BusinessNZ has welcomed the announcement of the first tranche of decisions from the ongoing development of the NZ Emissions Trading Scheme.

BusinessNZ Chief Executive Kirk Hope said the ETS needs a careful balance between contributing to emissions reduction and maintaining New Zealand as a prosperous economy that encourages investment and job creation.

"The steady, well-signposted development of the ETS framework, based on consultation, maintains business confidence in the process and the outcomes reached."

Mr Hope said the decision not to rush the removal of the price cap was positive, and business would continue to work with Government as it works towards implementing a scheme cap and auctioning, but business was not convinced about the need for a price floor in light of the other changes announced.

"The ETS is part of a bigger picture in emissions reduction, and plays a crucial role in meeting New Zealand’s new emissions reduction target. We look forward to hearing the outcome of the bipartisan discussions on the zero carbon bill and the new target in the near future."

ENDS

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