Business Update

Progress on biofuel policy

It is one of several initiatives, set out in the recently-launched New Zealand Energy Strategy, to help cut greenhouse gas emissions arising from domestic transport.

On 16 October 2007, the Biofuel Bill received its first reading in Parliament.  Drafted by the Ministry of Economic Development, the Biofuel Bill provides for the introduction of the Biofuels Sales Obligation and the regulation of fuel quality. It also makes a number of amendments to other pieces of legislation associated with the introduction of biofuels to future-proof the regime and cater for future diversification of the fuel market.
 
Public submissions are now being invited on the Biofuel Bill. Submissions should be made to the Local Government and Environment Select Committee by Thursday 31 January 2008.

In the meantime, the Ministry of Economic Development has been consulting on proposed biofuel specifications.  A discussion document, Regulating Biofuel Quality, is available on the Ministry’s website.  The closing date for submissions is Friday 9 November 2007.

• New Zealand Energy Strategy
• Biofuel Bill - First Reading
• Call for submissions on Biofuel Bill
• Regulating Biofuel Quality discussion document
• New Zealand's targets for a sustainable future