Hon Dr Nick Smith
Minister for Climate Change Issues
23 December 2010
Govt announces ETS Review
Climate Change Issues Minister Nick Smith today announced the panel and terms of reference for the review into the
emissions trading scheme to ensure it is meeting its purpose of reducing emissions at least possible cost and that New
Zealand is appropriately pacing itself on climate change relative to its key trading partners.
“All the international evidence confirms that pricing emissions is the most efficient way of addressing climate change.
This review is not about whether we have an ETS or not, but about the important operational detail and the pace of its
implementation to strike the right balance between New Zealand’s economic and environmental goals,” Dr Smith said.
“The review is to be chaired by David Caygill who brings a huge amount of public policy experience as a former finance
minister, trade and industry minister and Chair of the Electricity Commission.”
Other members of the panel include:
Julia Hoare, a chartered accountant at PricewaterhouseCoopers specialising in carbon markets, and an adviser to the
special select committee on the ETS
Chris Karamea Insley, a company director with specialist knowledge of forestry, a Scion board member, with tikanga
Maori knowledge, fishing interests and a sound understanding of the Treaty of Waitangi
Tom Lambie, a dairy farmer and former President of Federated Farmers and currently Chancellor of Lincoln University
David Russell, former Chief Executive of the Consumers Institute
Geoff Thompson, a lawyer and consultant at Duncan Cotterill, with specialist knowledge of forestry aspects of the ETS
Dr John Wood, Pro-Chancellor of the University of Canterbury, former Ambassador to United States, Japan, Germany and
Iran, and now a small scale sheep and beef farmer.
“The ETS review team will be providing the opportunity for public submissions,” Dr Smith said.
“I have also consulted with Australian Climate Change Minister Greg Combet on interactions between Australia’s Multi
Party Committee on Climate Change and the ETS Review Group. We remain of the view that a close relationship between New
Zealand and Australia on climate change policy continues to make sense for both countries.
“New Zealand’s climate change policy is in good shape with our ETS up and running, new investment occurring in forestry
and renewable energy, and complementary programmes delivering record numbers of insulated houses and solar water heating
systems. However, we need to keep a close eye on international developments and how the ETS is working in New Zealand to
ensure we keep doing our fair share on climate change at least cost to consumers and businesses.”