Hon Dr Nick Smith
Minister for Climate Change Issues

23 December 2010

Media Release

Govt announces ETS Review

Climate Change Issues Minister Nick Smith today announced the panel and terms of reference for the review into the emissions trading scheme to ensure it is meeting its purpose of reducing emissions at least possible cost and that New Zealand is appropriately pacing itself on climate change relative to its key trading partners.

“All the international evidence confirms that pricing emissions is the most efficient way of addressing climate change. This review is not about whether we have an ETS or not, but about the important operational detail and the pace of its implementation to strike the right balance between New Zealand’s economic and environmental goals,” Dr Smith said.

“The review is to be chaired by David Caygill who brings a huge amount of public policy experience as a former finance minister, trade and industry minister and Chair of the Electricity Commission.”

Other members of the panel include:

Julia Hoare, a chartered accountant at PricewaterhouseCoopers specialising in carbon markets, and an adviser to the special select committee on the ETS

Chris Karamea Insley, a company director with specialist knowledge of forestry, a Scion board member, with tikanga Maori knowledge, fishing interests and a sound understanding of the Treaty of Waitangi

Tom Lambie, a dairy farmer and former President of Federated Farmers and currently Chancellor of Lincoln University

David Russell, former Chief Executive of the Consumers Institute

Geoff Thompson, a lawyer and consultant at Duncan Cotterill, with specialist knowledge of forestry aspects of the ETS

Dr John Wood, Pro-Chancellor of the University of Canterbury, former Ambassador to United States, Japan, Germany and Iran, and now a small scale sheep and beef farmer.

“The ETS review team will be providing the opportunity for public submissions,” Dr Smith said.

“I have also consulted with Australian Climate Change Minister Greg Combet on interactions between Australia’s Multi Party Committee on Climate Change and the ETS Review Group. We remain of the view that a close relationship between New Zealand and Australia on climate change policy continues to make sense for both countries.

“New Zealand’s climate change policy is in good shape with our ETS up and running, new investment occurring in forestry and renewable energy, and complementary programmes delivering record numbers of insulated houses and solar water heating systems. However, we need to keep a close eye on international developments and how the ETS is working in New Zealand to ensure we keep doing our fair share on climate change at least cost to consumers and businesses.”

ENDS

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