New Zealand Tangos with Carbon Trading

WELLINGTON (Reuters) - New Zealand said on Thursday it would bring in carbon trading over the next six years as part of efforts to reduce greenhouse gas emissions, though admitted even these measures will not meet its Kyoto Protocol target.

A mandatory cap-and-trade emissions scheme and incentives for tree planting to reduce emissions, blamed for global warming, will progressively be introduced from next year, if the government can get the measures through a parliament that rejected a carbon tax two years ago.

“An emissions trading scheme will create an incentive for businesses and households to make decisions that are good for the environment, and will discourage actions that cause greenhouse gas emissions,” Finance Minister Michael Cullen and Climate Change Minister David Parker said in a joint statement.

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