Products
Environmental
Asia Pacific New Zealand Emissions Market
In the Asia-Pacific region, Australia and New Zealand are most advanced with plans for domestic emissions trading schemes.
Emissions trading is a core component of the NZ government’s climate change solutions and is aimed at meeting New Zealand’s Kyoto commitment (1990 emission levels). Legisalation for Emissions Trading was passed this week. The NZ government’s Finance and Expenditure Committee has recently released its report on the Climate Change (Emissions Trading and Renewable Preference) Bill which was written to amend the Climate Change Response Act 2002 to introduce the New Zealand Emissions Trading Scheme (NZ ETS) covering 'all sectors and all gases'.
The planned phase-in schedule for the NZ ETS is shown in the table below:
| Sector
|
Commencement of Obligations
|
End of Initial Compliance Period
|
| Forestry (includes deforestation of pre-1990 forest land and afforestation
post-1989)
|
1 January 2008
|
31 December 2009
(first compliance period is 2 years)
|
| Liquid fossil fuels (mainly transport)
|
1 January 2009
|
31 December 2009
|
| Stationary energy (includes coal, gas and geothermal)
|
1 January 2010
|
31 December 2010
|
| Industrial processes (non energy) emissions
|
1 January 2010
|
31 December 2010
|
| Agriculture (includes pastoral and arable farming and horticulture)
|
1 January 2013
|
31 December 2013
|
| Waste
|
1 January 2013
|
31 December 2013
|
