The Climate Change Response Act 2002 puts in place a legal framework to allow New Zealand to ratify the Kyoto Protocol and to meet its obligations under the United Nations Framework Convention on Climate Change.
The Act includes powers for the Minister of Finance to manage New Zealand’s holdings of units that represent New Zealand’s target allocation for greenhouse gas emissions under the Protocol. It enables the Minister to trade those units on the international market. It establishes a registry to record holdings and transfers of units. The Act also establishes a national inventory agency to record and report information relating to greenhouse gas emissions in accordance with international requirements.
Last updated: 29 September 2008