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

 

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Protests Close Roads: TPP Signed In Auckland

“TPP was signed by Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Viet Nam.” More>>

ALSO:

Emails Behind 'Diplomatic Immunity' Case: Whitehead Report Released

“As previously indicated the conclusions reached by Mr Whitehead’s investigation are not unexpected but they are very disappointing,” Mr Mccully says. “At the heart of the matter is a single email, along with procedural shortcomings, which gave Malaysian officials the impression it would be acceptable for Mr Rizalman to return to Malaysia." More>>

ALSO:

Gordon Campbell: On The Treaty/TPP Overlap, And Iowa

The fears about the ISDS provisions in the Trans Pacific Partnership deal are well-founded. The reality is that there is a sharp uptick in the occurrence of ISDS litigation in developed countries, and even the right wing likes of The Economist have been souring on the process for some time. More>>

ALSO:

Christchurch Red Zone Offers: Fresh High Court Proceedings

Grant Cameron, Solicitor for the Quake Outcasts said “the action seeks judicial review of the Crown’s recent decision to make a fresh offer to purchase properties from uninsured property owners in red zones. More>>

ALSO:

PM's Post-Cabinet Press Conference: Waitangi And TPP

Prime Minister John Key on Tuesday said his office has received an invitation for him to visit the Lower Marae on Waitangi Day, but was waiting for a meeting of the Te Tii Marae Trustees. More>>

ALSO:

Flagged: 'Wrong Colour' Bridge Flag To Change

NZ First: Only 13 days after National trumpeted its legally questionable flag on Auckland Harbour Bridge, it is now coming down because it is the wrong colour... “Mr Key’s latest flag fiasco is another waste of taxpayers' money. Given it is coming down, down is exactly the location where it should remain. More>>

ALSO:

School's In: Children Head Back To School

“Across the whole of this year we expect 61,820 five year olds will begin their primary schooling for the first time,” says the Ministry of Education head of sector enablement and support Katrina Casey. More>>

ALSO:

Dog & Lemon: FBI Disagrees With NZ Government Over Police Chases

Multiple studies, quoted by the FBI, show that once suspects realise they're no longer being chased; they tend to slow down to normal driving speeds and therefore become far less of a risk. The FBI report also categorically rejected the argument that abandoning police chases meant ‘giving in’ to offenders. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news