Terms of reference

• hear views from trade and diplomatic experts on the international relations aspects of this issue
• consider the prospects for an international agreement on climate change post Kyoto 1, and the form such an agreement might take
• require a high quality, quantified regulatory impact analysis to be produced to identify the net benefits or costs to New Zealand of any policy action, including international relations and commercial benefits and costs
• identify the central/benchmark projections which are being used as the motivation for international agreements to combat climate change; and consider the uncertainties and risks surrounding these projections
• consider the impact on the New Zealand economy and New Zealand households of any climate change policies, having regard to the weak state of the economy, the need to safeguard New Zealand’s international competitiveness, the position of trade-exposed industries, and the actions of competing countries
• examine the relative merits of a mitigation or adaptation approach to climate change for New Zealand
• consider the case for increasing resources devoted to New Zealand-specific climate change research
• examine the relative merits of an emissions trading scheme or a tax on carbon or energy as a New Zealand response to climate change
• consider the need for any additional regulatory interventions to combat climate change if a price mechanism (an ETS or a tax) is introduced
• consider the timing of introduction of any New Zealand measures, with particular reference to the outcome of the December 2009 Copenhagen meeting, the position of the United States, and the timetable for decisions and their implementation of the Australian government
• and report to the House accordingly.