Carbon trading: How to wreck the environment and the economy in two easy steps

-->Govt criticised for refusing second Kyoto stage

Conservation group WWF New Zealand says the Government has undermined its position in future climate change negotiations by refusing to sign up to phase two of the Kyoto Protocol.

Radio NZ,

10 November, 2012

New Zealand will instead make voluntary pledges under the Convention Framework.

This country will remain a full member of the Kyoto Protocol but will not face financial penalties if it goes above its emissions targets when the first commitment period finishes at the end of this year.

WWF New Zealand says the Government has shown it is not interested in reducing emissions at a time when efforts are underway to include all countries in a climate change regime that would begin after 2020.

Spokesperson Peter Hardstaff says New Zealand could be showing the rest of the world how to achieve a low carbon economy and a clean energy future.

Climate Change Minister Tim Groser says 85% of global carbon emissions come from countries that have not signed the protocol and the future is in the common space. He said the next step will be to set a formal target for New Zealand future emissions through to 2020.

The Kyoto Forestry Association says the Government has pulled the rug from under investors who have sunk many millions of dollars into forestry on the basis that it was earning carbon credits and the result will be deforestation on a large scale.

The Government's move breaks ranks with Australia, but aligns New Zealand with other major economies such as the United States, Japan, China, India and Russia.