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

Gordon Campbell: On The Rivals For The Covid Saliva Testing Dollar

If you want a good insight into what the limits of tiny, barely discernible steps to reduce poverty actually look like, delve into the latest Statistics Department figures on poverty in New Zealand Most of the nine measures utilised reveal little or no progress in combatting poverty over the 21 months to March 2020... More>>


Government: Reserve Bank To Take Account Of Housing In Decision Making

The Reserve Bank is now required to consider the impact on housing when making monetary and financial policy decisions, Grant Robertson announced today. Changes have been made to the Bank’s Monetary Policy Committee’s remit requiring it to take into ... More>>


RNZ: Alert Levels Remain

There are no new community cases of Covid-19 today, the Ministry of Health has confirmed.
Covid-19 Response Minister Chris Hipkins says at least half of the Papatoetoe High School community have been tested and the results that have come through so far have all been negative... More>>


Stats NZ: Latest Release Of Child Poverty Statistics

All measures of child poverty were trending downwards, prior to the COVID-19 lockdown, across the two years since year ended June 2018, Stats NZ said today. The COVID-19 lockdown in late March 2020 affected Stats NZ’s ability to collect data from households ... More>>


NZ Initiative: New Report Highlights How Our Housing Crisis Could Worsen If We Don’t Act Now

If New Zealand politicians thought the housing crisis in 2020 was bad, the worst is yet to come, warns a new report by The New Zealand Initiative. In The Need to Build: The demographic drivers of housing demand , Research Assistant Leonard Hong ... More>>

Parliament: Kiwi MPs Among The “Most Educated In The World”

New analysis of MP qualifications reveals New Zealand’s Parliament is one of the most educated and highest qualified in the world, and significantly more educated than Australia’s. The research, by Mark Blackham of BlacklandPR and Geoffrey Miller ... More>>

The Dig: An Illogical Ideological Struggle

Dig beneath all the trade wars and the arguments to the effect that the USA should not permit China to achieve economic and technological superiority, or even parity, and you find the real reason behind the conflict... More>>

Travel: Government Eases Visa Restrictions For Visitors In New Zealand

Visitor visa holders will be able to stay in New Zealand a little longer as the Government eases restrictions for those still here, the Minister of Immigration has announced. More>>




InfoPages News Channels