The Climate Change Response (Emissions Trading Reform) Amendment Bill is currently going through Parliament. If passed, the Bill will amend the Climate Change Response Act 2002, to enable the Government to put a limit, also known as a ‘cap’, on emissions covered by the New Zealand Emissions Trading Scheme (NZ ETS).
Underpinning the NZ ETS cap will be a ‘provisional emissions budget’ for the period 2021-25. The Government will also need to set regulations relating to other NZ ETS settings including the quantity of NZ ETS units (NZUs) available to auction annually and NZU price controls.
This consultation document outlines the Government’s proposals for the provisional emissions budget and the accompanying NZ ETS settings. It discusses New Zealand’s current emissions reduction targets, potential ways to deliver efficient emissions abatement, and the impacts of an increasing NZU price.
Data for graphs in the consultation document [Excel, 24 KB]
Have your say
We seek your feedback on the questions asked within the document and overall views on the analysis and methodologies used to reach the final proposals. See the consultation: Reforming the New Zealand Emissions Trading Scheme: Proposed settings
Submissions close on Friday 28 February 2020 at 5pm.