New Zealand Prime Minister Helen Clark Tuesday released new projections of New Zealand's Kyoto liability, showing the provisional net position is projected to be a deficit of 21.7 million units during the first commitment period of the Kyoto Protocol (2008-2012).
It is a drop of 52 percent compared with the projected deficit in May 2007 of 45.5 million units. This means the liability halves from 1 billion NZ dollars (786 million U.S. dollars) to 481.6 million NZ dollars.
"A range of factors is leading to the projected lower deficit. The impact of the Emissions Trading Scheme (ETS), the investment in renewable energy and sustainable transport modes, combined with slower growth and the effect of rising oil prices on fuel consumption are all having an impact," Clark said in a statement.
"This gives more scope for flexibility around the phasing in of the Emissions Trading Scheme," she added. "These changes will lessen the burden on businesses and households which have been facing steeply rising fuel costs."
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article