Issue 5: December 2007
On 20 September 2007, the Government released The Framework for a New Zealand Emissions Trading Scheme (‘Framework Document’), its core price based mechanism for addressing climate change issues in New Zealand. The Framework Document proposed that the legislative mandate for the Emissions Trading Scheme (‘ETS’) would be through an amendment to the Climate Change Response Act 2002 (‘the Act’).
On 4 December 2007, the Government announced the introduction of the Climate Change (Emissions Trading and Renewable Preference) Bill (‘the Bill’) which amends the Act to introduce the ETS. The focus of the Bill is on the core provisions required for the ETS, which are addressed through the introduction of new Parts 4 and 5 to the Act.
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