New Zealand businesses need to be preparing for a world where there is a price on carbon in the major emitting economies.

They also need to prepare to report the level of carbon in their products to all major world retail chains, a business group was told in Auckland on Monday afternoon.

The Chief Executive of the New Zealand Business Council for Sustainable Development, Peter Neilson, told a briefing session hosted by law firm Minster Ellison Rudd Watts that while New Zealanders have been arguing about the science of climate change and having an Emission Trading System (ETS), the world has been marching on and adapting to a world where carbon is more fully priced.

There were major opportunities for businesses and economic growth from early adoption and mitigation.

Neilson said the European Union, the United States and China are all aiming to become the world leader in Clean Tech.

China is spending research money on battery technology to produce electric cars that are price-competitive with more traditional vehicles.

The United States, in the Waxman Markey Bill, is proposing to give farmers incentives for the early take up of emission reduction innovations.

Denmark has become the major exporter of wind turbines for wind generation.

In Australia, the EU, Britain or the United States, a businessman or farmer is more likely to be given a government grant to invest in lower emission plant than in New Zealand.

"The opportunities for New Zealand from a clean tech world are immense. There are 1 billion farm animals worldwide that could use a methane reducing inoculation if we can learn how to manipulate the methane producing capacity of ruminant animals," Neilson said.