Carbon debt tipped to improve

An update on New Zealand's carbon-credit liability, to be released tomorrow, is expected to show significant changes.

In May Treasury said a $1 billion projected carbon deficit had halved to $481 million, and NZPA understands it has continued to improve.

It is an estimate of how much New Zealand would have to pay for carbon credits if climate change emissions are not reduced to levels agreed in the Kyoto Protocol, or offset by tree plantings.

Climate Change Issues Minister Nick Smith will release the report.

- NZPA