Issue 10: Asia Pacific climate change policy series: New Zealand

Introduction

The Copenhagen Accord called on Annex I countries to make their climate change pledges, and on Annex II countries to identify their nationally appropriate mitigation actions by 31 January 2010.

In this edition of the Asia Pacific climate change policy series we examine the regulatory framework and climate change investment opportunities in New Zealand.

Key points on New Zealand:

• chief policy tool to reduce GHG emissions is the NZ ETS which introduces a price on GHG emissions to incentivise a reduction in those emissions and to plant forests to absorb carbon
• the NZ ETS links with international markets such as the CDM and the EU ETS by making emission reduction units or allowances from those markets available for surrender or offsetting under the New Zealand scheme