04 September 2012

How fast over the cliff? a submission on the Climate Change Response (Emissions Trading and Other Matters) Amendment Bill

How fast shall we drive over the cliff

Following up from yesterday's post where I said the proposed amendments to the New Zealand Emissions Trading Scheme are as useful as arguing over what speed to go while driving over a cliff, I have written a very brief submission. I have submitted it via the Parliament website.

It was almost exactly the same as leaving a comment on a blog where there is an anti-bot security step. You know, where you read some letters on an image file and type them in a dialog box. So its pretty easy.

Also there's an option to upload a PDF or other document. So there is really no excuse not to let the Government know what you think of the NZETS.

Committee Secretariat
Finance and Expenditure Committee
Parliament Buildings
4 September 2012

Submission on the Climate Change Response (Emissions Trading and Other Matters) Amendment Bill

Dear Sir/Madam,

I oppose this bill. It weakens the existing very weak New Zealand Emissions Trading Scheme (NZETS) to the point of irrelevance.

I oppose the current design of the NZETS.

I oppose the NZETS because its fundamental design flaws make it completely ineffective in reducing New Zealand’s greenhouse gas emissions.

I submit that the design flaws are:

  • the use of unlimited international junk credits,
  • the indefinite delay in obligations for agriculture,
  • the lack of a cap,
  • the price ceiling with no price floor,
  • the lack of revenue recycling via the tax system to consumers, and
  • the excessive free allocation to industrial emitters such as NZ Aluminum Smelters Ltd.

I consider the NZETS should be replaced by a no-exceptions, no offsets, tax on greenhouse gas emissions with income compensation to citizens via the tax system.

Thank you
Yours faithfully,
Robin Johnson's Economics Web Page

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