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Emission Critical Issue 8: September 2009

Emissions Trading Scheme Review Committee Recommendations

After many months on the backburner, climate change policy and greenhouse gas emissions are now back in the media forefront, with the release of the recommendations of the Emissions Trading Scheme Review Committee.

Since the election in November 2008, there has been significant uncertainly around the future of the Scheme’s design.  As part of its confidence and supply agreement with Act, the Government agreed to review the ETS and the special Select Committee was established.  However, as no legislation was passed to delay or alter the Scheme whilst this review was in progress, the ETS remains in force.  

This Emission Critical gives a snapshot of the current state of play on emissions, outlines the major recommendations of the Committee, provides a perspective on the possible policy decisions still to be finalised, and suggests how businesses can get ready.

		Going green: Sustainable growth strategies This PricewaterhouseCoopers report is based on both a global on-line survey of technology industry executives conducted by the Economist Intelligence Unit and in-depth personal interviews with industry leaders and PwC subject matter professionals. There are two main drivers of sustainability movement in the technology industry, both economic rather than altruistic: the potential to increase revenue through the increasing demand for greener products and services and the desire to decrease expenditures by reducing energy consumption. The report also indicates that increasing sustainability will require collaboration all along the supply chain and that unique opportunities exist for both hardware and software companies.
		Getting the data right The survey "Getting the data right: A survey of information technology solutions to meet EU Emissions Trading Scheme requirements", outlines that simple compliance is no longer good enough and over time more and more advanced solutions are required for emissions monitoring and reporting.
		Emission Critical These issues of Emission Critical focuses on Climate Change issues and how they impact New Zealand businesses.
		Building Trust in Emissions Reporting This report highlights the key elements of a successful carbon trading regime, presents a new vision for compliance in emissions trading, and calls for global action to develop this important area.
		Carbon Value Robust carbon management – a framework to protect and enhance shareholder value in response to climate change
		Trouble-entry accounting - revisited Accounting for the EU Emissions Trading Scheme and Certified Emission Reductions - market survey and accounting guidance.
		PricewaterhouseCoopers Carbon Healthcheck How prepared are you to deal with the impact of today's climate change obligations on your business?

Articles of interest:

Climate Change Certainty Critical
Management Magazine, March 2007

Carbon tax is just the tip of the iceberg
The Independent