Information on Memorandums of Understanding to purchase offshore carbon credits and international multilateral cooperation agreements

Details of the request

Memorandum of Understandings to purchase offshore carbon credits

1. Can you advise what types of bilateral or multilateral cooperation agreements are being considered and what form they might take? For example, crediting for reductions occurring in another jurisdiction, linking to existing international emissions trading carbon markets or creating a new international carbon market/s with specific countries? Are there other methods being considered, and if yes, what are these? We want to understand the carbon offset strategy that the New Zealand Government is exploring.
2. Can you advise if the Government is opening up dialogue on MOUs with any other country (e.g. in addition to Singapore, Thailand and the Philippines)? If yes, please list the other counties that the New Zealand Government is in correspondence with. If you are unable to list which countries, can you advise how many counties in total the Government is in dialogue with (i.e. to progress a MOU to purchase offshore carbon credits)?
3. What progress in being made on these MOU’s? How many have been signed? How many are close to being signed? If any are signed, can you please provide a copy of the signed agreement?
4. Has the Government considered opening up discussions with Bhutan? We briefly discuss this opportunity in our discussion paper (see page 93 in the link above). I was in Bhutan last year and explored this idea (clearly not as a Government official, but I did meet with Government officials in Bhutan). I felt a collaboration between the two countries would provide a number of positive benefits for both countries and may be more digestible to New Zealanders. I am happy to meet to discuss this idea in more detail and/or introduce you to some of my contacts there.