CLASSIFICATION
Approval to lodge: NZ ETS settings and Technical
regulatory updates Cabinet papers
Key messages
1.
This briefing seeks your approval to lodge the attached Cabinet papers:
•
Cabinet paper: NZ ETS unit limits and price control settings for 2025-2029 (attached
as
Appendix One, with the tracked version attached as Appendix Two); and
•
Cabinet paper: New Zealand Emissions Trading Scheme Technical Updates 2024
(attached as
Appendix Three).
2.
We have made minor changes to the NZ ETS settings Cabinet paper, based largely on
feedback from your office, to further shorten the paper. We have also made changes to
reflect comments from the Minister of Finance and the Crown Law Office received during
Ministerial consultation.
3.
A summary of substantive changes with corresponding feedback is attached as
Appendix Five. We have also attached the Regulatory Impact Statement for the NZ
ETS settings Cabinet paper, as
Appendix Four.
4.
No changes have been made to the ETS technical updates draft Cabinet paper since the
paper was sent out for Ministerial consultation.
5.
We seek your approval to lodge these two Cabinet papers by 10 am, 8 August, subject
to addressing any further feedback, for Cabinet Business Committee (CBC)
consideration on 12 August.
6.
We will provide suggested talking points and Q+As to your office by Friday this week to
support your discussion at CBC.
BRF-5151
2
CLASSIFICATION
CLASSIFICATION
Recommendations
We recommend that you:
a.
approve to lodge the two Cabinet papers, attached as Appendix One and Appendix
Three, subject to addressing any further feedback by 10 am, Thursday 8 August for
Cabinet Business Committee meeting on 12 August.
Yes | No
Signatures
Mark Vink
Hon Simon WATTS
General Manager, Markets Unit
Minister of Climate Change
Climate Change Mitigation and
Resource Efficiency
Date
7 August 2024
BRF-5151
3
CLASSIFICATION
