-
Related
Plans to set up a carbon trading market in New Zealand are being welcomed.
Some of New Zealand's biggest companies, including the New Zealand Stock Exchange, Air New Zealand, Infratil and Fonterra, have announced ambitious plans for a local "Green Wall Street". The plan is to trade "carbon credits" to help reduce greenhouse gases .
Business correspondent Roger Kerr is applauding the move. He says it is better for the private sector to take the initiative, rather than let government bureaucrats run the market.
The New Zealand Business Council for Sustainable Development says the proposal has to be welcomed and New Zealand should move quickly to set up carbon trading market.
Council CEO Peter Nielsen says a trading scheme should be launched sooner rather than later.
"NZX should be congratulated on its work looking at what's required to make a market work in New Zealand. We welcome the fact they are talking about a market which links to international prices, builds on existing emissions definitions and verification procedures and recognises the value of creating a forward market in emission credits to help businesses plan for the future," says Neilsen.
He says it is now a matter of how quickly the government will move.
