We support an ETS, an emissions trading scheme, which gives New Zealand business options—options to mitigate the effects of carbon dioxide emissions on the climate at the lowest possible cost to their businesses and to society as a whole. This regulation does not do that. ACT supports an ETS which allows for trade-offs between businesses which emit carbon dioxide as part of their process, like a steel mill or a power station, and a willing seller, those which take up carbon dioxide as part of their business activity, like growing trees or some other capture and storage technology, because ACT trusts New Zealand scientists and engineers to work out how to mitigate carbon dioxide. 