New Zealand is using a measure that overstates the global-warming impact of methane emissions by a factor of four to five, argue climate-change policy analysts Adrian Macey and Dave Frame.
New Zealand's carbon emissions reduction commitments appear to have regarded as "irrelevant" what cuts could actually be achieved in the NZ economy.
NZ's self-imposed carbon emissions reductions targets could cost $30b over the next eight years because of our heavy reliance on international markets.
Over the next nine years, NZ faces spending $30 billion on international carbon credits, not a cent of which will reduce a kilogram of carbon at home.