The Climate Change Response (Emissions Trading and Other Matters) Amendment Bill is now before the Finance and Expenditure Select Committee and public submissions are being invited on the Bill. The closing date for submissions is 10 September 2012.
The Bill amends the Climate Change Response Act 2002 to introduce the changes the Government announced in July for the New Zealand Emissions Trading Scheme (ETS). The purpose of the changes is to maintain the costs that the ETS places on the economy at current levels. The changes also make a number of amendments to improve the operation of the ETS, particularly for forest landowners.