
In the first emissions trading to be introduced outside of Europe, the New Zealand government has just launched a cap and trade system to reduce its greenhouse gas emissions 10 and 20 percent below 1990 levels by 2020, UPI is reporting.
New Zealand imports most of its oil, but nearly half of the emissions are agricultural, due to the volume of exports from the isolated nation, and they have increased by 25 percent over the last 20 years.
Its nearest neighbor is Australia, but much of its trading is much further away, with the EU. New Zealand has long been a land of sheep farmers, and with an economy of only 4 some million people, has a very high carbon footprint in shipping its products to customers far overseas. When you factor in the carbon footprint of ocean transport, not just exporting, but also, importing, New Zealand is actually not as green as its reputation.
And now, with oil giants like Petrobras nosing around the island nation for an off-shore killing, the announcement is timely.







