CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Industrial Information Sought For New Zealand's ETS Allocations

Industrial Information Sought For New Zealand's ETS Allocations

by Mary Swire,, Hong Kong

16 December 2009

The New Zealand government has released a consultation document as a first step in the process of allocating emission units to industry under the Emissions Trading Scheme (ETS).

"The most complex aspect of the ETS is allocations for trade-exposed industries that are emissions intensive. These are necessary to avoid the problem of exporting these industries and their emissions and jobs offshore,” the Minister for Climate Change Issues, Nick Smith, said.

"The law provides for allocations to industries at 60% for those on 800 tonnes per NZD1m (USD720,000) revenue and 90% for those on 1,600 tonnes per NZD1m revenue. This process is about identifying those firms and putting the systems in place to provide their allocation.”

"The consultation document lists industrial activities that might be eligible for an allocation. The government wants firms that conduct these activities to identify themselves. It also wants firms that perform other activities that may also be eligible to receive an allocation to come forward.”

One of the main features of New Zealand’s revised ETS includes a revised entry date of July 1, 2010 for the transport, energy and industrial sectors.

"New Zealand aligned its approach to industry allocations closely with that which was proposed under the Australian Carbon Pollution Reduction Scheme,” Smith added. Now, delays with that scheme mean New Zealand is going to need to advance work on allocations ahead of Australia.

"The government, through the Ministry for the Environment, will make its best endeavors to give certainty to eligible companies before July about how many emission units they'll receive,” he emphasized.

“Manufacturers and industrial companies should be thinking as soon as possible about compiling data that will be needed for eligibility decisions. Getting on with this work is important to ensuring a smooth introduction of New Zealand's ETS in the energy and industrial sectors on July 1, 2010."

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »