Media releases

Business NZ congratulates organisers of NZ’s first carbon trading scheme The business sector is leading the way by setting up New Zealand’s first carbon trading scheme. Business NZ congratulates the companies involved in setting up the carbon registry and trading platform. Chief Executive Phil O’Reilly says the Marketplace Company (M-co) and TradeMe are showing leadership in responding to climate change with the new facility. “M-co has created our first carbon registry and TradeMe has established a low cost, user friendly, carbon trading platform. Meridian Energy has now provided the first listings of carbon credits - this diverse combination has seen the launch today of a carbon trading market in New Zealand. “The importance of the scheme lies in the fact that it is voluntary not regulated. A regulated scheme with emission caps and mandated credit allocations covering all sectors and all gases is a very complex undertaking. This is the reason Business NZ has been concerned about the rush to set up a regulated scheme –it must be done properly to get robust outcomes or businesses stand to lose significant value, as shown by recent difficulties with European trading systems. “This voluntary scheme will allow ordinary New Zealanders the opportunity to buy and sell carbon credits to suit their own needs, for example owners of forest blocks and organisations involved in projects to regenerate native bush will, subject to meeting certification standards, be able to place their carbon credit in the registry and if desired list them for sale on TradeMe. “This new market will support sustainability initiatives being undertaken by the Business NZ family. “M-co and TradeMe are to be congratulated on developing a robust process with integrity and we wish them every success.”