| Cheap imported carbon credits comprised 99.5 per cent of the units New Zealand emitters used to meet their obligations under the emissions trading scheme last year, Environmental Protection Agency figures released yesterday show.
Just under 91 per cent of the units surrendered by emitters were emissions reduction units (ERUs) created under the Kyoto Protocol. They represent emission cuts in former Soviet bloc countries that their governments certify arise from projects and investments which would not have occurred had they not given rise to these tradeable credits...............................................Full Article: Source
|