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Cost of Carbon Units Revealed

An article that appeared today under Isobel Ewing's byline in Newshub reveals that the cost to our economy for carbon units that we will be required to purchase under the Paris Agreement targets will be $1.4 billion every year for ten years, and beyond.

"In documents released under the Official Information Act, a briefing to Judith Collins on her first day as energy minister says the cost to the economy of buying international carbon units to offset our own emissions will be $14.2 billion over ten years"

Green's Co-leader James Shaw reminds us that our Government has always claimed that it is too costly for us to reduce greenhouse emissions, but that they have failed up until now to reveal this incredible cost. Meanwhile Government fails to take any action to reverse climate change, and is prepared to defiantly support new coal mines, and subsidise dubious irrigation schemes for sectoral benefit.

"Businesses reliant on carbon-intensive transport will be required to buy international credits to account for their emissions, while the government will wear the cost of buying credits for industries exempt from the Emissions Trading Scheme such as agriculture. (my bold)

New Zealand’s pledge under the Paris Agreement is to reduce emissions by 30 per cent below 2005 levels by 2030. Our domestic emissions are expected to increase overall by 2030."

Is it too much to hope that Government may review its commitment to farming to cover its carbon cost for ever, or may it finally get some balls, and make a stand against the farming lobby in the interests of overall equity. In the meantime this imposition is falling on every single taxpayer, and industrys like transport will be levied. It is really 'Alice in Wonderland' stuff. 

Scott Simpson's waffling at the Civic Centre meeting last Tuesday is cast in its true light by these revelations. I certainly cannot see him 'rocking the caucus boat.'




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Reader Comments (1)

This quote sums up perfectly what this mismanagement of climate change policy means for taxpayers...

"For the past nine years National has dragged its feet on climate change, gutting the ETS, letting farmers off the hook, and generally doing everything possible to avoid domestic emissions reductions. But now, the bill for that is coming due."

"$1.4 billion a year is just a tad under what we spend annually on police. Or it's twice what we spend on the courts, or three times what we spend on conservation. In policy terms, its paid parental leave, a massive state house-building program, or the elimination of child poverty. If you're on the right, it's your tax cuts. And National has effectively committed us to pissing this money away because when faced with the biggest policy challenge our government has ever seen, they protected established interests rather than the public."

"Obviously, the more we manage to reduce emissions, the less we will actually have to pay. A sensible government would be pushing that hard, making polluters pay to reduce public liability and effective subsidy for emissions. But on this issue, National simply isn't sensible."

May 23, 2017 | Unregistered Commenterlets

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