Major reforms to the ETS announced
Friday 25 Oct 2019New Zealand’s Minister for Climate Change, introduced the Climate Change Response (Emissions Trading Reform) Amendment Bill to the House yesterday. This Bill will reform the architecture of the New Zealand Emissions Trading Scheme (NZ ETS) and make the scheme more accessible for forestry participants.
The Bill includes all decisions to improve the NZ ETS that have been publicly announced from December 2018 to July 2019, as set out on the Ministry for the Environment’s website. It also includes provisions to put a price on agricultural emissions from 2025 as part of a broader package of policies to reduce agricultural emissions.
You can read the press release on the Beehive website. The Bill is expected to be referred to Select Committee after the first reading. After that, submissions can be made via the parliamentary website
Source: Ministry for the Environment
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