Scoop has an Ethical Paywall
Licence needed for work use Learn More

Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

NZ Emissions Trading Scheme

NZ Emissions Trading Scheme- 55% Obligations Covered By 'Dodgy' Ukraine/Russian Units

In August a study was published which cast into doubt the environmental integrity of carbon credits generated under the Kyoto Protocol Joint Implementation mechanism (JI). According to the Stockholm Environment Institute study almost 872 million Emission Reduction Units (ERUs) have been issued under JI, with the bulk of projects located in Ukraine, Russia, Poland and Germany.

The study concludes that almost 75% of ERUs are not linked to real greenhouse gas reductions, and there are 'significant environmental integrity concerns for over 80% of ERUs from Russia and Ukraine."

Official documents recently released by the Environmental Protection Authority to Carbon Forest Services reveal that 96.3 million ERUs have been used to meet surrender obligations in the NZ Emissions Trading Scheme since it started. Of this 95.3 million ERUs originated from Ukraine and Russia

The findings of the Stockholm study would suggest around 55% of emissions or 77 million tCO2 under the NZ ETS have been covered to date using questionable offsets with little environmental integrity.

The use of so many ERUs from Russia and Ukraine has serious implications for the NZ ETS and adds to ongoing concerns that the scheme has been a failure in achieving real greenhouse gas reductions.

ENDS

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.