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

 

It's Official ... NZ Banned From Kyoto Deals

Media release

Carbon News

22 February 2013

It's Official ... NZ Banned From Kyoto Deals

New Zealand will not be allowed access to Kyoto-based carbon credits – including certified emission reduction units (CERs) – from 2015.

In December, the COP 18 meeting voted to exclude New Zealand, Canada and Japan from access to the units after all three countries said they would not sign up to the second commitment period of the Kyoto Protocol.

At the time, Climate Change Issues Minister Tim Groser described commentary by Carbon News and others that the decision would exclude New Zealand from international markets as “ill-informed”, saying that New Zealand emitters would continue to have access to them until the end of 2015.

But now officials in the New Zealand Emissions Unit Register have confirmed that New Zealand will be barred from trading in almost all Kyoto credits generated under the second commitment period, New Zealand's specialist carbon market information service, Carbon News, reports today.

“As of 1 January, 2013, only countries that have taken an emission limitation and reduction commitment under the Kyoto Protocol’s second commitment period (2013-19) may trade in CP2 Kyoto units,” a statement on the registry website says.

The only exception will be CERs generated by Clean Development Mechanism projects that New Zealand companies are directly involved in.

The statement says that the change means that while international credits generated under the first commitment period could continue to be transferred in and out of the New Zealand Registry up until the end of the true-up period (expected in 2015-2016), credits generated under the second commitment period may not come into the registry.

“NZEUR account holders will be unable to purchase and transfer in or out of the NZEUR, any units generated for emission limitations and reductions during CP2, with the exception of primary CERs,” the statement says.
“NZEUR account holders that are CDM project participants will continue to have CP2 CERs forwarded into their NZEUR accounts by the CDM Registry, but they will be unable to export the CERs out of the NZEUR.”

Carbon News says last year, more than 13.5 million CERs were brought into the New Zealand Registry from overseas.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election