New Zealand Legislation: Bills

5 Purpose

• Section 3 is amended by repealing subsection (1) and substituting the following subsection:

  • “(1) The purpose of this Act is to—

    • “(a) enable New Zealand to meet its international obligations under the Convention and the Protocol, including (but not limited to)—

      • “(i) its obligation under Article 3.1 of the Protocol to retire Kyoto units equal to the number of tonnes of carbon dioxide equivalent of human-induced greenhouse gases emitted from the sources listed in Annex A of the Protocol in New Zealand in the first commitment period; and

      • “(ii) its obligation to report to the Conference of the Parties via the Secretariat under Article 7 of the Protocol and Article 12 of the Convention; and

    • “(b) provide for the implementation, operation, and administration of a greenhouse gas emissions trading scheme in New Zealand.”