In 2017, New Zealand and China signed a climate change cooperation agreement: the US-based Centre for Climate and Energy Solutions regularly convenes informal discussions on the options for the new climate change agreement. New Zealand is one of more than 20 countries participating. New Zealand`s most important instrument for reducing greenhouse gas emissions is an Emissions Trading Scheme (ETS). The government adopted important ETS reforms in June 2020. Despite election promises and the coalition agreement to include agriculture in the ETS, emissions from the sector will only be taken into account in 2025 and farmers will be exempt from 95% of emission rights, i.e. they will have to bear the cost of only 5% of their emissions.