Submission: Emissions Trading Reform Bill
Our written submission to Parliament's Environment Select Committee on the Emissions Trading Reform Bill (10 February 2020)
Submission on the Climate Change Response (Emissions Trading Reform) Amendment Bill 2019
On 10 February 2020, we wrote to Parliament's Environment Select Committee to provide our submission on the Climate Change Response (Emissions Trading Reform) Amendment Bill and Supplementary Order Paper No 413.
Our submission identified six desirable outcomes for the Bill.
In December 2019, the Interim Climate Change Committee (ICCC) identified six desirable outcomes for the Bill. When we made our submission to the Environment Select Committee, we endorsed these outcomes as we felt they would help New Zealand reach its climate change and economic goals. These outcomes were:
- Coherence with the Zero Carbon Act
- Predictable and coordinated processes for adjusting Emissions Trading Scheme settings
- Sufficient predictability of future unit supply volumes and prices to build confidence and drive low-emissions investment in line with targets
- An effective framework and process to enable future pricing of biogenic agricultural emissions
- Strong safeguards for market integrity
- Cross-party support for the core architecture and decision-making processes.