Business NZ to develop framework for emissions

Media release
8 December 2006

Business NZ members to develop framework for emissions trading

Business NZ is leading a project to develop a framework for emissions trading.

Partners in the project include Business NZ members Genesis Energy, Mighty River Power, Contact Energy, BlueSkope Steel, Solid Energy, Comalco, Fletcher Building and Fonterra.

The project analysis, to be undertaken by the New Zealand Institute of Economic Research in association with Frazer Lindstrom, will:

• review emissions trading schemes already in operation or being designed internationally
• develop a framework for emissions trading in New Zealand after 2012 that aligns with international schemes
• evaluate and make recommendations on emission credit allocation schemes for different sectors

The work will be completed early next year.

Business NZ Chief Executive Phil O’Reilly said Business NZ was leading the project because it was important that mainstream business took a pro-active approach to the issue of climate change.

“Business wants any emissions trading regime that eventuates to be as apolitical as possible. The kind of investment required of business will be long-term, and business would not want the threat of political changes damaging that investment.

“It’s important that the system doesn’t harm business competitiveness, and hopefully it can actually enhance competitiveness.

“Political parties need to take on board what business considers would be a workable system.

“We need a robust emissions trading scheme capable of integrating with other international schemes when they go on line post 2012,” Mr O’Reilly said.

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