Tackling Forestry & Agriculture Emissions in New Zealand’s New Carbon Market

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Summary

The combined emissions of the agriculture and forestry sectors make up about a quarter of global anthropogenic greenhouse gas emissions. However, the mitigation potential of these sectors remains largely untapped in the climate economy. They are not covered by the European Union Emissions Trading Scheme (EU ETS), which is by far the largest existing carbon market. Agriculture and forestry projects also make up less than 1% of expected emissions reductions from the offset mechanisms of the Kyoto Protocol, namely the Clean Development Mechanism and Joint Implementation.

In this context, this paper explains how New Zealand’s policy makers have designed certain market-based mechanisms to incentivise emissions reductions from forestry and agriculture activities via the New Zealand Emissions Trading Scheme, which began in 2008, and the Permanent Forest Sink Initiative. This paper provides a synthesis of the current state of mitigation policy for these two sectors and attempts to highlight successes, ongoing challenges, and proposed solutions. It concludes that although some important uncertainties remain, New Zealand’s approaches to treating agriculture and forestry emissions via market-based mechanisms may well prove to be successful policy experiments. These may yet prove to be a workable model for other nations to follow.
 

Category:
Measures | Analysis
Published:
Winter 2010
Location:
New Zealand

Site Entry Created by Policy Measures Admin on Dec 06, 2010

Reference This Source

Policymeasures.com (2018). Tackling Forestry & Agriculture Emissions in New Zealand’s New Carbon Market. Available:
www.policymeasures.com/resources/detail/tackling-forestry-agriculture-emissions-in-new-zealands-new-carbon-mar Last accessed: 17th November 2018

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