New Zealand announces emissions targets

New Zealand has set an ”ambitious but achievable” emissions reduction target of 10-20% below the 1990 levels by 2020, Climate Change Minister Nick Smith said. He said the commitment is dependent on a global agreement to curb greenhouse effects. New Zealand currently has gross carbon emissions of 24% above 1990 levels, accounting for about 0.2% of total global emissions. He warned that consumers and businesses will be hit with higher prices in the form of higher gasoline and electricity costs. ”A less ambitious target would undermine New Zealand’s clean, green environmental reputation,” the government said. (August 10, 2009)