The New Zealand Emissions Trading Scheme (NZ ETS), in operation since 2008, has pioneered several design features suited to the unique national circumstances of Aotearoa New Zealand.

The NZ ETS was reformed substantially in 2020 to make it fit for purpose in helping Aotearoa meet its climate change targets under the 2015 Paris Agreement and 2019 Zero Carbon Act.

This 2022 revision provides a user-friendly description of the system’s current design features, their rationale, and how they have evolved over time. The guide also includes a series of figures illustrating trends in key data over time.