New Zealand and the Kyoto Protocol : implications of ratification for New Zealand and rural land users

The objectives of this report are to examine the position of New Zealand in regard to the Kyoto Protocol and the possible impacts of the Protocol on New Zealand rural land users. The world initiatives leading to the development of the Protocol in an attempt to reduce anthroprogenic climate change, and the commitment required from New Zealand, assuming ratification, are examined. The characteristics of New Zealand’s greenhouse gas profile are discussed and our carbon sinks/emissions equation outlined to show that, due to the large-scale forest plantings since 1990, New Zealand will be able to meet its Protocol commitments in 2008-2012 with a substantial surplus available for international trading. The possible monetary values to New Zealand and to rural carbon emitting and sink activities are outlined. The report concludes that the application of the cost of emissions and value of carbon sinks to the causal activities via a carbon charge and an unfettered trading of carbon credits regime based on international values will best allow price signals to develop which will influence behaviour and reduce net greenhouse gas emissions.