NZ Market: NZUs rebound as buyers see good value
New Zealand carbon allowances climbed back up to NZ$23 ($15.28) as some buyers stepped in to take advantage of what they considered attractive levels.
Read MoreNZ minister says “not keen” to change NZU fixed price level
New Zealand Climate Change Minister James Shaw has said he is “not keen” to shift the emissions trading scheme’s de facto price cap level up from the current NZ$25 level until the full market reform package is ready, the clearest indicator yet the cap will stay where it is and weigh further on NZUs.
Read MoreBY THE NUMBERS: Data sheds light on unused CER supply, Kyoto unit trading
There remains more than 860 million unused CERs – a massive supply of offsets that could potentially be tapped by airlines to comply with ICAO’s CORSIA scheme or which could find its way into the Paris Agreement era.
Read MoreNZ Market: NZUs find momentary respite but outlook remains cloudy
New Zealand carbon allowances on Friday halted their recent price slide as the spot contract climbed back above NZ$23 ($15), though experts said a lack of fundamental drivers suggests a serious comeback is unlikely for now.
Read MoreNZ Market: NZUs crash through NZ$23 as bearish sentiment takes hold
NZUs shed another 3.4% on Thursday, dropping below NZ$23 as demand remained minimal following the government’s lack of clarity over the market’s de-facto price cap.
Read MoreNZ Market: NZUs plunge below NZ$24 as demand evaporates
New Zealand carbon allowances on Wednesday fell below NZ$24 for the first time in 10 months as demand fell away and market participants warned of further downside ahead.
Read MoreCarbon pricing schemes grow in numbers, but still too few and too cheap to meet Paris goals -report
The number of planned or implemented carbon pricing mechanisms worldwide has grown to 57, but without expanded coverage and higher prices they won’t be sufficient to help meet the temperature goals in the Paris Agreement, a World Bank report said Friday.
Read MoreNZ Market: New Zealand carbon extends losses as slump kicks in
New Zealand carbon allowances fell to a 10-month low in Thursday trade as lingering questions about the fixed price option has muted demand.
Read MoreNZ Market: NZUs drop to 9-mth low as bearish sentiment over FPO lingers
New Zealand carbon allowances extended their recent losses in Friday trade to close at their lowest levels since last August, with market observers expecting prices to fall further in weeks ahead amid lack of clarity on the future fixed price option level.
Read MoreNZ budget puts carbon auctioning on track, but offers nothing new on FPO
New Zealand on Thursday allocated funds to begin building an NZU auctioning platform through its 2019 budget, but did not offer any new information on the future level of the fixed price option, sending prices tumbling to 6-month lows.
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