BusinessNZ and the Sustainable Business Council have welcomed changes signalled for New Zealand’s Emissions Trading Scheme.
BusinessNZ Chief Executive Kirk Hope said the amendments to the ETS made sense in the international context.
“The world is grappling with maintaining economic growth, reducing emissions, and the decision by the US to withdraw from the Paris agreement on climate change.
“The amendments will help ensure the core building blocks of the New Zealand ETS are fit for purpose and able to take us towards our 2030 target and beyond.
“The process set out will allow for the economy-changing impacts of the ETS to be carefully considered, and will signal changes well in advance so that businesses and consumers can be better prepared to manage change,” Mr Hope said.
Sustainable Business Council Executive Director Abbie Reynolds said SBC members had identified transition to a low carbon economy as a priority and the changes would contribute to leading the transition.
“In the meantime, SBC members are in growing numbers setting bold long-term carbon reduction targets, some of which are directly aligned to New Zealand’s Paris commitment.”