The Herald is predicting that Russel Norman will today at the Green Party conference announce a new climate change policy, one that possibly involves the proposed scrapping of the Emissions Trading Scheme.
The Green Party are losing hope in the Emissions Trading Scheme, saying it has become a game for speculators, and may propose radical changes or even scrap it if elected this year.
Co-leader Russel Norman is expected to unveil new climate change policy at the party’s annual conference tomorrow.
The party foreshadowed their new policy with a series of attacks on the ETS in the House this week.
Dr Norman said the scheme, which was designed to reduce New Zealand companies’ carbon emissions, had now become a source of profit for big emitters.
It seems clear that the scheme, or at least the watered down and neutered scheme that National has given the country, is not working. Projected emissions of greenhouse gasses will be double 1990 levels by 2030. They are meant to be going down, not up.
The latest area of concern involves the Government moving to prevent foresters from receiving more expensive locally sourced carbon credits, selling them on, and then meeting their obligations by purchasing cheaper foreign sourced carbon credits. At one level this is understandable but power companies and other heavy emitters do not have the same obligation and are free to profit at the Government’s largesse. Double standard anyone?
Norman is right in that there needs to be a fundamental rethink on how we handle greenhouse gas emissions. Because the current system is not working.