Debate on climate change and the emissions trading scheme is set to dominate Parliament today.
Following Question Time and probably an urgent debate on the release of the report into the Pike River Coal Mine disaster, MPs are scheduled to debate the committee stage of Climate Change Response (Emissions Trading and Other Matters) Amendment Bill.
This bill completed its second reading by 61 to 59 with National, ACT and United Future in support.
The bill water downs the emissions trading scheme (ETS) which is the main mechanism for New Zealand to meets its obligations under the Kyoto protocols.
Opposition parties strongly oppose the bill with Labour arguing it would reduce the ETS to no more than a “figleaf’’as it would not cover agriculture and was heavily subsidising polluters.
There is likely to be a great deal of debate about the regulations around the carbon market, which has collapsed in recent times due to the use of cheap international carbon units.
This has caused great concern in the forestry sector which invested heavily in planting trees partly due to their value in the carbon market.
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