New Zealand's emissions trading scheme has been declared a success in a new report but will be reviewed to ensure it is compatible with Australia's new carbon tax.
The first report on the New Zealand ETS was released today, with Climate Change Minister Nick Smith declaring it had "performed to expectations".
The scheme, introduced in full last July, dictates a carbon price of $NZ12.50 ($10.04) per tonne of CO2 emissions, considerably lower than the $23 specified under Australia's newly announced plan, due to launch on July 1, 2012.
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