5 May 2009

More data wanted by NZ before setting carbon trading target

11:21 am on 5 May 2009

The Government says New Zealand won't set a carbon trading scheme target until it has received key satellite information.

Australia on Monday delayed the start of its scheme until 2011, despite earlier saying it would be reckless to put it off.

The federal government also increased the range of its emissions reduction target from 5% to 25% of 2000 levels by 2020.

Environment Minister Nick Smith told Morning Report the Government expects to have the latest data on climate change by next month.

However, he said it would make sense to set targets similar to Australia.

The Australian government says the global financial crisis is the major factor in its decision to delay its scheme.

Comment by Key

Prime Minister John Key says he was not given any prior warning that Australia was planning to delay its emissions trading scheme.

Despite wanting the two countries to align their respective schemes, Mr Key says it's not inevitable that New Zealand will also announce a delay.

Labour leader Phil Goff says it would be a mistake to delay New Zealand's scheme further as the affected sectors need some certainty.