Why the ETS alone won’t get us to net zero emissions

The ETS is a blunt instrument that won't be enough on its own to meet emissions reduction goals. (Image: Deposit Photos)

Catherine Leining

Fri, 30 Jul 2021

I was part of the policy team that designed New Zealand’s emissions trading scheme (ETS) in 2007/08.Thirteen years later, I am part of the Climate Change Commission team recommending a new path to net zero emissions by 2050. This path includes the ETS but it is clear that while the ETS has a vital role to play, it cannot do it alone.When conventional markets ignore the climate costs of our choices as producers and consumers, they actively push us in the direction of dangerous climate change. For example, markets currently tell us tha...

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