Adrift: What future does the Emissions Trading Scheme have? - PCE

Adrift: What future does the Emissions Trading Scheme have? traces the evolution of the NZ ETS, explores significant risks emerging from its current design, and considers the choices facing decision-makers if the NZ ETS is to more effectively contribute to emissions reduction goals.

The Parliamentary Commissioner for the Environment report finds that the NZ ETS will not achieve our climate goals. He says the NZ ETS has reached a critical turning point and major reform is needed.

The report finds that the NZ ETS will not achieve our climate goals. The NZ ETS has reached a critical turning point and major reform is needed.

“Forestry still has an important role to play in New Zealand’s climate policy. The question is not whether forestry has a role – it is whether that role should continue to be delivered through the NZ ETS."

The Commissioner calls for a comprehensive review of the NZ ETS to:

• foster cross-party and public discussion about the future direction of climate policy and the outcomes New Zealand expects the ETS to deliver

• reconsider the role of forestry within the scheme and explore opportunities for encouraging forestry outside the ETS.

He also recommends some immediate changes aimed at “freezing” the situation to buy breathing space to discuss the problem, and to develop, agree upon and implement workable solutions.