Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Kyoto deficit now $1.7 billion: AG called in

Kyoto deficit now $1.7 billion: AG called in

National is accusing the Government of understating New Zealand’s Kyoto deficit by $1 billion and is seeking an independent review by the Auditor-General.

“This is at least $1 billion more than the $656 million admitted to in the Government’s 2006 Financial Statements and the country now faces a $1.7 billion deficit”, says National’s Climate Change spokesman, Nick Smith.

“The official deficit of $656 million is based on projected deforestation of just 26,000 hectares, yet official MAF papers now estimate that 47,000 hectares will be deforested during the first commitment period of the Kyoto Protocol. This increases New Zealand’s carbon deficit from 41 million tonnes to 59 million tonnes.

“Nor is it credible for the Government to estimate the current market price for carbon at just NZ$16 (8.6 Euro) per tonne when reliable estimates put the price at NZ$30 (16 Euro).

“Using MAF’s own estimate of the rate of deforestation and the price of carbon in the European market, New Zealand’s Kyoto deficit is not $656 million, it is $1.7 billion.

“Labour is so embarrassed by the mess in climate change policy, and for promising that New Zealand stood to make hundreds of millions out of the Kyoto Protocol, that they are deliberately understating the scale of our deficit.

“In 2004, Labour scoffed at projections of a Kyoto deficit by Dr Alex Sundakov of Castalia Consultants. They should be cautious of dismissing this further billion-dollar blow-out when these figures from National are backed up by credible commentators like Murray Ward of GtripleC, the former head of the Government’s own Climate Change office.

“These awful figures show just how badly Labour’s climate change policies are failing. They particularly highlight how the decision to deny foresters any credits for trees planted is backfiring by increasing levels of deforestation.

“National has written to the Auditor-General to get an independent assessment of these huge liabilities. To make well-informed decisions on the way forward on climate change we need reliable figures on the scale of New Zealand’s problem.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Covid-19, 21/9: 1,108 Overall Cases, 4,800,000+ Vaccine Doses

23 new cases have been discovered in Auckland, which has moved to Level 3 as of Tuesday night. 818 of the Auckland cases have recovered alongside all of the Wellington cases... More>>


Gordon Campbell: On Canada’s Election, And The AUKUS Defence Pact

Yesterday, Canada held an election in which everyone lost, including the voters. After holding its most expensive ( $C600 million) election campaign ever, the result was Groundhog Day, with the five main parties getting almost exactly the same number of seats as they did last time around, in 2019. Same overall result too: Liberals leader and PM Justin Trudeau will once again be leading a minority government... More>>


Government: Keeping our Police safe to keep our communities safe

The Government is committed to keeping our frontline police officers safe, so they in turn can keep New Zealanders safe – with one of the largest investments in frontline safety announced by Police Minister Poto Williams at the Police College today... More>>


Government: Counter-Terrorism Bill Returns To Parliament

The Counter-Terrorism Legislation Bill has returned to Parliament for its second reading in an important step towards giving enforcement agencies greater power to protect New Zealanders from terrorist activity... More>>

Trans-Tasman: Quarantine-free travel with Australia to remain suspended for a further 8 weeks
The suspension of quarantine-free travel (QFT) with Australia has been extended, given the current Delta outbreaks, COVID-19 Response Minister Chris Hipkins said today. “When QFT was established with Australia, both our countries had very few recent cases of COVID-19 community transmission... More>>

Power: Bill Changes Bring Fairness To Charges

A key recommendation of an independent panel to make electricity charges fairer across all households will be put in place, the Energy and Resources Minister Megan Woods has announced... More>>

Government: Parks expiry of licenses, WoFs and regos
As a result of the Delta outbreak, driver licences, Warrants of Fitness (WoFs), Certificates of Fitness (CoFs), vehicle licences (‘regos’) and licence endorsements that expired on or after 21 July 2021 will be valid until 30 November 2021, Transport Minister Michael Wood has announced today... More>>

Child Poverty Action Group: Highest jump in weekly benefit numbers since first lockdown

The current lockdown has triggered the largest weekly increase in benefit recipient numbers since the first lockdown last year, and Child Poverty Action Group is concerned the Government isn't doing enough to assist affected families... More>>




InfoPages News Channels