ETS important but not enough

ETS important but not enough

Changes to New Zealand’s Emissions Trading Scheme are important but more is needed to meet the climate ambition agreed in Paris, the Sustainable Business Council says.

In its submission to the Government’s review of the ETS, the SBC says the ETS is only part of the solution for New Zealand when it comes to taking action against climate change.

“SBC would like to see the ETS become one of a number of comprehensive and ambitious domestic approaches,” the SBC submission says. “We need coherent, predictable government policy across energy, transport, agriculture and infrastructure.”

SBC Executive Director Abbie Reynolds says many New Zealand businesses are already taking action to reduce their emissions, finding opportunities, cost savings and efficiencies as a result.

Some are driving innovation, trialling and introducing new technology. But all of them need government to provide a clear pathway to go further.

“Our members want to see a consistent approach to managing climate change that applies across Ministries,” she says.

“We need a clear path that shifts us towards a net zero emissions economy that includes a reduction in gross emissions domestically over time. We’re committed to working with government to achieve that, and have started work in the form of the business initiated climate change leader’s dialogue.”

In its submission, the SBC says the Government should aim for an “ideal ETS” which would include all sectors and would have no price floor or cap.

However, the Government would need to carefully consider how it got there, so NZ maintains its international competitiveness and find the most emissions-efficient products and services globally.

The SBC has also proposed restricting the supply of international carbon credits and placing an absolute cap on emissions; a New Zealand “emissions budget”.

ENDS

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