Evolution of the New Zealand Voluntary Carbon Market: An Analysis of CarboNZero Client Disclosures

S. Jeff Birchall, Maya Murphy and Markus J. Milne

Social and Environmental Accountability Journal, 2015, vol. 35, issue 3, 142-156

Abstract: Climate change has the potential to dramatically change the world as we know, both in terms of the environment and the way in which societies operate. Public policy responses to climate change continue to evolve, with many western economies proposing mechanisms for emission reductions, for example, through a tax on carbon or emissions trading schemes. In the absence of finalised regulation, organisations choosing to offset their carbon emissions are engaging in the voluntary carbon market (VCM). Through an empirical description and analysis of organisations comprising the VCM field in New Zealand, this paper provides evidence of the evolution of the carbon market as well as the level of success of CarboNZero's certification programmes (CarboNZero-super-Cert and CEMARS-super-Cert) in reducing organisational emissions. Examination of disclosure documents of clients of CarboNZero indicates that the growth of VCM in New Zealand is slowing down. Furthermore, CarboNZero's programmes were found to be only modestly effective. This research thus finds that incorporation of carbon accounting is not necessarily evidence of organisational action or improvement on climate change abatement.

Date: 2015
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DOI: 10.1080/0969160X.2015.1061444

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