New Zealand Businesses Line up for Gov't Climate-Management Program

New Zealand Businesses Line up for Gov't Climate-Management Program

Around 150 businesses, other organizations, and individuals have signed up for briefings at which they can learn more about how they can be awarded internationally tradable emissions units, or carbon credits, in return for taking action to reduce emissions of greenhouse gases. The briefings are being held in Christchurch, Auckland, and Wellington.

"This response, and the success of the earlier round, shows just how committed New Zealand businesses are to taking an innovative approach to preparing our economy for a carbon constrained future and doing their bit to protect our clean, green environment through tackling climate change," says Pete Hodgson, convenor of the Ministerial Group.

The New Zealand government, through its Climate Change Office, is offering up to six million units to successful applicants under the second round of the Projects to Reduce Emissions program. Four million credits were awarded to 15 projects under the first round of the program last year. These included wind farms, hydro-electricity schemes, bio-energy, and co-generation schemes.

Credits are awarded to projects that are successful in the tender round. These projects must be in addition to business as usual that would not go ahead without the awarding of units. The eligibility criteria for this round has been revised and tenders are invited from for any emissions saving projects in areas such as; agriculture, energy efficiency, transport and bio-energy as well as electricity production.

The briefings will cover the tender timeframe, the nature of the incentive being offered, eligibility and selection criteria, and how tenders will be evaluated.

The second projects tender will take place between late August and mid October with tender evaluation in November. Announcement of the result of the tender round should be made in early December.