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Published on Oct 17, 2017
Summary haiku: It isn’t broken. / Brave politicians just need / to constrain units.
Video 4/7 The ETS market functions well now, but participants need to know for certain that the future domestic supply of units will decline as New Zealand moves toward a low-emissions economy. This requires limiting both the number of units that are auctioned and freely allocated by the government, and the number of overseas units that can be used in the system (if that becomes possible in the future). The ETS is currently cut off completely from overseas units. New Zealand can’t keep outsourcing all of our emission reductions; under the Paris Agreement, all countries need to stop pumping emissions into the atmosphere.