Greenhouse gas emissions trading in New Zealand

Abstract

"Emissions trading schemes for the regulation of GHG emissions have captured much attention in the United States and in many other countries. New Zealand’s national scheme is arguably the most ambitious in the world to date. It takes a pioneering approach to coverage, linkage into the international markets, allocation of emissions units, and speed of implementation. In a world-first, it covers both the agriculture and forestry sectors. This Article describes the New Zealand scheme in its context and analyzes its advantages and pitfalls. It also investigates the broader implications of the New Zealand example as a model for climate change regulation elsewhere." (p. 1)