Consultation underway on ETS changesFriday 13 Apr 2012 The NZ Government on Wednesday released a consultation document setting out proposed changes to the New Zealand Emissions Trading Scheme. The announcement follows the first mandatory review of the scheme last year which recommended several refinements, including extending the transitional implementation phase of the scheme and changing aspects of how forestry is treated.The proposed changes include: • A more gradual phase out of the 'transition measures' put in place for business; • The introduction of more explicit powers for the Government to auction New Zealand Units within an overall cap and restrict the use of overseas units in the ETS; • The introduction of offsetting for pre-1990 forest landowners and a review of the level of compensation being provided; and • Subject to a 2014 review, provision for a maximum three-year postponement of the agriculture sector’s inclusion. Consultation on the proposed changes will run until 11 May with a series of nationwide hui/meetings planned on 17-23 April. For further information on the planned meetings, click here. To view the discussion document click here
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