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of carbon is between NZ$10 and NZ$20 per tonne. The Kyoto pact aims to reduce greenhouse gas emissions from the developed world, which account for the overwhelming bulk of the gases, by 2012 to around five percent below 1990 levels. Around 100 countries have ratified the controversial protocol but New Zealand’s major trading partners Australia and the United States have remained outside the agreement. The New Zealand government has announced plans for a carbon tax some time after 2007 which will raise energy prices between six and 19 percent. New Zealand Amazing butterfly and sunflower all over printed slippersproduces between 70 and 90 million tonnes of carbon dioxide a year but expects to earn as much as NZ$1.4 billion ($784 million) from carbon sink credits generated by its big commercial forests. The research which focuses on the effects of weather changes on the insurance industry and loss prevention had also revealed that “buildings and infrastructure are usually not sufficiently designed to cope with the high strains of extreme weather events,” Berz said. According to him, “evidence points to critical extreme wind speeds and precipitation being exceeded with increasing frequency; so that for this reason alone there will inevitably be a stark increase in the loss burdens as well.” Compared with 1998 regarded as the warmest year since the temperature reading began, 2002 has also maintained the unbroken record of global warming, the risk expert stated.
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