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Thu, 8 July 2010
New Zealand has launched an Emissions Trading Scheme, which will see companies trading in carbon credits referred to as New Zealand Units.
Under the Kyoto Protocol, New Zealand agreed to reduce its greenhouse gas emissions to 1990 levels by 2012 or pay for any excess – the country has adopted an Emissions Trading Scheme (ETS) in order to fulfil this agreement.
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The New Zealand Government hopes that the ETS will be the most cost-effective way to reduce carbon emissions and provide an incentive for businesses and consumers to change their energy consumption behaviour.
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Categories: Carbon trading, Climate Change, Energy efficiency, Policy
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