New Zealand has narrowly passed its emissions trading scheme into law. Australia has voted its cap and trade legislation down.
New Zealand’s Climate Change Response bill is an amended version of the one passed under the previous labor government. It requires a 50 percent reduction of emissions by 2050.
The Australian government has been embroiled in a bitter dispute over its Carbon Pollution Reduction Scheme. The bill was defeated 41 votes to 33. The scheme was due to start in mid 2011 across 70 per cent of the country’s emissions.
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