Introduced on Dec 2. The bill creates a new penalty regime for ETS participants with low-volume liabilities of less than 25,000 units on average per year from forestry activities who fail to surrender or repay units by the due date. The bill also reforms industrial allocation settings for NZUs. Read a first time on Feb 21 with all parties in favour and referred to the environment committee, to be reported back by July 20.Climate Change Response (Late Payment Penalties and Industrial Allocation) Amendment Bill