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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

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Gordon Campbell:
On First Time Voting (Centre Right)

For the next two days, I’m turning my column over to two guest columnists who are first time voters. I’ve asked them to explain why they were voting, for whom and what role they thought their parental upbringing had played in shaping their political beliefs ; and at the end, to choose a piece of music.

One guest columnist will be from the centre right, one from the centre left. Today’s column is from the centre right – by James Penn:

As someone who likes to consider himself, in admittedly vainglorious fashion, a considered and rational actor, the act of voting for the first time is a somewhat confusing one. I know that my vote has a close to zero chance of actually influencing the outcome of Parliament. The chance I will cast the marginal vote that adds to National or Act’s number of seats in Parliament is miniscule. The chance, even if I did, that doing so would affect the government makes voting on a strictly practical level even more spurious as a worthwhile exercise.

But somehow I have spent a large amount of time (perhaps detrimentally so, depending on the outcome of my upcoming exams) agonising over how to cast my first vote in a national election. More>>

 

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