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Carbon management is a growing area of focus for organisations as pressure to adopt future zero carbon targets grows, and carbon pricing volatility increases. Many companies are now measuring and reporting their scope 1, 2 and 3 emissions as part of their annual reporting and increasingly taking action to understand and mitigate their carbon impact.
As the New Zealand Government’s primary mechanism for meeting its international and domestic carbon emission targets, the Emissions Trading Scheme (ETS) is already creating a significant compliance obligation for many New Zealand organisations - one which will only continue to increase in complexity and cost as annual emissions budgets decrease and forestry land becomes more scarce. Businesses must be cognisant of this developing liability and have a long term strategy for meeting their emissions obligations.
Organisations without compliance obligations may choose to secure carbon offsets on the voluntary market that fits with their values and strategic priorities.