Date of Royal Assent 18 November 2002 | ||
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The Climate Change Response Act 2002 is an Act of Parliament passed by the government of New Zealand.
The Climate Change Response Act 2002 created a legal framework for New Zealand to ratify the Kyoto Protocol and to meet obligations under the United Nations Framework Convention on Climate Change. It sets out powers for the Minister of Finance to manage New Zealand’s holdings of Assigned amount units and to trade Kyoto-compliant emission units (carbon credits) on the international market. It establishes a registry to record holdings and transfers of emission units. It establishes a national inventory agency to record and report greenhouse gas emissions.
The legislative purposes of the Climate Change Response Act 2002 are;
The Climate Change Response (Emissions Trading) Amendment Act 2008 established the Fifth Labour Government of New Zealand's version of the New Zealand Emissions Trading Scheme in September 2008.
Part 4 of the Climate Change Response Act sets out the New Zealand Emissions Trading Scheme.