<
https://theconversation.com/cop30-climate-law-changes-mean-nz-could-retreat-from-its-international-obligations-269087>
"As this year’s UN climate summit (COP30) gets underway in Belém, Brazil, the
New Zealand delegation will be attending beneath a cloud of scepticism about
the government’s seriousness in addressing carbon emissions.
In a late-night announcement last week, the government proposed changes to New
Zealand’s landmark climate law, including a decoupling of domestic efforts to
cut emissions from New Zealand’s pledge under the Paris Agreement.
Delinking the Emissions Trading Scheme – one of the few remaining policy tools
for cutting domestic emissions – from the country’s Paris Agreement pledge
constructs a pathway for the government to abandon its international
obligations, while remaining compliant with domestic law.
The retort from the market was immediate. The price of New Zealand carbon units
plummeted 10% once trading resumed on the morning after the announcement, and
crashed 18% by the end of the day.
Having earlier promised to “let the market do its work”, the government’s move
was described by
Carbon News as “a brutal blow to confidence in an already
moribund market”."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
