What NZ business says about proposed ETS changesSubmissions on the Parliamentary website show the NZ Government has won support from big business for its proposed watering down of the carbon Emissions Trading Scheme, but not all economic interests are pleased. Indeed, so watered down is the Emissions Trading Scheme (ETS), that one carbon broker predicted the carbon price could fall to near zero.
A dramatic crash in carbon prices thanks to the global economic slowdown has rendered the ETS ineffective in getting businesses to move towards a lower carbon future, but the Government has proposed to weaken the scheme still further through the Climate Change Response (Emissions Trading and other Matters) Amendment Bill, arguing it would be madness to risk jobs until bigger economies do their bit.
Among the measures proposed in the bill are extending the "transitional" measures designed to limit the cost of the scheme for business indefinitely, and to allow the Government to create and auction carbon credits, usually referred to by the dry designation of "units", at will.
Despite giving business and the public just 15 days to submit their thoughts on the proposed changes to the ETS over 800 submissions were made. More >>
Copyright 2004-2013 © Innovatek Ltd. All rights reserved.