9 Jun 2010

Submissions closing on ETS farm factors

3:01 pm on 9 June 2010

Wednesday is the last day for submissions on how agriculture emissions will be calculated in the Emissions Trading Scheme (ETS).

The agricultural sector, which accounts for half of New Zealand's greenhouse gas emissions, enters the scheme with voluntary reporting from next year.

It isn't due to be included fully until 2015, but taxpayers will start feeling the financial effects of the ETS in July.

The Ministry of Agriculture has been consulting on regulations for agricultural thresholds and exemptions, and ways of calculating agriculture emissions.

It has received nearly 50 submissions so far.

Federated Farmers says it estimates the scheme is likely to cost farmers at least $100 million.