Template:New Zealand green trading

From Lauraibm

Full story: New Zealand Wants Green Trading Scheme (20-Sep-07)

New Zealand is aiming to cut pollution at the lowest cost to economic growth; the plan is to achieve this through allocating an agreed level of greenhouse gas emissions to each industry during the year 2008. Businesses can then either reduce emissions to this agreed level or conversely “buy” credits which allow them to pollute at higher levels.

At present New Zealand emits about 45.5 million metric tons more than the target set for them under the UN Kyoto Protocol, it is hoped that the cap and trade system will cut this amount in half.