Carbon News - Intelligence for the carbon market


Monday 24 Jun 19 12:00pm

Jeanette Fitzsimons … early warning

Ten years ago, Green Party co-leader Jeanette Fitzsimons was predicting the worthless-carbon-unit scandal that hit New Zealand in 2016.

More than a quarter of the credits New Zealand used to meet its first emissions reduction commitment under the Kyoto Protocol were so-called hot-air units and did not represent actual reductions in greenhouse gas emissions.

In June 2009, Fitzsimons warned that a flood of worthless Ukranian units was heading towards New Zealand and called on the National Government, which was reviewing the Emissions Trading Scheme, to put restrictions on the type of units coming into the country.

The ETS was passed into law in 2008 by the previous Labour Government, and restrictions on the type of units that could be used was a condition of the Greens’ support for it, Fitzsimons said. 
... login or subscribe for full story

Subscriber Content - You need to log in

To access this Carbon News information right now, please accept our 7 DAY FREE TRIAL subscription offer. Simply click the Subscribe button and follow the steps.

We send you a reminder before we charge your card or send an invoice before your FREE trial ends. We'll also remind you before we automatically renew your annual subscription. We will also ask you for updated credit card or invoicing information at this time, if necessary.

Please enjoy your 7 day FREE trial.


Latest in Ten years ago