Reduced emissions show ETS working - Govt
Reports New Zealand is on track to meet its Kyoto commitments shows the Emissions Trading Scheme (ETS) is working, Climate Change Minister Nick Smith says.
Reports New Zealand is on track to meet its Kyoto commitments shows the Emissions Trading Scheme (ETS) is working, Climate Change Minister Nick Smith says.
Reports New Zealand is on track to meet its Kyoto commitments shows the Emissions Trading Scheme (ETS) is working, Climate Change Minister Nick Smith says.
The Greenhouse Gas Inventory Position Report said the country's total emissions in 2009 were 70.6 million tonnes -- down 3 percent from 2008.
Net emissions under Kyoto rules for 2009 were 53.4 million tonnes.
"These are the most encouraging reports on climate change in a decade in that they show a reduction in emissions and New Zealand comfortably meeting its Kyoto commitments," Dr Smith said.
"We still have a huge job ahead in meeting our long-term emission reduction target of a 50 percent reduction by 2050."
The Projected Net Position Report estimates New Zealand will have a surplus of 21.9 million tonnes for the Kyoto Period of 2008-2012, a significant improvement from the 11.4 million tonnes estimated last year.
"These reports show the ETS working effectively in the forestry sector with deforestation ending when the scheme took effect in 2008."
Dr Smith said it was too early to confirm the effect of the ETS on emissions in the energy and industrial sectors, but he was encouraged by the switch from investment in thermal generation to renewables.