Having consulted the Minister of Finance and having had regard to all the relevant matters, pursuant to section 68 of the Climate Change Response Act 2002, I direct the Registrar of the New Zealand Emission Unit Register to issue 30.7 million New Zealand Units (NZUs) into the Crown holding account in the New Zealand Emission Unit Register.

I direct the Registrar to identify and “tag” 13.3 million NZUs as suitable for conversion to Assigned Amount Units (AAUs) and exportable, and “tag” 17.4 million NZUs as not being suitable for conversion and non-exportable.

Dated at Wellington this 10th day of March 2015.

Hon TIM GROSER, Minister for Climate Change Issues.