The Green Party has just announced that it will support the government’s proposed emissions trading scheme, because “the substantial changes we have won to the ETS justify voting for it”, according to leader Jeanette Fitzsimons. The changes include a “billion dollar” fund from ETS revenues to improve home insulation and heating, new rules on credits for firms established to use new low-carbon technologies, and some improvements on agriculture and biodiversity protection.
“A target for agricultural emissions reduction before 2013 will be gazetted along with other targets for emission reductions. Government has also agreed that there will be investment in a range of technologies and practices which can reduce agricultural emissions, particularly nitrous oxide. These will include not just nitrification inhibitors but also low input farming which can be just as profitable; biogas plants to convert manure to energy; and methods to control soil damage in wet conditions such as herd homes and stand off pads.”
No news yet from NZ First, but Greenpeace were (predictably) pleased with the decision.
[Update 27/8: NZ First has announced that it will support the ETS legislation.]
[Update 29/8: The ETS has begun its passage through Parliament.]