigation which showed that some student enrolments between 2009 -2014 could not be validated and that courses were under-delivered against their agreement with the TEC. More>>

ALSO:

Education: Government Plans Suggest Bulk Funding Return

Plans by the Government to return to bulk funding are likely to see increased class sizes and schools most in need missing out on much-needed resources, Labour’s Acting Education spokesperson Grant Robertson says. More>>

ALSO:

Interim Report: Auckland Looks Long Term To Pay-Per-Km Road Pricing

Aucklanders can expect to be paying variable rates per kilometre to travel on the city's most congested roads under an emerging transport strategy being formulated by the government and the Auckland Council. More>>

ALSO:

Despite Promises: Government Extends Iraq Deployment

Cabinet has agreed to extend New Zealand’s contribution to the joint New Zealand-Australia mission to train Iraqi Security Forces until November 2018. More>>

ALSO:

On The 'Terrorism' Card:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news