Introduced on May 26 under Urgency following the Budget. The bill phases out the transitional one-for-two surrender obligation measure from the Emissions Trading Scheme. One-for-two allows non-forestry participants in the ETS to submit only one emissions unit for every two tonnes of carbon dioxide equivalent of greenhouse gas  emissions. It was introduced as a transitional measure in 2009 to moderate the initial impacts of the NZ ETS on businesses and the economy. It was extended in 2012 while New Zealand continued to recover from the global financial crisis. The current 50 per cent unit cost will increase to 67 percent from January  2017, then 83 percent from January  2018, with all sectors in the ETS paying the full market price from  January 2019. The current price ceiling which caps units at $25 will remain. Passed through all stages with all parties in agreement. Climate Change Response (Removal of Transitional Measure) Amendment Bill