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The place for NZ oriented news releases on climate change and related energy policy.
Streamlined process for Negotiated Greenhouse Agreements good for business
Negotiated Greenhouse Agreements are a key element of New Zealand's climate change policy and changes to provide a more streamlined process will benefit business, according to Ministry for the Environment Chief Executive Barry Carbon.
A Greenhouse Agreement is a binding agreement between a firm and the government that commits the firm to moving to world's best practice in managing greenhouse gas emissions.
In return, the government provides a full or partial exemption from the carbon tax that is to be introduced by 2008. NGAs are limited to firms or industries that, as a result of the carbon tax, face significant risk to their competitiveness relative to producers in countries with less stringent climate change policies.
Mr Carbon said the review of the NGA process was initiated by the government and will make it easier to negotiate agreements."
To help firms and industries to understand their eligibility and the benefits of the NGAs, the Ministry for the Environment's Climate Change Office is holding a series of briefings to be held:
Friday 29 April, 1.30pm - 4.00pm, PricewaterhouseCoopers, PWC Tower, Level 22, 188 Quay Street, Auckland
Monday 2 May, 3.00pm - 5.00pm, Conference Rooms 1 & 2, Town Hall, 86 Kilmore Street, Christchurch
Tuesday 3 May, 2.00pm - 4.00pm, Square Affair Suite, Wellington Town Hall, Civic Square, Wellington
Negotiated Greenhouse Agreements are a key element of New Zealand's climate change policy and changes to provide a more streamlined process will benefit business, according to Ministry for the Environment Chief Executive Barry Carbon.
A Greenhouse Agreement is a binding agreement between a firm and the government that commits the firm to moving to world's best practice in managing greenhouse gas emissions.
In return, the government provides a full or partial exemption from the carbon tax that is to be introduced by 2008. NGAs are limited to firms or industries that, as a result of the carbon tax, face significant risk to their competitiveness relative to producers in countries with less stringent climate change policies.
Mr Carbon said the review of the NGA process was initiated by the government and will make it easier to negotiate agreements."
To help firms and industries to understand their eligibility and the benefits of the NGAs, the Ministry for the Environment's Climate Change Office is holding a series of briefings to be held:
Friday 29 April, 1.30pm - 4.00pm, PricewaterhouseCoopers, PWC Tower, Level 22, 188 Quay Street, Auckland
Monday 2 May, 3.00pm - 5.00pm, Conference Rooms 1 & 2, Town Hall, 86 Kilmore Street, Christchurch
Tuesday 3 May, 2.00pm - 4.00pm, Square Affair Suite, Wellington Town Hall, Civic Square, Wellington
Quality Planning Renewable Energy Guidance Note
Among other changes, the Resource Management (Energy and Climate Change) Amendment Act 2004 introduced a new matter into section 7 of Part II, requiring all persons exercising functions and powers under the Act in managing the use, development, and protection of natural and physical resources to have particular regard to the benefits to be derived from the use and development of renewable energy (section 7(j)).
The purpose of this Guidance Note is:
To promote a good level of understanding about renewable energy, particularly the different types of renewable energy and the range of benefits that may be derived from such sources; and
To encourage local authorities to consider the benefits of renewable energy, and promote consistency in how such benefits are recognised, both in decision-making and policy and plan development.
Among other changes, the Resource Management (Energy and Climate Change) Amendment Act 2004 introduced a new matter into section 7 of Part II, requiring all persons exercising functions and powers under the Act in managing the use, development, and protection of natural and physical resources to have particular regard to the benefits to be derived from the use and development of renewable energy (section 7(j)).
The purpose of this Guidance Note is:
To promote a good level of understanding about renewable energy, particularly the different types of renewable energy and the range of benefits that may be derived from such sources; and
To encourage local authorities to consider the benefits of renewable energy, and promote consistency in how such benefits are recognised, both in decision-making and policy and plan development.
AETF Seminar Notice
(held in collaboration with the CRC for Greenhouse Accounting)
Australian Business in a Kyoto World"
Wednesday 25 May, Melbourne Business School.
The Kyoto Protocol is adding a new dimension to global trading relationships. This one day seminar will deal with the challenges and opportunities arising for Australian business from the Kyoto Protocol. The program is attached and features authoritative presentations on:
Threats and opportunities
National policy issues
Trade partner implications - Japan, China
New Zealand - your friend in the Protocol
Issues for biosequestration
Business responses - resources, carbon farming, emissions trading
For more information and registration details go to AETF Seminar Notice
(held in collaboration with the CRC for Greenhouse Accounting)
"Australian Business in a Kyoto World"
Wednesday 25 May, Melbourne Business School.
The Kyoto Protocol is adding a new dimension to global trading relationships. This one day seminar will deal with the challenges and opportunities arising for Australian business from the Kyoto Protocol. The program is attached and features authoritative presentations on:
Threats and opportunities
National policy issues
Trade partner implications - Japan, China
New Zealand - your friend in the Protocol
Issues for biosequestration
Business responses - resources, carbon farming, emissions trading
For more information and registration details go to www.aetf.net.au and click on Events.
(held in collaboration with the CRC for Greenhouse Accounting)
Australian Business in a Kyoto World"
Wednesday 25 May, Melbourne Business School.
The Kyoto Protocol is adding a new dimension to global trading relationships. This one day seminar will deal with the challenges and opportunities arising for Australian business from the Kyoto Protocol. The program is attached and features authoritative presentations on:
Threats and opportunities
National policy issues
Trade partner implications - Japan, China
New Zealand - your friend in the Protocol
Issues for biosequestration
Business responses - resources, carbon farming, emissions trading
For more information and registration details go to AETF Seminar Notice
(held in collaboration with the CRC for Greenhouse Accounting)
"Australian Business in a Kyoto World"
Wednesday 25 May, Melbourne Business School.
The Kyoto Protocol is adding a new dimension to global trading relationships. This one day seminar will deal with the challenges and opportunities arising for Australian business from the Kyoto Protocol. The program is attached and features authoritative presentations on:
Threats and opportunities
National policy issues
Trade partner implications - Japan, China
New Zealand - your friend in the Protocol
Issues for biosequestration
Business responses - resources, carbon farming, emissions trading
For more information and registration details go to www.aetf.net.au and click on Events.
The Government has this morning announced the results of the review of the Negotiated Greenhouse Agreement (NGA) policy.
An NGA is a binding agreement between a firm and the government that commits the firm to moving to world's best practice in managing greenhouse gas emissions. In return, the government provides a full or partial exemption for the firm from the carbon tax that is to be introduced by 2008. NGAs are limited to firms or industries that, as a result of a carbon tax, face significant risk to their competitiveness relative to producers in countries with less stringent climate change policies.
The policy review was conducted by the Ministry of the Environment’s New Zealand Climate Change Office and puts in place a number of recommendations that will streamline the NGA process by reducing the time and cost of completing the agreements. A media statement, outlining the key changes is attached below.
We will be holding a series of briefings in different centres to update potential NGA participants and their advisers more fully on the revised NGA policy. The timings and venues for these briefings are confirmed as follows:
1.30pm - 4.00pm, Friday 29 April, PriceWaterhouseCoopers, PWC Tower, Level 22, 188 Quay Street, Auckland
3.00pm - 5.00pm, Monday 2 May, Conference Rooms 1 & 2, Town Hall, 86 Kilmore Street, , Christchurch
2.00pm - 4.00pm, Tuesday 3 May, Square Affair Suite, Wellington Town Hall, Civic Square, Wellington
As someone who has an interest in Negotiated Greenhouse Agreements, we would urge you to attend one of these important briefings.
Please register your interest in attending before Tuesday 26 April 2005 to:
Dinah Bunny
Direct Dial: (04) 916 7616
Email: dinah.bunny@mfe.govt.nz
An NGA is a binding agreement between a firm and the government that commits the firm to moving to world's best practice in managing greenhouse gas emissions. In return, the government provides a full or partial exemption for the firm from the carbon tax that is to be introduced by 2008. NGAs are limited to firms or industries that, as a result of a carbon tax, face significant risk to their competitiveness relative to producers in countries with less stringent climate change policies.
The policy review was conducted by the Ministry of the Environment’s New Zealand Climate Change Office and puts in place a number of recommendations that will streamline the NGA process by reducing the time and cost of completing the agreements. A media statement, outlining the key changes is attached below.
We will be holding a series of briefings in different centres to update potential NGA participants and their advisers more fully on the revised NGA policy. The timings and venues for these briefings are confirmed as follows:
1.30pm - 4.00pm, Friday 29 April, PriceWaterhouseCoopers, PWC Tower, Level 22, 188 Quay Street, Auckland
3.00pm - 5.00pm, Monday 2 May, Conference Rooms 1 & 2, Town Hall, 86 Kilmore Street, , Christchurch
2.00pm - 4.00pm, Tuesday 3 May, Square Affair Suite, Wellington Town Hall, Civic Square, Wellington
As someone who has an interest in Negotiated Greenhouse Agreements, we would urge you to attend one of these important briefings.
Please register your interest in attending before Tuesday 26 April 2005 to:
Dinah Bunny
Direct Dial: (04) 916 7616
Email: dinah.bunny@mfe.govt.nz
ANNUAL GENERAL MEETING & LUNCH SEMINAR
Energy Fedaration of New Zealand
With TREVOR MALLARD
Minister of Energy
Topic: “Government Programmes and Policies on Energy”
InterContinental Wellington
Corner Featherston & Grey Sts. Wellington
Thursday, 5th May 2005
Programme
11:30 AM - Registration
12 NN - Min. T. Mallard’s Presentation
Questions/Discussions
12:30 PM - Buffet Lunch
1:15 PM - Joint EFNZ Board Meeting & AGM
Cost: EFNZ Members - $40 (+ GST)
Non-Members - $60 (+ GST)
Registration: Cito Gazo (Fax: 04-570-3701 or Email: C.Gazo@crl.co.nz)
Energy Fedaration of New Zealand
With TREVOR MALLARD
Minister of Energy
Topic: “Government Programmes and Policies on Energy”
InterContinental Wellington
Corner Featherston & Grey Sts. Wellington
Thursday, 5th May 2005
Programme
11:30 AM - Registration
12 NN - Min. T. Mallard’s Presentation
Questions/Discussions
12:30 PM - Buffet Lunch
1:15 PM - Joint EFNZ Board Meeting & AGM
Cost: EFNZ Members - $40 (+ GST)
Non-Members - $60 (+ GST)
Registration: Cito Gazo (Fax: 04-570-3701 or Email: C.Gazo@crl.co.nz)
New package to drive efficiency and innovation
The government today announced a new package of measures to drive innovation within energy intensive small and medium size enterprises (SMEs).
'By employing simple no and low cost energy efficiency measures, most businesses should be able to more than offset the impact of the carbon tax that will be introduced from 2007. However some energy intensive businesses will need assistance to adjust,' says Convenor of the Ministerial Group on Climate Change, Pete Hodgson.
The centrepiece of the package is a grants scheme. Pilot projects will be undertaken with firms in energy intensive sectors from 1 July 2005. Selected firms will receive cash grants to assist them to introduce and demonstrate energy efficient technologies relevant to each sector. This will be backed with training and education initiatives. "
The government today announced a new package of measures to drive innovation within energy intensive small and medium size enterprises (SMEs).
'By employing simple no and low cost energy efficiency measures, most businesses should be able to more than offset the impact of the carbon tax that will be introduced from 2007. However some energy intensive businesses will need assistance to adjust,' says Convenor of the Ministerial Group on Climate Change, Pete Hodgson.
The centrepiece of the package is a grants scheme. Pilot projects will be undertaken with firms in energy intensive sectors from 1 July 2005. Selected firms will receive cash grants to assist them to introduce and demonstrate energy efficient technologies relevant to each sector. This will be backed with training and education initiatives. "
$300m windfarm proposed for Hawke's Bay
A $300 million wind farm with potential to power over 90,000 homes has been proposed for hill country northwest of Napier.
Hawke's Bay Wind Farm Ltd (HBWF) plans to lodge a resource consent application with the Hastings District Council next month for between 60 and 80 turbines near Te Pohue on the Napier-Taupo Road.
If the project goes ahead as proposed it would be bigger than any of the current wind farms in New Zealand.
Alistair Wilson, director of Wellington-based Wind Farm Developments ? an HBWF shareholder ? said in a statement up to 220MW of power could be generated by the turbines, helping meet a need for an increase in electricity and supply security in Hawke's Bay. "
A $300 million wind farm with potential to power over 90,000 homes has been proposed for hill country northwest of Napier.
Hawke's Bay Wind Farm Ltd (HBWF) plans to lodge a resource consent application with the Hastings District Council next month for between 60 and 80 turbines near Te Pohue on the Napier-Taupo Road.
If the project goes ahead as proposed it would be bigger than any of the current wind farms in New Zealand.
Alistair Wilson, director of Wellington-based Wind Farm Developments ? an HBWF shareholder ? said in a statement up to 220MW of power could be generated by the turbines, helping meet a need for an increase in electricity and supply security in Hawke's Bay. "
Energy Intensive Industries Package Release
In principal, the Chambers support today’s release announced by Minister Hodgson, in particular, the sentiment which seeks to reduce financial burden that is likely to impact businesses with the impending introduction of the carbon tax in 2007. Given that New Zealand is committed to the implementation of our Kyoto targets, it is encouraging to see that the Government is aware of the financial impact that these commitments will have on the SME sector, and that it is prepared to help them through this period. However, the Chambers do have some concern over the selective nature of the grants scheme which applies only to targeted sectors and companies, and await to see how other businesses and sectors excluded from this initial package fare in the post carbon tax environment.
Despite this welcome move from the Government, the Chambers wish to stress that it is imperative that alternatives or successor agreements to the Kyoto Protocol framework currently being implemented in New Zealand, continue to be explored now and into the future.
While it is increasingly accepted that action must be taken to address the level of CO2 emissions globally, this must be undertaken in a constructive manner with the support and backing of the private sector so as to deconstruct the “environment vs economy” model that has been legislated into the New Zealand business landscape through New Zealand’s Kyoto Protocol commitments.
In principal, the Chambers support today’s release announced by Minister Hodgson, in particular, the sentiment which seeks to reduce financial burden that is likely to impact businesses with the impending introduction of the carbon tax in 2007. Given that New Zealand is committed to the implementation of our Kyoto targets, it is encouraging to see that the Government is aware of the financial impact that these commitments will have on the SME sector, and that it is prepared to help them through this period. However, the Chambers do have some concern over the selective nature of the grants scheme which applies only to targeted sectors and companies, and await to see how other businesses and sectors excluded from this initial package fare in the post carbon tax environment.
Despite this welcome move from the Government, the Chambers wish to stress that it is imperative that alternatives or successor agreements to the Kyoto Protocol framework currently being implemented in New Zealand, continue to be explored now and into the future.
While it is increasingly accepted that action must be taken to address the level of CO2 emissions globally, this must be undertaken in a constructive manner with the support and backing of the private sector so as to deconstruct the “environment vs economy” model that has been legislated into the New Zealand business landscape through New Zealand’s Kyoto Protocol commitments.
5th Asia Pacific Conference on Sustainable Energy and Environmental Technologies
When:9 - 11 May, 2005 [Welcome Reception May 8]
Where: Wellington, New Zealand Venue: Te Papa
ENERGY WORKSHOP - the energy business of climate change
Wednesday 11 May 2005
Open to non APCSEET conference delegates for a nominal charge of $35.
The aim is to assist business managers, captains of industry, policy makers
and entrepreneurs to better:
* identify appropriate cost effective greenhouse gas emission reduction
options for New Zealand;
* develop innovative methods for reducing fossil fuel demand, greenhouse gas
emissions, water use, waste production and overall costs; and
* encourage the move towards more sustainable operations with minimal
environmental impact.
1.00 pm Welcome from Chair Professor Ralph E H Sims, Outline of workshop expectations.
Overview introduction Minimizing the $/tonne of carbon equivalent avoided
1.15 pm Keynote Speaker, Hans-Holger Rogner, International Atomic Energy
Authority, Geneva.
Nuclear energy - a climate change solution or a step towards global
catastrophe?
2.00 pm Dr George Hooper, Director, Centre for Advanced Engineering, Canterbury University.
Focus on energy supply security and demand side solutions
2.30 pm Scene setting panel: ³Climate change mitigation opportunities²
3.45 pm Contributions from delegates with responses from panel members.
5.00 pm Summary comments from panel members
* What efforts are needed to help NZ meet its Kyoto Protocol obligations?
* What energy systems do we invest in?
* Where do we go from here to make a transition away from fossil fuels?
When:9 - 11 May, 2005 [Welcome Reception May 8]
Where: Wellington, New Zealand Venue: Te Papa
ENERGY WORKSHOP - the energy business of climate change
Wednesday 11 May 2005
Open to non APCSEET conference delegates for a nominal charge of $35.
The aim is to assist business managers, captains of industry, policy makers
and entrepreneurs to better:
* identify appropriate cost effective greenhouse gas emission reduction
options for New Zealand;
* develop innovative methods for reducing fossil fuel demand, greenhouse gas
emissions, water use, waste production and overall costs; and
* encourage the move towards more sustainable operations with minimal
environmental impact.
1.00 pm Welcome from Chair Professor Ralph E H Sims, Outline of workshop expectations.
Overview introduction Minimizing the $/tonne of carbon equivalent avoided
1.15 pm Keynote Speaker, Hans-Holger Rogner, International Atomic Energy
Authority, Geneva.
Nuclear energy - a climate change solution or a step towards global
catastrophe?
2.00 pm Dr George Hooper, Director, Centre for Advanced Engineering, Canterbury University.
Focus on energy supply security and demand side solutions
2.30 pm Scene setting panel: ³Climate change mitigation opportunities²
3.45 pm Contributions from delegates with responses from panel members.
5.00 pm Summary comments from panel members
* What efforts are needed to help NZ meet its Kyoto Protocol obligations?
* What energy systems do we invest in?
* Where do we go from here to make a transition away from fossil fuels?
New IPCC report on Ozone / GHGs
(pdf download)
IPCC/TEAP SPECIAL REPORT:
SAFEGUARDING THE OZONE LAYER AND THE GLOBAL CLIMATE SYSTEM:
ISSUES RELATED TO HYDROFLUOROCARBONS AND PERFLUOROCARBONS
SUMMARY FOR POLICYMAKERS
(pdf download)
IPCC/TEAP SPECIAL REPORT:
SAFEGUARDING THE OZONE LAYER AND THE GLOBAL CLIMATE SYSTEM:
ISSUES RELATED TO HYDROFLUOROCARBONS AND PERFLUOROCARBONS
SUMMARY FOR POLICYMAKERS
Australia to lead the world on climate change
We need an effective global response to climate change and Australia has committed to playing a leadership role in this process, said Australian Environment Minister Ian Campbell.
This year signals the start of the international negotiations on how to deal with the issue of climate change in the post-Kyoto period after 2012. According to ENS, Australia wants to take the lead in brokering an agreement which would include both the United States and China.
Neither the US nor Australia have ratified the Kyoto Protocol, and China has made it clear that it will not take on any emissions reduction obligations after 2012 unless the US also does so. The EU recently announced that it would enter into the negotiations with a very ambitious target of seeking a 15-30 per cent emissions reduction from 1990 to 2020. Getting the US and Australia to agree to such a deal seems a bit on the difficult side."
We need an effective global response to climate change and Australia has committed to playing a leadership role in this process, said Australian Environment Minister Ian Campbell.
This year signals the start of the international negotiations on how to deal with the issue of climate change in the post-Kyoto period after 2012. According to ENS, Australia wants to take the lead in brokering an agreement which would include both the United States and China.
Neither the US nor Australia have ratified the Kyoto Protocol, and China has made it clear that it will not take on any emissions reduction obligations after 2012 unless the US also does so. The EU recently announced that it would enter into the negotiations with a very ambitious target of seeking a 15-30 per cent emissions reduction from 1990 to 2020. Getting the US and Australia to agree to such a deal seems a bit on the difficult side."
Kyoto not enough, says Hodgson
While the Kyoto Protocol is an 'astonishing' first step in the bid to reduce greenhouse gases, it won't be enough, New Zealand cabinet minister Pete Hodgson said yesterday.
He was in Sydney to discuss with the Australian government and industry leaders from both countries new ways of dealing with climate change.
While the two trans-Tasman countries have opposing views on the protocol, with New Zealand signing it and Australia opting out, they are both part of a push for a further international effort to tackle the greenhouse gas emissions.
What is being loosely proposed is a move away from the binding greenhouse gas reduction targets towards voluntary emission reductions for industry. "
While the Kyoto Protocol is an 'astonishing' first step in the bid to reduce greenhouse gases, it won't be enough, New Zealand cabinet minister Pete Hodgson said yesterday.
He was in Sydney to discuss with the Australian government and industry leaders from both countries new ways of dealing with climate change.
While the two trans-Tasman countries have opposing views on the protocol, with New Zealand signing it and Australia opting out, they are both part of a push for a further international effort to tackle the greenhouse gas emissions.
What is being loosely proposed is a move away from the binding greenhouse gas reduction targets towards voluntary emission reductions for industry. "
Foreshore, bay off limits after rain
Picton's foreshore, Shelley Beach and Waikawa Bay will be off limits to swimmers and shellfish gatherers after Wednesday's rain caused overloading to the sewer system at a number of points.
Council operations and maintenance engineer Steve Rooney said the areas would be unsuitable for bathing or the collection of shellfish until at least Monday next week.
Mr Rooney said two or three properties had been affected by overflow in the Buller and Devon St area. Council staff were working today to clean up these properties.
The sewer system became overloaded due to the inflow of stormwater, causing sewage to overflow at a number of points throughout the network. Overflows had occurred at control points, which reduced their overall impact, said Mr Rooney. "
Picton's foreshore, Shelley Beach and Waikawa Bay will be off limits to swimmers and shellfish gatherers after Wednesday's rain caused overloading to the sewer system at a number of points.
Council operations and maintenance engineer Steve Rooney said the areas would be unsuitable for bathing or the collection of shellfish until at least Monday next week.
Mr Rooney said two or three properties had been affected by overflow in the Buller and Devon St area. Council staff were working today to clean up these properties.
The sewer system became overloaded due to the inflow of stormwater, causing sewage to overflow at a number of points throughout the network. Overflows had occurred at control points, which reduced their overall impact, said Mr Rooney. "
Clean water plan for dairy cows makes progress
Progress is being made on a project to stop Rai Valley dairy cows passing through stream crossings on their way to and from milking ? a serious factor in reducing the effects of 'dirty dairying'.
An update prepared by Marlborough District Council resource management officer Joanne Smart, has been presented to the council environment committee.
A total of 41 of the 110 stream crossings in the Rai River catchment ? between Picton and Havelock ? have been eliminated since the March 2003 survey.
Of the 40 or so high priority crossings, 20 have been eliminated.
Ms Smart said this represented excellent progress by Rai Valley farmers. "
Progress is being made on a project to stop Rai Valley dairy cows passing through stream crossings on their way to and from milking ? a serious factor in reducing the effects of 'dirty dairying'.
An update prepared by Marlborough District Council resource management officer Joanne Smart, has been presented to the council environment committee.
A total of 41 of the 110 stream crossings in the Rai River catchment ? between Picton and Havelock ? have been eliminated since the March 2003 survey.
Of the 40 or so high priority crossings, 20 have been eliminated.
Ms Smart said this represented excellent progress by Rai Valley farmers. "
Energy players eye NZ wind farm deal
New Zealand's big energy players and Australia's Prime Infrastructure are eyeing a wind farm deal with Palmerston North City Council.
If a deal is struck it will be the fourth consented wind farm in the area, making the Tararuas indisputably the wind farm capital of New Zealand.
The interest in the council's proposal highlights the increasing interest in wind farm development in New Zealand, from not only energy players but also entrepreneurs.
A local energy consultant said last week that two Australian power players were examining the economics of power plant development in New Zealand."
New Zealand's big energy players and Australia's Prime Infrastructure are eyeing a wind farm deal with Palmerston North City Council.
If a deal is struck it will be the fourth consented wind farm in the area, making the Tararuas indisputably the wind farm capital of New Zealand.
The interest in the council's proposal highlights the increasing interest in wind farm development in New Zealand, from not only energy players but also entrepreneurs.
A local energy consultant said last week that two Australian power players were examining the economics of power plant development in New Zealand."
Australian states agree to cap and trade GHG emissions
State and territory governments in Australia have made the decision to develop a nationwide emissions trading scheme, despite lack of support from the federal government.
Victoria and New South Wales have been the main drivers behind the agreement, which states that greenhouse gas emissions should be capped and permits traded. The final design of the scheme has not yet been worked out, however.
'This is a pragmatic and cost-effective plan that will reduce Australia's greenhouse emissions,? NSW Premier Bob carr said according to AAP.
'Today's agreement lays the basis for an economically sustainable way for big business to reduce greenhouse gas emissions.?"
State and territory governments in Australia have made the decision to develop a nationwide emissions trading scheme, despite lack of support from the federal government.
Victoria and New South Wales have been the main drivers behind the agreement, which states that greenhouse gas emissions should be capped and permits traded. The final design of the scheme has not yet been worked out, however.
'This is a pragmatic and cost-effective plan that will reduce Australia's greenhouse emissions,? NSW Premier Bob carr said according to AAP.
'Today's agreement lays the basis for an economically sustainable way for big business to reduce greenhouse gas emissions.?"
