M-co Welcomes Govt Carbon Trading Initiatives

20 September 2007

M-co New Zealand Welcomes Government Carbon Trading Initiatives

M-co New Zealand welcomes the Labour-led Government’s initiative to introduce an emissions trading system for New Zealand.

“The proposed trading system is an important step forward in reducing New Zealand’s carbon footprint and achieving ongoing environmental sustainability,” said M-co New Zealand Chief Operating Officer, Carl Hansen.

M-co is particularly pleased the Government has opted for a competitive market, where brokers and market operators compete for carbon trading business. This will ensure the best trading arrangements are adopted to meet the needs of participants.

M-co also applauds the Government for allowing strong linkages with other international trading regimes. This feature is critical to avoiding the imposition of high-cost emission reductions in New Zealand, when cheaper options are available offshore. It also creates opportunities for innovative New Zealand firms to supply emission reductions to the rest of the world.

M-co, using its emission registry platform (www.regi.co.nz), recently partnered with Meridian Energy, Trade Me and Landcare Research to launch New Zealand’s first public auction of verified emission reduction units.

“This highly successful initiative showed that New Zealand has a real appetite for innovative, market driven solutions, to confront a global issue,” Mr Hansen said.

ENDS

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