James Shaw concedes ETS decisions flawed in law

James Shaw admits cabinet's ETS decision-making was not in line with law. (Image: NZME)

Thu, 13 Jul 2023

Emissions trading scheme settings are to be reviewed after climate change minister James Shaw admitted he made errors in law.Last year, the government declined to follow the Climate Change Commission's advice on tightening emissions trading scheme (ETS) settings. It was the first of a series of decisions and moves by the government, which sent carbon prices plunging from nearly $90 to below $40 now.It was clear at the time that Shaw had argued against the decision but was overruled by his cabinet colleagues.Lawyers for Climate Action NZ Inc...

Subscribe to BusinessDesk

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

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].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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

Despite interest rate cuts, NZ sharemarket falls again

The NZX50 closed at 11,806.55, down 84.89 points or 0.71%.

Graham Skellern 6:10pm

Economy

Economists react to 'dovish' RBNZ cuts

RBNZ says recent global policy developments have shifted the balance of risk.

Rebecca Howard 3:00pm

Environment

Phase out forestry credits for fossil fuel emissions: Simon Upton

Greg Hurrell 2:00pm

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

More Policy

Policy

Airfare reporting not ready for takeoff

Airport group says transparency measure should have a chilling effect on fares.

Oliver Lewis 5:00am

Economy

'The Great Privatisation': a NZ perspective

KPMG partner sees value in considering asset recycling to fund new infrastructure.

Oliver Lewis 5:00am

Policy

Hawkesby appointed RBNZ governor for six months

Finance Minister Nicola Willis has appointed Christian Hawkesby, acting Reserve Bank of New Zealand governor, as governor for six months.Hawkesby’s appointment was recommended by the Reserve Bank of NZ (RBNZ) board.Previously, he was deputy governor.The appointment is effective o...

Staff reporters 08 Apr 2025

Economy

Corporate tax relief still on Budget agenda

Targeted relief rather than a company tax rate cut looks more likely.

Pattrick Smellie 08 Apr 2025

James Shaw concedes ETS decisions flawed in law

More Policy

Your company has a subscription

Team