The Government has made key decisions to reward businesses that capture and store carbon through the Emissions Trading Scheme (ETS). Legislation is expected to be introduced this year in New Zealand. Carbon capture and storage is a process to remove carbon dioxide from waste gases and store it underground. Doing this safely and effectively can be a great tool to help New Zealand meet our emissions targets. Link to the announcement from the Minister of Climate Change below 👇
🍃What's the word on the (carbon) street? New Zealand Government has introduced a Carbon Capture, Utilisation, and Storage (CCUS) framework to support businesses in reducing carbon emissions by storing CO2 underground. This aligns with the Government's commitment to driving economic growth through electrification while reducing emissions. Businesses that capture and store CO2 also being rewarded through the Emissions Trading Scheme (ETS). In theory, the framework will ensure safe CO2 storage, supporting innovation, competitiveness, and attracting investment as part of our broader low-emissions economy. What are your thoughts for Aotearoa? 🍃 #PublicSector #CarbonCapture #ToituTogether Toitū Envirocare Uttam Singh Floray Ministry for the Environment | Manatū mō te Taiao