Low-emission investment and ETS reform

Our ETS needs
predictable processes
with safeguards for price.

This was the third of four roundtables bringing together diverse experts from New Zealand and overseas to shed new light on particularly thorny questions for New Zealand’s low-emission transition. You can download a summary of the roundtable discussion to the right.

Enabling low-emission investment: ETS reform and other tools began with a keynote address by Geoffrey Heal, Columbia University (video or slideshow). From there, participants looked at the following thorny questions:

• Is a price band (price ceiling and price floor) in the NZ ETS going to help your sector achieve a shift towards low-emissions?
• Of the key changes we need for a low-emission future, which cannot be achieved by an emission price alone, and what else will be required to facilitate good long-term low-emissions investments in the private sector?
• What is one key change that your sector needs for a low-emission future?
• How can New Zealand mobilise finance for low-emission transformation?
• How can the government manage the delivery risks from contracting for international emission reductions?
• How should government limit use of international emission units by ETS participants?
• Is ETS linking (one-way or two-way) a realistic prospect for New Zealand? 

Participation in this roundtable was by invitation only and included experts and decision makers from government, business, research, and civil society organisations. Discussions involving panellists and audience members were held under the spirit of the Chatham House Rule, where participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s) may be revealed. However, individuals may choose to disclose publicly their own participation in the roundtable and contribution to the discussions.

What: E-Mission Possible Roundtable: Enabling low-emission investment: ETS reform and other tools

When: 8:00am-12:45pm, 14 February 2018

Where: Lecture theatre RHLT3, Ground Floor, Rutherford House, Victoria University, Wellington

RSVP: Using the registration link from your invitation letter. If you have any questions, contact e-mission@confer.co.nz

 Agenda

Session 3A: ETS reform for low-emission investment

8:30 – 8:45 Welcome by the project partners. 

8:45 – 9:15 Keynote address: Geoffrey Heal, Columbia University on “Policy choices and GHG mitigation,” followed by a Q&A. Slideshow or video available.

9:15 – 9:35 Motu presentation on reforming the NZ ETS by Catherine Leining (slideshow or video).

9:35 – 10:05 Panellists (Julian McCree, Stuart Frazer, Whaimutu Dewes, Gerri Ward, and Mark Orlowski) respond to questions: 

1. Is a price band (price ceiling and price floor) in the NZ ETS going to help your sector achieve a shift towards low emissions?
2. Of the key changes we need for a low-emission future, which cannot be achieved by an emission price alone, and what else will be required to facilitate good long-term low-emission investments in the private sector?
3. What is one key change that your sector needs for a low-emission future?
4. How can New Zealand mobilise finance for low-emission transformation?

10:05 – 10:30 Discussion with the audience and panelists

10:30 – 11:00 Morning tea

Session 3B: New Zealand’s international contribution

11:00 – 11:20 Motu presentation on “climate teams” by Suzi Kerr (slideshow or video).

11:20 – 11:50 Panellists (Peter Cramton, Michael Barbara, Hayden Montgomery, and Lisa Daniell) respond to questions: 

1. What criteria should apply to international emission reductions that count toward New Zealand’s targets?
2. How can the government manage the delivery risks from contracting for international emission reductions?
3. How should government limit use of international emission units by ETS participants?
4. Is ETS linking (one-way or two-way) a realistic prospect for New Zealand?

11:50 – 12:15 Discussion with the audience and panelists

12:15 – 12:45 Closing remarks: Key points and questions to carry forward to future roundtables