ERUs and CERs will be banned in NZ from 01 June 2015. As a result of not joining the second commitment period of the Kyoto Protocol New Zealand will no longer have access to Kyoto units from late 2015. The NZ Emission unit Registry will not accept foreign credits from 01 June 2015. The Government has also confirmed that forest owners under the Permanent Forest Sink Initiative will no longer receive Kyoto AAUs but New Zealand Units. Read more here.