OECD report views NZ's ETS as risky

Friday 31 May 2024

A recent OECD report has raised concerns that New Zealand is overly reliant on planting trees as a cheap way to offset carbon emissions, rather than focusing on reducing emissions at the source. This approach is unique to New Zealand, according to the report, and echoes warnings from the Climate Change Commission about the lack of incentive for companies to address the root causes of climate change under current policies.

New Zealand's main tool for fighting climate change, the Emissions Trading Scheme (ETS), requires companies to buy units to offset their emissions, and these units often come from tree planting. While this system encourages tree planting, it may not be enough to incentivise companies to significantly reduce their greenhouse gas emissions.

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Source: Radio New Zealand

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