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New Zealand's carbon market has been put on hold, just weeks before its planned start date, after the new government met an election pledge to review emissions trading.
|NZ's carbon market put on hold weeks before launch
The scheme was to be the first carbon cap-and-trade scheme outside Europe, and would meet obligations under the Kyoto climate-change protocol.
Incoming Prime Minister, John Key, and his Climate Change Minister, Nick Smith, say they will adopt a carbon trading scheme in some form, but a revised version might not start until 2010.
The government has also suggested a possible review of the science behind climate change, a move that has outraged environmental groups, who say New Zealand's reputation will be damaged if the concept of global warming is questioned.
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