17 Oct 2012

ETS amendments faulted by opposition parties

5:45 pm on 17 October 2012

Opposition parties have criticised the Government for ignoring the pleas of carbon farmers being hit by record low prices.

The select committee reviewing legislation amending the Emissions Trading Scheme reported back on Wednesday, largely backing changes announced by the Goverment earlier this year.

Those changes include keeping agriculture out of the scheme indefinitely, and allowing polluters to import unlimited foreign carbon credits.

The Green Party, in a minority opinion, says open slather on imported credits is undercutting local foresters selling credits.

The Labour Party says the record low prices for imported credits are destroying the local industry and will make it harder in the future for New Zealand to meet its international obligations to cut carbon emissions.