There is still a flaw to the New Zealand ETS. It is a flaw that even the Climate Change Commission has identified in their report, and that is that New Zealand businesses cannot possibly, because of our current emissions path—and that includes the massive increase in the amount of coal being burnt to generate electricity in New Zealand, which is up 40 percent in the past two years—access enough New Zealand Units within the New Zealand market to satisfy their obligations. So even the Climate Change Commission recognises this. It has suggested in one of its policy options for the Government to allow New Zealand businesses to buy emissions units from overseas, because it's quite likely that it's much cheaper for New Zealand businesses to manage their climate obligations and to offset their emissions in other jurisdictions, because, after all, climate change is a global problem. Carbon dioxide emitted in New Zealand is no different to carbon dioxide emitted in South America or Europe or North America. 