New Zealand businesses must start to plan for the consequences of climate change at board level this year, or they risk being caught out as proposed legislative change shakes up emissions trading.
A new report by law firm Bell Gully highlights proposed changes to the New Zealand Emissions Trading Scheme (ETS) which could mean businesses who have emissions obligations around climate change may, in the near future, start to find it harder and more costly to gain access to the units they need to do so. If these changes are accepted by the government, business leaders could also see unit prices rise sharply as availability reduces.
The Big Picture: Climate Change provides an analysis of the challenges that lie ahead for New Zealand businesses dealing with climate change risks. While much will depend on the response of the world's governments to address climate change, businesses will also play a critical role, and determine how New Zealand's ambitions legislation is translated into real world change.
Read more about what this means for the sector here.
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.