| New Zealand greenhouse gas emitters have been meeting their obligations under the emissions trading scheme with thoroughly debased coin. The Environmental Protection Agency reports that 74 per cent of the emission reduction units (ERUs) surrendered to the Government to balance last year's emissions were imported carbon credits generated by the "joint implementation" provisions of the Kyoto Protocol.
In 2013 they formed 91 per centof units surrendered; in 2012 it was 70 per cent. The integrity of these units has long been questioned. A new and painstaking study by the Stockholm Environment Institute, commissioned by the Austrian, Finnish and Swiss governments, confirms those doubts...............................................Full Article: Source
|