Cost of purchasing carbon credits and District landfill fees
21 Jun 2018, 9:38 AM
The rising price of purchasing carbon credits means that the cost of using Waitomo District Landfill must increase from 1 July 2018.
The Emissions Trading Scheme is the Government’s principal policy response to climate change and has been in place since 2008. The objective of the scheme is to support and encourage global efforts to reduce greenhouse gas emissions by assisting New Zealand to meet its international obligations and reduce New Zealand’s net emissions below business as usual levels.
The Government has announced it is phasing out the one-for-two transitional measure in the New Zealand Emissions Trading Scheme (NZ ETS) which allows businesses to pay one emissions unit for every two tonnes of carbon dioxide equivalent emissions. From 1 January 2019, a full surrender obligation applies across the NZ ETS. The market price for purchasing carbon credits has been steadily rising for the last 18 months from about $5.00 to between $17.00 - $20.00 per unit.
This operating cost means that from 1 July 2018 Waitomo District Council must increase fees and charges.General Manager Kobus du Toit says the Council’s user-pays approach aims to encourage people to take responsibility for the cost of disposing of their waste.
“Every household and business produces waste. There is an unavoidable cost to dispose of it in an environmentally responsible way”.
“One tonne of waste produces approximately 1.19 tonnes of carbon dioxide. Waitomo District Landfill currently takes approximately 10,000 tonnes of waste each year, and therefore, the Landfill must pay for 11,900 metric tonnes of carbon dioxide (11,900 NZU).” Says Mr du Toit.
WDC encourages residents and business to do their part to reduce, reuse and recycle. Reducing food waste not only keeps money in your pocket but also reduces the volume of landfilled waste.