The Ministry for the Environment is welcoming feedback on a review of the design of the New Zealand Emissions Trading Scheme (NZ ETS) and its permanent forestry category.
The review is to ensure the NZ ETS is best equipped to reduce climate pollution at source while also supporting greenhouse gas removals.
The NZ ETS in its current form may not be incentivising emissions reductions. This is because it is cheaper for most companies to pay for their emissions rather than invest in ways to reduce them.
The review will focus on the benefits, trade-offs and risks of changing the NZ ETS to incentivise emissions reductions.
It follows advice from He Pou a Rangi – Climate Change Commission. It recommended that the Government consider amending the NZ ETS to provide more robust support for emissions reductions, alongside enduring support for emissions removals through forestry.
The consultation closes on 11 August 2023. Find out more and how to feedback below.
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