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Accounts in the NZEUR
The Crown, individuals, companies and organisations can hold accounts in the NZEUR.
1. Crown
The Crown has a number of accounts in the NZEUR for compliance with the Kyoto Protocol and the CCRA:
Kyoto Protocol Crown Accounts
- crown holding account(s) to hold Kyoto units
- sink cancellation account (net-source cancellation)
- a non-compliance cancellation account
- a general cancellation account (voluntary cancellation)
- a retirement account
- long-term certified emission reduction replacement account
- temporary certified emission reduction replacement account
- long-term certified emission reduction replacement for reversal of storage
- long term certified emission reduction replacement for non-submission of certification report
NZ ETS Crown Accounts
- crown holding account(s) to hold New Zealand units
- NZU conversion account
- NZU Voluntary Cancellation Account
- Crown Surrender Account
2. Entity Accounts
Individuals, companies and organisations can open holding accounts in the NZEUR for the purpose of holding or trading both Kyoto and New Zealand units either domestically or internationally.
These entities are known as account holders in the NZEUR. Account holders legally own the units in their accounts.
The Climate Change (Unit Register) Regulations 2008 provide detail about the qualifying criteria for account holders and information required to open an account.
