BUDGET 2021: Billions in ETS revenue to be recycled

Climate change minister James Shaw won one policy argument but there are more to come.

Fri, 21 May 2021

The budget decision to recycle at least $3 billion over five years from Emissions Trading Scheme (ETS) revenue back into emissions reductions is another move in the debate about climate change policy and how to fund it.The estimate of earnings is likely to be on the low side as Treasury has assumed the price of New Zealand Units – the carbon units traded on the ETS – will remain at about $37.This is unlikely to remain that low as the Climate Change Commission’s draft advice and carbon budgets recommend a lift in the floor and...

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