Carbon News 8/12/14: NZ’s multi-billion carbon blowout

By Gareth Renowden 09/12/2014


We’re facing a $3b carbon crisis … and it could be worse

New Zealand has a $3 billion carbon headache looming – and Treasury says that’s the conservative estimate. Carbon emissions in the period 2021 to 2030 could cost the country as much as $52 billion. Official briefings to the incoming Government acknowledge that the costs of meeting emissions reductions targets after 2020 were likely to rise significantly because “our emissions are forecast to increase and carbon prices are likely to be higher”.

The country needs a carbon budget, says pressure group

A climate change lobby group is calling for a national carbon budget and legally binding emissions reduction targets. The Sustainability Council’s paper comes as it releases figures showing New Zealand is facing a carbon liability of between $3 billion and $52 billion by 2030. Drawing on Government documents and its own work, the research and advocacy trust paints a picture of a country running a creative carbon accounting process, in which carbon liabilities have been shunted off to a time when carbon prices are predicted to be much higher.

Groser has a cunning plan (but he won’t say what it is)

Climate Change Minister Tim Groser says New Zealand will “push the envelope” on post-2020 emissions reductions. But he still won’t say what that means. New Zealand has to announce its 2021-2030 emissions reduction target before the negotiations for a new international climate treaty in Paris late next year. Groser, who is now in Lima for UN climate talks, told TV’s The Nation at the weekend that the target didn’t have to be settled until the middle of next year.

Ocean heat drives surge to global warming record

It’s official, even though it won’t be conclusive for a few months yet: if present trends continue, 2014 will be one of the hottest years on record − and quite possibly the hottest of them all.

Investors back clean coke with close on $700,000

New Zealand clean-tech pioneer CarbonScape raised nearly $700,000 through its crowd-sourcing campaign.

Why our ‘silent ally’ soils are on the endangered list

The world is not paying enough attention to its soil – our silent ally – says the United Nations.

Outlook bright for UK’s solar power potential

Solar energy is sometimes dismissed as a fanciful idea with little to offer so far in such a cloudy country as the United Kingdom, but a new report says power from the sun could thrive in Britain in barely five years’ time − without the need for any subsidy.

It doesn’t take much to turn up the temperature

Start the car, turn on the gas under the kettle, shovel some coal on the fire. Each time that happens, another pulse of carbon dioxide is released into the atmosphere.

Australia should export more ideas and fewer greenhouse emissions

As climate negotiators meet at the US-China climate deal United Nations’ Lima summit, which comes hot on the heels of the landmark

Paper mill sets new benchmarks for best practice

Manufacturing benchmarks achieved by a rural South Australian factory are being shared and instituted across the world by global manufacturing giant Kimberly-Clark.

Environment projects win financial boost

A travelling caravan collecting environmental pledges, an inner-city school creating an ecological island, and a university study monitoring landslides are the 2014 recipients of the Canon Environmental Grants programme.

Lines company loves its electric cars

Auckland lines company Vector says its electric vehicles are proving to be immensely popular with staff.

On the web: ‘They say that in 30 years maybe Kiribati will disappear’

  • Adapting to a warmer climate could cost almost three times as much as thought, says UN report

  • German government approves €80 billion climate package
  • Local buddy scheme to help boost renewables and energy efficiency
  • Global emissions scheme talks renewed
  • Major new study confirms wind farms do not harm human health

Spot NZUs maintain recent highs

Spot NZUs closed Friday at $4.95 on volumes of just over 100,000 tonnes, a rise of 50 cents, OMFinancial reports.