About Us
About the NZEUR
The NZEUR was originally developed to meet New Zealand’s commitment and obligations under the Kyoto Protocol. It is New Zealand's only official register of Kyoto units and became operational for this purpose on 6 December 2007.
The NZEUR manages the accounting, reporting and reconciliation of emissions and unit holdings and transactions as part of the New Zealand Emissions Trading Scheme (NZ ETS) established by the Climate Change Response Act 2002 (CCRA). The CCRA was recently amended in December 2009.
The NZEUR is similar to an online banking system. It contains multiple accounts (known as holding accounts) and allows the transfer of units between NZEUR holding accounts and holding accounts in the registry systems of other Parties to the Kyoto Protocol, or between holding accounts within the NZEUR itself. The NZEUR currently supports the:
- opening of holding accounts
- holdings of both Kyoto units and New Zealand’s domestic unit of trade, commonly known as New Zealand units or NZUs
- transfer of Kyoto units and other information between the NZEUR and other official overseas registries under the Kyoto Protocol
- transfer of units between holding accounts within the NZEUR
- registration of participants’ activities under the NZ ETS.
Read more:
What information is recorded in the NZEUR?
Who uses the NZEUR?
The NZEUR is used mainly by individuals, companies or organisations that:
- have received Kyoto units from the Crown. These units are transferred as part of the Ministry for the Environment's Projects to Reduce Emissions (PRE) and Negotiated Greenhouse Agreements (NGA) programmes or the Ministry of Agriculture and Forestry’s Permanent Forest Sink Initiative.
- have been allocated New Zealand units under the NZ ETS
- are participants in the NZ ETS
The NZ ETS imposes an obligation on certain persons to register as participants to account for their emissions. These participants must access this online registry to open a holding account. Participants’ surrender units from their holding account to the Government. Similarly, those persons who may be entitled to or allocated units under the NZ ETS also need to open a holding account.
It is also used by other individuals, companies or organisations wanting to hold, receive or trade Kyoto units and New Zealand units for reasons other than compliance with the NZ ETS. In particular, they may choose to hold and trade units to take advantage of market opportunities.
The NZEUR can also be used by the general public to search the register for account holder and account information.
What information is recorded in the NZEUR?
As with a share registry, the NZEUR does not record information about the price or financial value of unit trades, nor does it provide a mechanism for the exchange of cash for units traded. Rather, the NZEUR records title (ownership) to the units held within a holding account. The mechanism for the exchange of cash for units traded will depend on the way the units were traded (for instance, selling directly or through a broker or organised exchange) and will be performed independently of the NZEUR.
The NZEUR is also independent of voluntary carbon markets and registers. Any forward registration of units in the voluntary markets is done outside of the regulatory and legislative framework and is not backed by the NZEUR.
Using the Register
To open or manage your account(s), you will need to Logon or Join.
