Climate change

Budget to help 'tight' challenge to meet carbon targets: Shaw

Pattrick Smellie
Mon, 09 May 2022

Budget to help 'tight' challenge to meet carbon targets: Shaw
Regular serious flooding is a sign that NZ is already experiencing climate change impacts, says James Shaw. (Image: NZME)
Pattrick Smellie
Mon, 09 May 2022
Government plans for climate emissions reductions will still likely leave the country buying 100 million tonnes or more of carbon credits on international markets to meet its global commitments on emissions cuts promised by 2030.Using the price of a tonne of carbon in the New Zealand emissions trading scheme of about $75 today, the bill for carbon emissions not reduced at home would be some $7.5 billion at current prices.However, prices differ in different markets. The European Union carbon price is currently about $150 a tonne, while the price...

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