Leaving Paris ‘not in red meat sector’s interests’
Beef and Lamb New Zealand (B+LNZ) chair Kate Acland says it’s not in red meat farmers’ interests to leave the Paris Agreement on climate change.
Climate Change Minister Simon Watts says updates to the New Zealand Emission Trading Scheme have been made to ensure New Zealand has a more credible market.
“Since coming into Government, we have been clear we want a credible ETS-led approach to reduce emissions, and we were willing to make tough decisions to achieve this,” Watts says.
“To ensure the market operates as intended, we need settings to align with New Zealand’s climate targets and give participants confidence that their investments to reduce emissions will be rewarded,” he adds.
“The feedback we received is consistent with our decisions, and we have made the necessary changes that extends further than the advice we received from the Climate Change Commission.”
Watts says the Government will retain the current auction floor price, the containment reserve price, and current reserve volumes of New Zealand units in the Emissions Trading Scheme.
“These settings are doing their job and should be left alone,” he says.
The Government will also reduce the number of units available between 2025 and 2029, from 45 million to 21 million.
“As it stands, there is an oversupply of units held by participants which has contributed to a depreciated price of carbon,” Watts says. “This has led, in part, to the failure of recent auctions to clear, and poses a risk to achieving our climate targets and emissions budgets.”
He says that reducing the number of units will likely see the carbon price rise.
“We need the carbon price to encourage businesses and individuals to reduce their emissions to meet our climate targets.”
“We are mindful of the impact potential price rises will have on everyday New Zealanders, however, our modelling suggests the impact will be minimal,” Watts concludes.
Changes to unit numbers will take effect from the first auction of 2025.
Federated Farmers supports a review of the current genetic technology legislation but insists that a farmer’s right to either choose or reject it must be protected.
New Zealand’s top business leaders are urging the US Administration to review “unjustified and discriminatory tariffs” imposed on Kiwi exporters.
New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
Carterton's Awakare Farm has long stood as a place where family, tradition and innovation intersect.
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
OPINION: At last, a serious effort to better connect farmers and scientists.
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