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Farmers in US and NZ getting more nervous about ETS.

- Wednesday, July 29, 2009

Farmers in both New Zealand and the USA are getting more concerned about the possible impact of their respective climate change policy proposals on the farm sector. New Zealand farmers are reacting to a recent statement by NZ Climate Change Minister Nick Smith that farming will have to be in the ETS, while US farmers are worried the promised money from carbon offsets might never eventuate.


New Zealand farmers are worried about the potential for a ambitious New Zealand 2020 emission reduction target arising out of current consultation processes that are occurring in New Zealand. Given that agriculture is 50% of New Zealand emissions, farmers there have a pretty good idea what sectors of the economy will need to do most if a big reduction target is set.


Meanwhile, in the USA critics are complaining that the recently released USDA analysis of the impacts of the US climate legislation did not contain detail to justify the rosy projections of a significant new revenue stream for farmers from emission offsets. Perhaps if they looked at ETS proposals in Australia and New Zealand, US farmers might realise they have nothing to be worried about!

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