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Govt Asks Businesses About Allocating Units Under ETS

Fuseworks Media
Fuseworks Media
Nick Smith
Nick Smith

Wellington, Dec 11 NZPA - A consultation document on allocating emission units to industry under the emissions trading scheme (ETS) was released by Climate Change Minister Nick Smith today.

The most complex aspect of the ETS was the allocation for trade-exposed industries producing a lot of greenhouse gases, Dr Smith said.

The Government wanted to soften the blow to these industries by giving them carbon credits to avoid them moving their emissions and jobs offshore.

"The law provides for allocations to industries at 60 percent for those on 800 tonnes per $1 million revenue and 90 percent for those on 1600 tonnes per $1 million revenue."

This process is about identifying those firms and putting the systems in place to provide their allocation, Dr Smith said.

"The consultation document lists industrial activities that might be eligible for an allocation.

"The Government wants firms that conduct these activities to identify themselves.

"It also wants firms that perform other activities that may also be eligible to receive an allocation to come forward."

New Zealand had aligned its industry allocations with the proposed Australian carbon pollution reduction scheme.

The failure of the Australian Government to get parliamentary support for its legislation means New Zealand is going to advance work on allocations ahead of Australia.

"The Government, through the Ministry for the Environment, will make its best endeavours to give certainty to eligible companies before July about how many emission units they'll receive. Manufacturers and industrial companies should be thinking as soon as possible about compiling data that will be needed for eligibility decisions."

The Government has legislated to introduce the ETS in the energy and industrial sectors in July 2010.

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