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New Zealand PM-elect confirms ETS will stay as carbon price rallies to 1-yr high

Published 09:46 on October 20, 2017  /  Last updated at 13:57 on October 20, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand Prime Minister-elect Jacinda Ardern on Friday confirmed that the country’s emissions trading scheme would stay as part of the new government’s wide-reaching climate policies, as NZU prices surged 2.7% to their highest levels in over a year.

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New NZ government faces dilemma over emissions trading makeover

Published 10:26 on October 19, 2017  /  Last updated at 23:31 on October 19, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand’s coalition talks concluded Thursday with a new government led by a Labour Party that went to the polls promising to reform the nation’s emissions trading scheme, but it is unclear if this will happen because coalition partner NZ First wants to ditch the scheme.

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New Zealand warned against $14.4 bln over-reliance on carbon credits for ‘impossible’ Paris target

Published 10:33 on October 16, 2017  /  Last updated at 10:33 on October 16, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand’s Paris Agreement emissions target is impossible to meet domestically yet the government risks spending up to NZ$20 billion ($14.4 bln) on international carbon credits that have no long-term value for the nation, its former chief climate negotiator has warned.

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NZ Market: NZUs hit 11-mth highs as coalition talks run into overtime

Published 11:42 on October 12, 2017  /  Last updated at 11:42 on October 12, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances continue to edge up on a lack of willing sellers, recording modest gains for a tenth consecutive session on Thursday to hit their highest levels since Nov. 24 last year.

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NZ Market: NZUs hit 3-week highs on diminishing supply

Published 10:17 on October 9, 2017  /  Last updated at 19:47 on October 9, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon ended stronger for a fifth consecutive session on Monday, extending gains to a three-week high despite a lack of clarity over the election outcome as available supply shrinks.

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NZ Market: NZUs hits 2-wk high amid stronger bid side

Published 12:53 on October 5, 2017  /  Last updated at 18:17 on October 5, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon permits notched a third straight day of gains on Thursday, reaching their highest levels since Sep. 25 as some buyers were slowly returning to market despite the fact that the election outcome remains unknown.

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New Zealand floats proposal for international carbon trade ahead of COP23 UN climate talks

Published 13:08 on October 4, 2017  /  Last updated at 16:03 on October 4, 2017  /  Asia Pacific, Climate Talks, International, Kyoto Mechanisms, New Market Mechanisms, New Zealand  /  No Comments

New Zealand has submitted draft guidance to the UN on accounting procedures for international carbon trade under the Paris Agreement that would see annual publication of all transactions and tougher requirements for nations wishing to participate in a future market.

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NZ Market: NZUs soften as coalition talks drag on

Published 10:37 on October 2, 2017  /  Last updated at 15:55 on October 2, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances slipped below NZ$18 on Monday as both major parties confirmed they are in talks with NZ First about possibly forming a government coalition but with no immediate solution in sight.

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NZ’s ruling National Party takes most votes in election stalemate, dashing hopes of radical ETS reform

Published 20:10 on September 23, 2017  /  Last updated at 09:56 on September 25, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand’s parliamentary election ended in stalemate on Saturday, with the ruling National Party taking 46% of votes to top Labour and kill their plan to radically reform the country’s carbon market.

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NZ Market: NZUs extend losses ahead of Saturday election

Published 10:13 on September 21, 2017  /  Last updated at 14:27 on September 21, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances fell another 10 cents on Thursday as uncertainty continues to reign about the prospects for the market after this weekend’s elections.

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