ETS infringement offence fines reminder
22 December 2021
Participants in the Emissions Trading Scheme (ETS) are reminded that infringement offences for the ETS take effect on 1 January 2022.
The Government made changes to the ETS through the Climate Change Response (Emissions Trading Reform) Amendment Act 2020 (CCRA) in June last year.
Gayle Holmes, the EPA’s General Manager Compliance, Monitoring and Enforcement says: “There are a number of infringement offences relating to failure to comply with ETS requirements including collecting information, keeping records, and providing information.
“With the introduction of the regulations, failure to comply with the requirements may result in infringement fees or fines of up to $6000 being imposed for each offence.
“Participants need to stay up to date with their filing, and on top of their obligations under the CCRA.”
Like the income tax regime, the ETS is ‘enabling’, in that people can register, assess their own obligations, and then do their own reporting.
The ETS is New Zealand’s primary tool for reducing carbon emissions. The amendments have provided for a wider range of compliance tools to help manage and maintain the integrity of the ETS, and will improve certainty for businesses, make the ETS more accessible and improve its administration.
These changes will help New Zealand reach its greenhouse gas emissions reduction targets, moving New Zealand towards being a sustainable and low emission economy.