17 Apr 2014

PM rejects carbon price rise plea

6:52 pm on 17 April 2014

A collective of tribal leaders has failed to convince the Government to boost the price of carbon credits.

The value of the units has collapsed, and the iwi leadership group on climate change wants the rate to go up.

The credits are sold and bought under the emissions trading scheme, which was set up to encourage the growing of trees to absorb carbon dioxide.

Tribal spokesperson Chris Karamea Insley told an energy conference they had proposed to Prime Minister John Key that the carbon credit price be raised to $15, and that analysis showed a rise would create 50,000 jobs.

But Mr Karamea Insley said Mr Key rejected the plea.