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As a
signatory to the Kyoto Protocol, New Zealand (both the Government
and the private sector) is moving quickly to meet climate change
obligations and obtain “first mover” advantages. As a result, the Government’s draft
strategies for dealing with climate change and the impact the
associated costs of carbon emissions will be pivotal to future
regulatory, business and legal decisions.
We
have experience advising clients about numerous climate change
issues over a wide range of legal areas such as energy, property,
financial services, public law, Maori legal services and tax.
We
can advise you on the following:
The implementation of carbon sequestering, the Permanent
Forest Sink Initiative, the implications of deforestation and the
related agreements.
The
implications of the draft NZ Energy Strategy and the practical side
of the Government’s commitment to explore sustainable
technologies and electricity generation.
Transactions
relating to emissions and carbon trading on international and
domestic market trading platforms whether they are government
driven or private schemes, such as TZ1, New Zealand’s
regional carbon market.
The
purchase of carbon off-sets, including the nature of the off-sets
and the legal status of carbon reduction obligations.
The
taxation issues surrounding the buying, selling and creation of
carbon credits.
The marketing aspects of carbon reduction such as labeling
and advertising of “carbon neutral” or “low
carbon” products and ensuring compliance with the Fair Trading
Act and other legislation.
Trade
related issues and “food miles” issues.
The
flow-on from an increasingly “carbon aware” society and
how it will affect New Zealand’s
commercial sector.
Carbon capture and storage issues, including the legal and
regulatory implications of private or government established
regimes.
Climate
change issues will impact on all businesses, particularly in the
energy, heavy manufacturing, transport (including aviation)
sectors. The legal agreements and structures around carbon
will become the foundation of business transactions and it is
critical to ensure that they are robust, legally binding and
enforceable to add the maximum amount of value to your business.
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