Ministers' media release
Forestry Minister Shane Jones and Minister for Climate Change James Shaw have today opened consultation on improvements to the Emissions Trading Scheme (ETS); New Zealand’s main tool for reducing greenhouse gas emissions.
The ETS encourages businesses to reduce their emissions by putting a price on them. The fewer emissions they create, the fewer ETS units they have to pay for.
“The ETS has a vital role to play in New Zealand meeting its climate change targets, but the way it currently operates means it’s not doing that,” Shane Jones said.