KEY POINTS:
Australasian energy giant Origin says businesses have to get used to emission trading schemes on both sides of the Tasman.
A strategist for the company, Carl McCamish, said scientists, then politicians and regulators were now passing on the carbon market responsibility to business.
"Whether individuals in companies have their own views on climate change the point is we've got the baton [and] the race is three-quarters run," he said before the Australia and New Zealand climate change and business conference in Auckland last night.
The New Zealand legislation has been parked while the Government tries to get support from other parties to pass the law while Australia is committed to having its scheme in place in 2010.
McCamish is Origin's executive general manager of corporate development and communications and delivered the opening speech at the three-day conference.
Schemes would impose additional costs on parts of most companies, including his own, but they should be put in the context of huge rises in oil, liquefied natural gas and coal prices during the past two years.
"The scale of the change needs to be put in perspective."
He said the impact of New Zealand and Australia developing their own schemes should not be underestimated.
"It's not going to force China to suddenly start their own emissions trading scheme tomorrow but it does move the world a big step closer - it stops the European Union from being out there on its own."
One of the key ingredients was certainty, especially when schemes were reviewed.
Origin in Australia is investing billions in gas-fired power generation and through its 51 per cent stake in Contact here has billions committed to wind, geothermal and gas-fired power stations over the next few years.
"We are talking big numbers - to make those kinds of investments certainty is very important so reviewing it every two or three years is potentially a bad thing."
He favoured Australia's intention to review its scheme every five years.
