Consultation on the carry-over of Kyoto units under the ETS

Date:
Telephone: 029 894 0328

The Government is seeking feedback on the application of international carry-over rules to the New Zealand Emissions Trading Scheme (ETS). These rules place a restriction on the number of some types of units which can be carried over from the first Kyoto Protocol commitment period (2008–2012) and be valid for surrender in the second Kyoto Protocol commitment period (2013–2020).

The international carry-over rules require units which are not carried over to be cancelled after the 31 May 2015 ETS surrender deadline. AAUs can be carried over without limitation. The Government must decide to what extent, if any, New Zealand’s 2.5 per cent international carry-over entitlement for Certified Emissions Reductions (CERs) and Emission Reduction Units (ERUs) is extended to individual account holders.

The Government is consulting on this issue now to provide greater certainty to ETS participants, and to allow them to plan their compliance purchasing and surrendering appropriately.

Information received through this consultation process will allow the Government to better assess the potential impacts on account holders and participants of the various options set out in the consultation document.

Consultation is open from Monday 4 March to 5 pm Friday 29 March. More information, and the consultation document, are available at

http://www.climatechange.govt.nz/consultation/ets/proposed-options-for-carry-over-units-ets-2013.html

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