Government throws a bone to ETS critics, looks to ban more-dodgy foreign credits

Wed, 17 Oct 2012

By Pattrick Smellie Oct 17 (BusinessDesk) - Climate Change Minister Tim Groser has thrown a small bone to critics of the government's weakening of the emissions trading scheme, promising a review of low-quality foreign-sourced carbon credits that slipped through the cracks of an earlier ban. However, carbon market watchers says ban so-called "grey" Emissions Reduction Units is a token move that will do nothing to restore the value of New Zealand Units, the locally issued carbon units whose value has sunk below $3 a tonne of carbon this week,...

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