Our lack of progress clearly shows our emissions trading scheme has been ineffective. This is not surprising because under the ETS carbon dioxide emissions are being charged for by the Government at a rate of $12.50 a tonne, but international "Kyoto" units, available for as little as $5 a tonne, have also been useable.
Meanwhile, former United Nations climate chief Yvo de Boer recently said he believes the European Union needs to quickly boost its carbon price to about €150 ($240) a tonne if it is to meet its objective of reducing emissions to 80 per cent below 1990 levels by 2050. Compared to this, present New Zealand pricing seems to be in make-believe land.
The ETS is also ineffective because of its complexity, lack of transparency and openness to political lobbying. A charge on carbon in all imported or locally produced fossil fuels would be a much simpler and clearer way to put an appropriate price on the emissions that occur when these fuels are burned.
At the same time as it is talking about reducing emissions, our Government is encouraging offshore oil exploration, development of new coal mines and even development of Southland lignite, one of the planet's dirtiest sources of carbon.
The report released in November by the World Bank, Turn Down the Heat, concludes that the world is on a path towards a temperature rise of up to 4C above pre-industrial levels, and may even reach this point before the end of this century if urgent action is not taken.
It says the result of such a temperature rise would be devastating. Large areas would likely become uninhabitable and many species, including even possibly mankind, might not be able to adapt.
As a country, we are in a very powerful position to take strong and effective action to reduce our emissions. We have enormous potential to develop wind, tidal and solar power. We also have a major source of renewable carbon from wood chips and other crops. Going down this path will create new industries and jobs, and at the same time reduce our dependence on carbon-based fuels.
If there has ever been a time in New Zealand's history when it needs to be a leader, it must surely be now.
Peter Whitmore is a former Auckland publisher with a background in engineering, science and economics.