The Ministry for the Environment issued a consultation document titled “Improvements to the Emissions Trading Scheme” in August 2018. Submissions closed on 21 September 2018.
The Consultation Document follows the close of consultation on the Zero Carbon Bill which puts in place the core building blocks to support NZ’s transition to a low-emissions economy.
The ETS is the key mechanism to enable the Government to meet its emission reduction targets. The Scheme needs to ensure effective emissions pricing to incentive businesses to reduce emissions, innovate and invest in low-emission solutions.
NZWEA is supportive of the proposed changes which are positive for renewables and in our submission comment as follows:
- The refresh of the NZ Energy Efficiency and Conservation Strategy, Productivity Commission’s Low-emissions Inquiry, the proposed Zero Carbon Bill and improvements to the ETS are important developments in ensuring the alignment of climate change strategy and actions which the Association supports.
- Overall the proposed improvements to the ETS represent a step change in addressing known issues and restoring confidence in the Scheme’s ability to enable emission reduction targets to be met.
- A key improvement that the Association considers important to include is a price floor as recommended by Motu to build confidence for low-emission investors and innovators.
The Association’s submission can be viewed here: