NZ Market: Traders in bullish mood as carbon market reform kicks in
New Zealand carbon allowances traded at record high levels on Thursday, as traders returning from holidays grappled with a reformed market.
Read MoreBRIEFING: International emissions trading pilots see fourfold funding gain ahead of Paris rulebook
Governments have committed $1.37 billion towards international emissions trading pilot programmes to help meet Paris Agreement goals, according to a report that charts a fourfold rise in finance inside 18 months.
Read MoreNew Zealand makes U-turn on carbon auction technical reserve price
New Zealand will opt for a technical reserve price at its NZU auctions after all, Climate Change Minister James Shaw has said, a move intended to ensure government sale prices don’t drop far below secondary market levels.
Read MoreSenior carbon trader leaves NZ energy firm
A veteran emissions trader has left one of the biggest emitters participating in New Zealand’s carbon market.
Read MoreClimate Ambition Summit: World leaders strengthen pledges, celebrate Paris anniversary
Over 70 world leaders addressed the Climate Ambition Summit on Saturday, a one-day virtual forum aimed at building momentum for raising national pledges to the 2015 UN Paris Agreement ahead of the pact taking effect next year.
Read MoreGenesis emissions pledge to dampen NZU demand
New Zealand’s biggest thermal power generator on Wednesday announced new climate targets that could eliminate more than 2% of annual NZU demand by 2025.
Read MoreNZ Market: Record NZU run continues unabated as sellers step back
New Zealand carbon allowances on Tuesday notched a fifth straight day of record high prices, with spot NZUs firming almost 5% over the period as willing sellers remain elusive.
Read MoreNZ Market: NZUs notch record high price for third consecutive day as momentum returns
New Zealand carbon allowances have risen 2.2% over the past three trading sessions as demand returned to the market ahead of the far-reaching ETS reforms entering into force next month.
Read MoreNZ Market: NZUs hit NZ$36 as market continues slow march into unchartered territory
New Zealand carbon allowances rose to a fresh record high on Wednesday after a two-week pause as the market remains bullish on long-term trends.
Read MoreBilateral deals, not talks, likely to shape Article 6 emissions trade rules -NZ minister
Rules for international emissions trade under the Paris Agreement’s Article 6 are more likely to emerge from bilateral deals rather than via UN climate negotiations, according to New Zealand’s Climate Change Minster James Shaw.
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