Climate Change Minister Paula Bennett says New Zealand and Korea have begun joint discussions on developing carbon markets in the region.

Yesterday’s inaugural meeting of the Environmental Committee, established under the New Zealand – Korea Free Trade Agreement, comes shortly after New Zealand and China signed a Climate Change Action Plan as part of the NZ China FTA.

“New Zealand wants to discuss carbon markets with a range of potential partners,” Mrs Bennett says.

“These developments with Korea and China demonstrate the opportunities trade provides to progress environmental outcomes with our partners.

“Like China, Korea has implemented an Emissions Trading Scheme and our countries can learn a lot from each other’s experiences.

“Korea also shares our interest in developing carbon markets that have environmental integrity, particularly in the Asia-Pacific Region.

“Korea was an early supporter of the NZ-led Ministerial Declaration on Carbon Markets, announced at the Paris climate change conference in December 2015. We will have further opportunity to talk with other countries in June when New Zealand and Korea co-host the next Asia-Pacific Carbon Markets Roundtable in Seoul.”