Australian Financial Review
Wednesday 9/5/2007 Page: 12
New Zealand Energy Minister David Parker yesterday announced a system to limit greenhouse gas emissions and enable trading of surplus entitlements would be developed in the next three months, with the possibility the country's power producers and major industries could have emissions capped by next year.
New Zealand is a signatory to the Kyoto Protocol. New Zealand's emissions rose 24.7 per cent from 1990 to 2005 as economic growth increased energy and transport use and tree-planting decreased due to a fall in forestry earnings. About 80 per cent of NZ's emissions come from about 15 companies, including dairy exporter Fonterra Cooperative Group and Rio Tinto's Tiwai Point aluminium smelter. Mr Parker said emissions trading would probably involve fewer than 100 companies.
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