Lets recap the post of the other day about how the NZ ETS has no cap.
'Cap and Trade' emissions trading schemes have fixed volume caps on emissions, according to the economics literature (such as Jaffe, Ranson and Stavins (2009), Tietenberg (2003) and Stavins (2001)).
The New Zealand Emissions Trading Scheme has no cap or limit on the amount of international carbon credits that can be imported by emitters.
The New Zealand Emissions Trading Scheme has no cap or limit on the amount of NZ Units that will be allocated to emitters.
The NZ ETS has no Cap. It is not a cap and trade scheme. It will not reduce NZ's emissions of greenhouse gases.