New Zealand has fast tracked climate change legislation to cap and
trade carbon emissions.
Trading of carbon credits will begin next year in what will be the
first national cap-and-trade scheme outside of Europe.
The cap and trade system is designed to act as a catalyst to bring
forward clean technology and to create incentives for climate-friendly
behavior and investments.
New Zealand aims to be "carbon neutral" in the total energy sector by
2040.
Neighboring Australia has yet to determine what scheme it will adopt.
The Climate Change (Emissions Trading and Renewable Preference) Bill
limits all sectors of the economy to the volume of allowable
greenhouse gas emissions. Companies that go over the limit are
required to buy credits from users that produced emissions below their
ceiling.
The bill includes all forestry and trans****t industries. Stationary
energy such as coal-fired power stations will have a one-year period
of grace to adjust and agricultural waste won't be included in the
emissions count until 2013.
Over half of New Zealand's power comes from hydro-electricity.
Agricultural emissions, such as methane from livestock, comprise about
half the country's total greenhouse gas emissions.
The State of the Planet
MIA FARROW ON GLOBAL WARMING AND WAR
http://www.youtube.com/watch?v=pvOV6sJfass
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