The NZ ETS covers forestry (a net sink), energy (42% of total 2012 emissions), industry (7% of total 2012 emissions) and waste (5% of total 2012 emissions) but not pastoral agriculture (46% of 2012 total emissions).Participants in the NZ ETS must surrender one emission unit (either an international 'Kyoto' unit or a New Zealand-issued unit) for every two tonnes of carbon dioxide equivalent emissions reported or they may choose to buy NZ units from the government at a fixed price of NZ.The New Zealand Government has made a long-term commitment to reducing our greenhouse gas emissions.Our primary method for doing this is the Emissions Trading Scheme.This page provides information on the New Zealand Water Efficiency Labelling Scheme (WELS) for consumers wanting to buy a new water-using product and retailers who sell water-using products.The New Zealand Water Efficiency Labelling Scheme (WELS) is designed to provide information, through labelling at the point of sale, to consumers buying products that use water.Pollution taxes are often grouped with two other economic policy instruments: tradable pollution permits/credits and subsidies.
Watch a video about the ETS on You Tube Forest owners and landowners participate in the ETS in 2 ways: Forest species in the ETS are those that can reach at least 5 metres in height at maturity.
The New Zealand Emissions Trading Scheme (NZ ETS) is a partial-coverage all-free allocation uncapped highly internationally linked emissions trading scheme.
The NZ ETS was first legislated in the Climate Change Response (Emissions Trading) Amendment Act 2008 in September 2008 under the Fifth Labour Government of New Zealand by the Fifth National Government of New Zealand.
Forestry is important in helping New Zealand meet its international climate change obligations.
By putting a price on greenhouse gases, the Emissions Trading Scheme (ETS) encourages landowners to establish and manage forests in a way that increases carbon storage.