This submission is not comprehensive, and we reiterate the recommendations made by the Council (OraTaiao) alongside other NGOs during the NGO consultation by the ETS 2011 Review Panel on 7 March 2011, that New Zealand’s ETS must:
• provide clearer emissions reduction quantity targets
• take the price cap off and remove the 2 for 1 rule to let the price signal rise
• extend coverage to all sectors and remove concessions, particularly for farming
• let alternative abatement methods blossom
• place limit on credits bought and sold in the system internationally
• change from an intensity based allocation to a capped absolute system.
Read full submission here.