Updating the new zealand emissions trading scheme speed dating brainstorming
New Zealand committed to limit emissions to 1990 levels on average over the first commitment period or to take responsibility for any emissions over this level.The end of the Kyoto true-up period on 18 November 2015 was the deadline for emission retirement.New Zealand is currently in discussions with a number of countries about potential cooperation opportunities.
Forest land is classified differently depending on when it was first established – pre-1990 and post-1989 forest land.
The Paris Agreement entered into force on 4 November 2016 and takes effect globally from 2020.
This means New Zealand’s mitigation commitments (its Nationally Determined Contribution) will apply from 2021.
Forestry is important in helping New Zealand meet its international climate change obligations.
By putting a price on greenhouse gases, the Emissions Trading Scheme (ETS) encourages landowners to establish and manage forests in a way that increases carbon storage.