NZETS bans large scale hydro CER and industrial process ERU

December 18, 2012

The New Zealand Government has announced new restrictions on the surrender of certain international emission units will come into effect on 18 December 2012.
The restrictions affect Certified Emission Reduction units (CERs) and Emission Reduction Units (ERUs) generated by large-scale hydropower projects and ERUs generated by industrial gas destruction projects.
Affected units brought into the NZEUR after 17 December 2012 will no longer be eligible for surrender or repayments to meet an obligation with the NZ ETS. Units brought into the NZEUR through a forward contract that has been registered with the Registrar by 11 February 2011 will be eligible for surrender until 1 June 2014.
More information on the ban, including a guide to identifying banned units and further information regarding the registering of forward contracts, will be uploaded to the NZEUR website shortly (


COP 18 Summary

December 12, 2012

480m industrial process CER unused due to bans in EU, Australia, and New Zealand

7m CER carried over from CDM into Phase II

Countries without a Phase II cap will not be able to use the CDM