New Zealand's Emissions Trading Scheme to Disrupt Farming, Reshape Economy
Starting in 2008, New Zealand is introducing an Emission Trading Scheme to control greenhouse gases. Initial focus is on forestry, eventually including energy, industry, and agriculture emissions by 2013. Agriculture emits over half of NZ's greenhouse gases but is vital for the economy. A study used a special model to see how pricing emissions would affect food and fiber industries. Energy emissions' costs are low at NZ $25 per ton, but agricultural emissions from 2013 will hit sheep, beef, and dairy farming hard. There are ways to lessen the economic impacts, like using land differently and finding cost-effective solutions. However, changing could unintentionally push emissions to other places.