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Land Transport Act 1998

Clean vehicle standard - Clean vehicle standard - Category 1 light vehicle importers: obligations and ways of complying with targets

178: Category 1 light vehicle importer may bank overachievement of carbon dioxide emissions target

You could also call this:

“Car importers can save extra carbon savings for future years”

If you import category 1 light vehicles and your fleet’s average carbon dioxide emissions are lower than your target for the year, you can save the extra reduction for next year. This is called ‘banking’.

When you bank emissions, your carbon dioxide account for the next year gets a credit. This means you’ll have an easier time meeting your target next year.

You can keep these credits in your account for up to three years from the end of the year you earned them. After that, they expire and you can’t use them anymore.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS649426.

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"Paying extra if you bring in cars that pollute too much"

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179: Category 1 light vehicle importer may defer obligation, or

"You can ask to delay meeting your vehicle import targets for a year"

Part 13 Clean vehicle standard
Clean vehicle standard: Category 1 light vehicle importers: obligations and ways of complying with targets

178Category 1 light vehicle importer may bank overachievement of carbon dioxide emissions target

  1. If the actual average vehicle carbon dioxide emissions across the fleet of vehicles imported by a category 1 light vehicle importer in an obligation year are less than the fleet target applicable to that importer, the excess reduction in emissions may be carried forward to the next obligation year (banked) in the vehicle importer’s carbon dioxide account in accordance with the regulations.

  2. Banking provides that the vehicle importer’s carbon dioxide account for the next obligation year will be credited by the amount carried forward.

  3. Carbon dioxide credits banked in an importer’s carbon dioxide account expire 3 years from the end of the year in which the credits accrue.

Notes
  • Section 178: inserted, on , by section 10 of the Land Transport (Clean Vehicles) Amendment Act 2022 (2022 No 2).