Parliament

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

 

Revised ETS balances NZ’s environment & economy

Hon Dr Nick Smith

Minister for Climate Change Issues
14 September 2009 Media Statement
Revised ETS balances NZ’s environment & economy

The Government, with Maori Party support, will revise the Emissions Trading Scheme to reduce the costs to households and the impact on jobs while ensuring New Zealand takes a responsible approach to the global problem of greenhouse gas pollution and climate change.

“New Zealand needs an emissions trading scheme to discourage carbon pollution, improve energy efficiency and reward afforestation,” Minister for Climate Change Issues Nick Smith says.

“Amendments to the existing legislation are required to make the ETS workable and affordable.”

Features of the revised scheme include:

• Revised entry dates of 1 July 2010 for transport, energy and industrial sectors and 1 January 2015 for agriculture

• A transitional phase until 1 January 2013 with a 50% obligation and $25 fixed price option for the transport, energy and industrial sectors

• A production-based industry average approach to allocations for trade exposed, emissions intensive businesses

• A phase-out of industry support aligned with trading partners and the Government’s long-term -50 by 2050 emissions reduction target

• Incentives for afforestation created by a domestic and international market for carbon credits

• Enhanced transitional support for the fishing industry

“These changes will halve the price impact on households for fuel and electricity to 3.5c/l and 1c/kWh. The fixed price option will provide certainty and stability to enable carbon markets to mature. The changes to transitional support for industry will encourage cleaner technologies without driving jobs, investors and emissions offshore.

“New Zealand’s response to climate change policy risked falling behind without the support of the Maori Party. These changes reflect concerns of the Maori Party over impacts of the Emissions Trading Scheme on low-income households and primary industries such as fishing, forestry and agriculture. Further work will be done with the Maori Party on an extension to the energy efficiency assistance for low-income households, promotion of afforestation, biodiversity protection, recognising the Treaty relationship in ongoing climate change policy and on Treaty settlement issues arising from the ETS.

“The Government will be introducing to Parliament next week a Climate Change Bill implementing these changes to the ETS. We will be continuing to work with Labour and other parties to try and build as wide a consensus as possible in this important policy area. Our objective is to have the revised law passed by the time of the Copenhagen climate change conference in December.”

Summary_of_ETS_Changes.pdf
ETS_Questions__Answers.pdf

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why New Zealand Needs To Change Its Defence Habits


In a flashback to the military displays of days gone by, one of our frigates recently joined a Carrier Strike show of force in the South China Sea, en route to a joint military exercise in Singapore with our traditional allies, called BersamaGold21. Reportedly, Anna Powles, from the Centre of Defence and Security Studies at Massey University felt this to be a case of us doing our bit to uphold international law, and the right of free transit through the region in question... More>>

Government: New COVID-19 Protection Framework Delivers Greater Freedoms For Vaccinated New Zealanders


Vaccinated New Zealanders will regain everyday freedoms when the country moves to a new simplified COVID-19 Protection Framework that doesn’t rely on nationwide lockdowns as the main measure to stop the virus spreading. In a suite of announcements that establish a pathway out of restrictions the Government is also providing up to $940 million per fortnight to support businesses through the challenging period... More>>

ALSO:





 
 


Government: Responds To Independent Review Into WorkSafe

The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says... More>>

Government: New Zealand Secures Historic Free Trade Deal With The United Kingdom
New Zealand and the United Kingdom have agreed in principle the details of a historic Free Trade Agreement (FTA), which will further accelerate our COVID-19 economic recovery say Prime Minister Jacinda Ardern and Minister for Trade and Export Growth Damien O’Connor... More>>

ALSO:

Ombudsman: Launches Investigation Into MIQ Booking System
The Chief Ombudsman Peter Boshier is launching a broad investigation into the Managed Isolation and Quarantine (MIQ) booking system after receiving hundreds of complaints... More>>

ALSO:


Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>


Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>


Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels