emissions trading set for failure.

[king1]

it's purpose is to build in a very real cost for businesses and industries that generate CO2, and conversely reward those businesses and industries that sequester CO2.  

It creates a financial incentive on both sides of the equation.  Not a be all and end all solution, but simply a means of modifying behaviours

How of any of this is going to mitigate climate change?
We have the best part of 200 years of CO2 emissions to catch up on, plus we still cant plant trees at the rate of burning, and at best even if we could, its not enough, we need to plant a whole continent to make any meaningful change.
Planting all of the saraha would achieve more than the few pines in NZ.
Check out the africa green belt, thats a more meaningful project, and why kiwis cant claim carbon offsetting for tree planting in the Amazon, i will never know.
Yet we are happy to let overseas buyers take over our farms and plant them all in pines.
Its hypocritical.
Thats why I really like Act's climate policy, because they would permit this.

it will help mitigate climate change by modifying behaviours.  But like I said it is not a be all and end all solution, I think it is well established that it is going to take multiple initiatives to make a dent in it...