Friday, 02 November 2012 08:59

Labour wants more carbon credits bought here

Written by 

The Labour Party is planning to introduce an amendment to the Government's emissions trading bill when it goes through the committee stages in Parliament in the next week or so.

The Climate Change Response (Emissions Trading and other Matters) Amendment Bill passed its second reading a couple of weeks ago. During the committee stages the bill will be debated clause by clause and that's when Labour's spokesperson, Moana Mackey, will introduce an amendment aimed at forcing greenhouse gas emitters to buy at least half their carbon credits within New Zealand. At present they can source all their carbon credits from overseas and this has drawn sharp criticism from local forestry groups.

Mackey claims her amendment won't necessarily push up the price of carbon credits, but it will bring New Zealand into line with what's happening in Australia and Europe in regard to carbon credit policy. She believes it will also bring stability to the forestry sector and she's lobbying United Future's Peter Dunne to support her amendment.

"When Labour put in the ETS we had incentives for forestry planting but this is not happening now and we are not seeing any new plantings. It takes a couple of years to secure the investment for forestry and three or four years for the trees to start sequestering carbon at meaningful rates. We need to be planning and planting forests right now."

Meanwhile, there is speculation New Zealand will not sign up to the second round of commitment to the Kyoto protocol on greenhouse gas emissions. It's understood a Cabinet paper on this has been prepared, but no discussion or decision has been taken. This lines up with the Government concerns about the effects of such a commitment on New Zealand's primary sector.

Even if New Zealand were not to sign the next Kyoto 'commitment' it would still remain a party to the protocol and meet other obligations, primarily in relation to the comprehensive reporting of our greenhouse gas emissions.

- By Peter Burke

More like this

Paris Agreement - stay or leave?

There has been a bit of discussion in the media lately about the Paris climate agreement and whether New Zealand should withdraw from it.

Farmers want certainty

OPINION: We've been having constructive conversations with the Government recently around climate change and emissions from food production, but now is the time to see these conversations turn into action.

Methane targets disappoint farmers

Beef + Lamb New Zealand (B+LNZ) has reiterated calls for New Zealand to revise its methane targets after the Government's "disappointing" announcement of its revised Nationally Determined Contribution (NDC).

Featured

Farmers urged not to be complacent about TB

New Zealand's TBfree programme has made great progress in reducing the impact of the disease on livestock herds, but there’s still a long way to go, according to Beef+Lamb NZ.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

National

Machinery & Products

Farmer-led group buys Novag

While the name and technology remain unchanged and new machines will continue to carry the Novag name, all the assets,…

Buhler name to go

Shareholders at a special meeting have approved a proposed deal that will see Buhler Industries, the publicly traded Versatile and…

» Latest Print Issues Online

The Hound

Make it 1000%!

OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of…

Own goal

OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter