ETS review begins

Consultation has begun on improvements to the Emissions Trading Scheme (ETS).Government has committed to fix the ETS, making it more streamlined, accessible and flexible and give users more confidence and certainty.A net zero emissions target by 2050 is currently being considered in the Zero Carbon Bill process and this consultation aims to significantly improve the ETS so that it is a credible and well-functioning scheme.

Businesses say that they haven’t had clear and consistent information on which they can assess the value of an NZ ETS unit and, therefore, how it could affect their bottom line. One of the proposed improvements is a consistent, transparent way of making decisions about the supply of ETS units.

As part of the consultation, the Government is seeking stakeholder opinion on the possibility of a change to the $25 fixed price option. Consultation runs until 21 September, with stakeholder meetings at a number of locations around the country.

Submissions and more information can be made here The discussion document for improvements to the ETS framework can be viewed hereThe discussion document for the forestry improvements to the ETS is here