New Zealand

SBTi has no plans to validate voluntary carbon credit use towards corporate emissions targets

Published 15:09 on March 26, 2024 / Last updated at 15:49 on March 26, 2024 / Paddy Gourlay / Africa, Americas, Asia Pacific, Australia, Canada, EMEA, International, Japan, Middle East, Nature-based, New Zealand, South & Central, South Korea, Switzerland, US, Voluntary

The Science Based Targets initiative (SBTi) will not bow to pressure and validate the use of voluntary carbon credits to help a company achieve its emission targets, the body confirmed to Carbon Pulse Tuesday.

Novel New Zealand concrete decarbonising start-up raises $4 mln in oversubscribed seed funding round

Published 02:04 on March 26, 2024 / Last updated at 02:04 on March 26, 2024 / Mark Tilly / Asia Pacific, New Zealand

A New Zealand start-up focussing on decarbonising concrete has secured NZ$6.5 million ($4mln) in seed funding that will go towards scaling up its business, it announced.

VCM Report: Market pauses as ICAO delays approval of new standards, ICVCM wades through voluntary carbon methodologies

Published 17:05 on March 25, 2024 / Last updated at 17:22 on March 25, 2024 / Paddy Gourlay / Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary

Trade in the voluntary carbon market stumbled last week under a cloud of uncertainty created by key organisations.

Water overlooked in voluntary sector but market potential tops 1.6 bln carbon credits a year, finds report

Published 14:06 on March 22, 2024 / Last updated at 14:06 on March 22, 2024 / Paddy Gourlay / Africa, Americas, Asia Pacific, Australia, China, EMEA, International, Middle East, Nature-based, New Zealand, South Korea, Voluntary

The total global potential for voluntary carbon credits generated from water-related projects could top 1.6 billion tonnes of CO2 a year, but the sector has been overlooked by project developers and investors, partly because of a lack of methodologies, finds a new report.

NZ Market: NZU price recovers following partially-cleared auction

Published 04:37 on March 21, 2024 / Last updated at 04:37 on March 21, 2024 / Mark Tilly / Asia Pacific, New Zealand

The NZU price has rallied following Wednesday’s rout in the wake of the partially cleared auction, as the government said it was progressing restrictions on the classes of land that can enter the ETS.

UPDATE – NZ auction partially clears, spot NZU price falls 24%

Published 23:19 on March 19, 2024 / Last updated at 05:47 on March 20, 2024 / Mark Tilly / Asia Pacific, New Zealand

The first New Zealand ETS auction for 2024 has partially cleared, with 2.974 million NZUs being sold, the first time the government-run auctions have sold units since Dec. 2022.

London brokerage to expand into New Zealand carbon market via acquisition

Published 13:32 on March 19, 2024 / Last updated at 13:32 on March 19, 2024 / Roy Manuell / Asia Pacific, EMEA, New Zealand, Other APAC

A London-based brokerage will acquire a New Zealand energy and carbon firm to offer its international clients better access to the NZ ETS.

VCM Report: Low price trade dominates voluntary carbon market as liquidity thins ahead of CCPs arrival

Published 16:39 on March 18, 2024 / Last updated at 16:39 on March 18, 2024 / Paddy Gourlay / Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, EMEA, International, Japan, Kyoto Mechanisms, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary

Over-the-counter trade seems to have slowed in the voluntary carbon market and retirement levels have fallen ahead of the much-anticipated announcement at the end of the month of the first methodologies that will qualify for the Core Carbon Principles (CCPs) stamp of high integrity.

PREVIEW: NZU market activity surges ahead of ETS auction, strong chance it will clear, participants say

Published 00:46 on March 18, 2024 / Last updated at 04:07 on March 18, 2024 / Mark Tilly / Asia Pacific, New Zealand

The NZU market has seen a ramp up in activity over the last week in anticipation of Wednesday’s ETS auction, as participants expect it to clear.

NZ minister walks back Significant Natural Areas announcement after deemed unlawful

Published 06:56 on March 15, 2024 / Last updated at 06:56 on March 15, 2024 / Mark Tilly / Asia Pacific, Biodiversity, New Zealand

Just one day after it announced local councils would no longer have to comply with Significant Natural Areas (SNAs) considerations, the New Zealand government has had to retract its announcement after realising it would be unlawful to do so.