Contact welcomes moves towards emissions trading

24 April 2007

Contact welcomes moves towards emissions trading

The Government’s commitment to the development of a ‘cap and trade’ emission trading system is a step in the right direction, Contact Energy said today.

Contact Chief Executive David Baldwin said an emissions trading regime was the company’s preferred system for the reduction of greenhouse gas emissions.

“We’re very pleased that the Government is moving down the emissions trading track. It is Contact’s view that a market-based system which caps emissions and allows the trade in permits is most likely to drive the innovation and reduction in emissions that New Zealand seeks,” said Mr Baldwin.

“There seems to also be genuine political consensus emerging on the need for an emissions trading system which bodes well for the development of a robust and long-term regime.

“Emissions trading systems are also being adopted by other countries and New Zealand could play an important role in leading the development of a Pacific-based or Australasian emissions trading market.”

Mr Baldwin said he was particularly pleased that Government was prepared to look at an economy-wide emissions trading system.

“There are some industries such as the transport and electricity generation sectors which must take a lead in reducing emissions but, if we are serious about reducing greenhouse gases as far as possible then all sectors and individuals must play their part,” he said.

Mr Baldwin said Contact would look to participate fully in the development of an emissions trading system.

ENDS

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