The Cabinet Paper sets out the various elements that will be considered, including the price level, whether it should be volume-limited and whether processes need to be put in place to manage the price ceiling over time.

The terms of reference included discussion of the policy options to: BERG has met 11 times since its inception and the Government expects to receive its final report in late 2017.

On 15 August 2017, the Transport and Industrial Relations Select Committee delivered a report which detailed its inquiry into the future of New Zealand's mobility.

Also on this page is a document showing the legislative evolution of the NZ ETS.

On 27 July 2017, the Government announced a package of changes to the NZ ETS set out in a Cabinet Paper (Cabinet Paper) which built on a report released by the Ministry for the Environment (MFE) in February 2016 (Report).

The current $25 fixed price option allows NZ ETS participants to meet their obligations by paying the Crown $25 instead of surrendering an NZU.

It is anticipated that in the 2020s the price of an NZU will go above therefore the Government intended to review various different options to replace this system.The Government is continuing to address issues in the forestry sector including reviewing the forestry accounting approach which determines how many NZUs can be received as forests grow and how many need to be returned to the Crown if the forests are harvested or deforested.The Government has recognised that the liabilities at harvest can act as a barrier to landowners and foresters participating in the NZ ETS and encourage new planting.Section 30G(1)(p) of the Climate Change Response Act 2002 (CCRA) already provides a regulation making power to implement an auctioning mechanism. Before auctioning commences, the Government would need to set a limit as to how many NZUs can be auctioned each year.In the past, more international units were purchased than were needed to meet New Zealand's targets.The Government has agreed to introduce auctioning into the NZ ETS with the aim of establishing an auctioning mechanism by 2020.