ETS must be allowed to do its job of reducing net carbon emissions

Responding to the Ministry for the Environment’s announcement of a review into New Zealand's Emissions Trading Scheme, Taxpayers’ Union Campaigns Manager, Callum Purves, says:

“While a review of New Zealand’s Emissions Trading Scheme is long overdue, the Government’s prioritisation of reducing gross carbon emissions over net emissions is illogical and ill-informed. Such an approach will not help tackle climate change, will disincentivise investment in carbon sequestration technologies, and will come at an exorbitant and unnecessary cost to the taxpayer.

“The Emissions Trading Scheme is the most effective way to reduce net carbon emissions. It ensures that net emissions reduce over time while doing so in the most efficient way possible and at least cost to taxpayers. But it must be allowed to do its job.

“If the Government is serious about meeting our international climate commitments, it should work towards expanding the Emissions Trading Scheme to cover all sectors of New Zealand’s economy – including agriculture – with appropriate mitigations.

"If the Minister is worried about afforestation in New Zealand, he should open the ETS market up to the world and allow emitters to purchase credits from approved overseas sequestration programmes."

The Ministry for the Environment's announcement can be read here.