Last year’s $546 million shortfall for meeting our Kyoto greenhouse gas targets has this year turned into $241 million surplus, but the good news is muted by the sheer volatility of the figures involved.
The recently released 2009 Net Position report shows variation of 31 million tonnes over the past year which include drop in agricultural emissions caused by the 2007-2008 drought and improved data on carbon storage in forests. Although Business New Zealand sees the improved figures as good reason to avoid rushing through an emissions trading scheme, Climate Change Minister Nick Smith notes that it is difficult to make sound climate change policy when the figures are so volatile.
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