Catch up on the latest Emissions Trading Scheme news from the Environmental Protection Authority No images? Click here Kia oraWelcome to the Environmental Protection Authority’s (EPA) regular update of news, decisions, and consultations about the Emissions Trading Scheme (ETS). Key dates
ETS account openingsThis year has seen a significant increase in account openings in the ETS – mainly driven by forestry timeframes. During the first five months of the year, we opened 1,138 accounts, which is six times as many accounts as the same period last year. Whilst the number of openings has slowed down, we appreciate your patience as we process these as quickly as possible. Industrial allocationsIf you received a provisional allocation in 2022 and subsequently cease production you must submit a Closing Allocation Application, and repay any applicable units to the EPA within 20 working days of ceasing the activity. Failure to do so may result in fines and penalties. If you have any questions you can email us at emissionstrading@epa.govt.nz or phone 0800 254 628. Keeping up with the ETSThe ETS has changed. If your business is involved in the ETS, you need to meet certain obligations to avoid facing significant new penalties which came into effect in January 2021. Since new infringement regulations came into effect in January 2022, you may now also face an infringement fee or fine if you commit an infringement offence. To avoid being subject to potential infringement fees or fines, you need to remember to: · keep contact details in the Register up to date · understand the Register’s roles and what is required to get returns and obligations in on time · prepare Annual Emissions Returns (AERs) in advance of deadlines · keep good records, provide information if requested, and voluntarily let the EPA know if you have made a mistake. Consultation on changes to the ETS The Ministry for the Environment has finished consulting on the proposed changes to a number of ETS regulations. The next steps are for the options to be considered by the Minister of Climate Change and Cabinet. Any changes to the regulations are likely to come into effect from 1 January 2023. Further information Contact us at emissionstrading@epa.govt.nz If you have questions related to forestry, contact MPI at climatechange@mpi.govt.nz or phone or 0800 254 628 (option 2, followed by option 1). Climate Change Response (Emissions Trading Reform) Amendment Act 2020 |