NZ will have new climate law next year: leader
AP - Tuesday, December 2
WELLINGTON, New Zealand - New Zealand will introduce a new emissions trading scheme before next year and remains committed to helping combat climate change, Prime Minister John Key said Monday.
An amended version of New Zealand's emissions trading system _ the first carbon cap-and-trade scheme outside Europe _ will be in place by 2010, Key told reporters after a Cabinet meeting on the issue. Key's government froze the scheme when it took office Nov. 8.
Key has voiced concerns that New Zealand's promise to cut greenhouse gases under the 1990 Kyoto Protocol to slow climate change is unrealistic because it centers around emissions produced by industry and does not recognize the difficulty in reducing greenhouse gases from the agricultural sector _ the source of half the Pacific nation's total emissions.
"We don't have technological solutions for most part in that area," he said of reducing farming emissions.
The announcement comes ahead of international talks beginning this week in Poland on a new agreement to replace the Kyoto Protocol.
The Kyoto Protocol obliged 37 industrial countries to slash carbon emissions below 1990 levels by an average 5 percent by 2012. A 2007 report said New Zealand's emissions had increased by 25 percent since the protocol was agreed to.
"New Zealand will be meeting its obligations under the Kyoto Protocol," Key said, adding that the government will stand by its pre-election pledge to cut total emissions by 50 percent by 2050.
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