Govt to host workshop on international carbon markets

A government-hosted seminar will allow independent experts to explain the mechanics of international carbon markets ahead of the introduction of a New Zealand Emissions Trading Scheme.

The seminar, being held in Auckland on 19 November, will examine issues such as the prices of carbon units, the types of units being traded in international markets, risks and risk management, and the types of broking exchanges which exist for trading carbon units. The presenters include lawyers, bankers, and brokers, along with officials.

Climate Change Minister David Parker says the seminar will provide a useful opportunity for New Zealand companies to learn more about international carbon markets.

“While the Emissions Trading Scheme is being phased in over a five year period, it is important that New Zealand companies begin to monitor their emissions and understand the requirements for purchasing and banking Kyoto-compliant carbon units.

“Markets operate best when there is good information, transparency, and sound understanding of the mechanics of the market by those involved in it. While carbon trading will essentially be the domain of private enterprise, the government believes it is important to facilitate discussion and start to build understanding in this area.”

The government announced the introduction of the New Zealand Emissions Trading Scheme in September. The first sector, forestry, will join the scheme on 1 January, 2008. Other sectors will join in the following years, with all sectors to be participating by 1 January, 2013.

The government is currently finalising decisions on the legislation for emissions trading, which is likely to be introduced into Parliament before Christmas. Following the Bill’s introduction, it will be referred to a select committee in the normal manner.

The government will continue to work with business and other stakeholders on details of the scheme over the next year. It will also undertake regular reviews of the scheme involving stakeholders.

See http://www.climatechange.govt.nz/nz-solutions/engagement.shtml for workshop programme details and registration.

ENDS

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