Draft Guidelines NZ Investment in JI/CDM Projects

Media Release

8 September 2008

Release of Draft Guidelines on NZ Investment in JI/CDM Projects

The release of new draft guidelines around New Zealand investment in projects under the Kyoto Project has been welcomed by an energy sector expert.

The Ministry for the Environment (MfE) has released its draft Guidelines for Investment and Procedures for Investment in Joint Implementation (JI) and Clean Development Mechanism projects under the Project.

The Guidelines allow project owners under New Zealand's Projects to Reduce Emissions programme and operators of the Te Apiti and Tararua wind farms to participate in the Joint Implementation mechanism.

Kensington Swan partner Bryan Gundersen says although the document was required to be developed under New Zealand’s Kyoto obligations, it is still a positive move.

“The guidelines set out what is required of potential investors in these projects in very clear terms.

“It outlines exactly who is eligible and who is not, as well as which projects are eligible and which projects are not under the Kyoto scheme.”

The draft Guidelines provide checklists of what documents are required to be in order before a ‘Letter of Approval’ may be sent to the appropriately authorised authority.

Mr Gundersen says of particular assistance is the appendices to the draft Guidelines which set out in detail what the various forms must look like and what information they must contain.

ENDS

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