Tuesday, August 26, 2008

Climate change: the sane decision

So the Greens have taken a long hard look at their options, consulted their base, and decided to back the ETS. Good. It was IMHO the best decision to make, and the best long-term way of advancing their environmental goals. While an estimated 2% emissions reduction over CP1 doesn't sound impressive, it at least caps growth, and opens the door for much deeper cuts in the long-term.

Meanwhile, it seems they've also won further concessions from the government, including a billion dollar fund for domestic energy efficiency, a new Projects Mechanism, an agricultural target to give a clear steer to farmers, and investments in reducing emissions from fertiliser. his is all good stuff, which improves the scheme. And hopefully, they'll be able to use the electoral system and coalition negotiations to improve it more in future.

So, now we're just waiting on NZ First, and their support is even less certain than the Greens. But hopefully the Olds won't screw it up for us again...