Taxpayers will be stuck with 84 per cent of NZ's Kyoto Protocol bill, while farmers and industrial emitters get hefty subsidies, a study says.

New Zealand's largest exporter, Fonterra, says it will receive no protection under planned changes to the emissions trading scheme.

Air NZ chief executive Rob Fyfe has lashed out at dithering over cutting emissions, described climate talks as a 'bureaucratic circus'.

Labour and National should put aside their egos and resume ETS talks for the betterment of the country, says United Future leader Peter Dunne.