Emissions Trading Scheme

Awesome news. Can we just cancel it now?

The Green taliban are outraged, because they say the Emissions Trading Scheme is so weak now it is ineffective.

An?evaluation of the Emissions Trading Scheme shows the Government has “weakened the scheme to the point of ineffectiveness,” says Green Party co-leader James Shaw.

The Government released three technical reports last week, to help New Zealanders engage with a public review of the ETS.

One of those, a Ministry of Environment report into the performance of the ETS, found it provided businesses nearly no incentive to look at how to reduce their emissions.

Shaw said that with expenditure of $40m on setting up the ETS, and despite it being the Government’s main policy for tackling climate change, it was failing. ?? Read more »

Three Little Letters

Shearer and Labour have been complaining a lot today about job losses at Tiwai Point.

I have a three letter reponse?ETS.

The owners of the Tiwai Pt Aluminium smelter say the Government’s emissions trading scheme puts the smelter on the path to closure, which would cost thousands of jobs and more than $1 billion a year in exports.

Rio Tinto Alcan (which includes the former Comalco) told MPs hearing submissions on the emissions trading bill yesterday that in its present form it meant New Zealand would not remain a cost-competitive place to manufacture aluminium.

The smelter could not pass on the extra cost of its carbon emissions to its customers, Rio Tinto’s Asia/Pacific president Xiaoling Liu said.

Nor would it be competitive, until there was a global price on carbon emissions reflected in aluminium prices.

Labour’s planned ETS would have shut Tiwai Point years ago.