New Zealand is currently conducting a review of its emissions trading system for greenhouse-gas pollutants, as required by the law that enacted the program.
EDF recently submitted comments for the review, because:
we believe that what happens in New Zealand can make a real difference to the global response to climate change. Historically, New Zealand has initiated important policy innovations that have been adopted around the world over time, from female enfranchisement to fisheries quota management systems. Again, the world is watching New Zealand…
Our comments focus on developments in carbon markets including California, Europe, and elsewhere, suggesting some enhancements that New Zealand policy-makers may wish to consider in the post-2012 environment.
In our submission, we also recommend the country pay particular attention to factors such as:
- Flexibility and adaptability
- Continued access to other carbon markets
- Ongoing development of other carbon markets
- Maintaining control and flexibility over the types of offsets which can be admitted into the New Zealand ETS
- Environmental credibility of the market and its instruments
Read more about EDF's Submission to New Zealand’s Emissions Trading Scheme (ETS) Review 2011.