New Zealand urged to delay carbon trading scheme

The New Zealand government is being urged by the New Zealand Institute, a privately financed think tank, to delay its proposed carbon emissions trading scheme. The institute’s CEO David Skilling said the nature of New Zealand’s highly emissions-intensive economy means the government should wait and see what other countries do first. Institute members include Stephen Tindall, founder of The Warehouse, Rob Fyfe, CEO of Air New Zealand, and Don Elder, CEO of Solid Energy, among others. The Treasury estimates that the carbon emissions trading proposal could cost NZ$700 million (US$530.5 million). (October 24, 2007)