Buying overseas carbon credits an 'unrealistic option', says Climate Change Minister Watts

Simon Watts says the public won't stand for the purchase of overseas carbon credits. (Image: NZME)

Wed, 11 Sep 2024

The Government is determined that New Zealand won’t ever need to buy overseas carbon credits as it grapples with a massive gap between targets and reality.NZ's nationally determined contribution (NDC) is a 50% reduction in net emissions by 2030 compared to 2005 gross emissions. The country has 65 months to achieve that by cutting domestic emissions or buying offshore carbon credits.Catherine Leining from Motu Economic and Public Policy Research told the Climate Change and Business Conference 2024 this week that no government has imple...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Breaking: Contact Energy to take over Manawa

The deal values the standalone renewables generator at $2.3 billion.

Pattrick Smellie 9:20am

The Quiz Free

QuiznessDesk: Wednesday, September 11

Can you answer all ten questions correctly?

The Quizmaster 9:15am

Media

Wētā FX makes $82m loss

Peter Jackson and Fran Walsh own 60% of Wētā FX.

Gregor Thompson 9:10am

Sponsored

Best place in the world to work

Fiji's business events have unique appeal to New Zealanders.

Tourism Fiji

Sponsored

How to determine retirement lifestyle

Managing wealth not just about accumulation, but how to use it.

Milford

More Climate change

Technology

Sustainability neglect threatens space industry growth

Research found NZ’s space industry sees sustainability as ‘an issue for the future’.

Ben Moore 06 Sep 2024

News in Brief

Govt adjusts ETS settings, reduces number of NZUs

Climate Change Minister Simon Watts announced on Tuesday that the Government has updated emission trade scheme (ETS) settings to "ensure New Zealand has a more credible market".In a statement, Watts said the coalition Government has "been clear" that it wanted a credible ETS-led...

Staff reporters 20 Aug 2024