Nick, nobody has an ETS like ours

The Earth's atmosphere

In the Parliament today, Chris Auchinvole asked Nick Smith (Minister for Climate Change): “Are claims correct that New Zealand is the first in the world to have an emissions trading scheme, and that it is just a tax for revenue purposes?”

And thus did Nick reply:

No, 38 countries have commitments under the Kyoto Protocol, and 29 of them, or three-quarters, already have an emissions trading scheme. Nor is the scheme a tax. Although consumers and businesses will pay $350 million in the first year of the scheme for their emissions, foresters will receive $1,100 million in carbon credits for post-1989 forests. Far from providing net revenue to the Government, the scheme is actually a cost to the Crown. There are 12,000 New Zealanders who, in good faith, planted trees on the assurances of both National and Labour Governments that they would receive carbon credits for those post-1989 forests. The emissions trading scheme honours that commitment.

But the facts are different from those presented by our Nick. Continue Reading →