New Zealand consults on major changes to ETS price control levels
New Zealand’s environment ministry on Tuesday launched its annual consultation on settings in its emissions trading scheme, and included proposals from the independent Climate Change Commission (CCC) that would see major increases in the price floor and ceiling at NZU auctions.
Read MoreCarbon tax can put dent in Asia-Pacific emissions, IMF says
A carbon tax of $25/tonne could put a significant dent in Asia-Pacific greenhouse gas emissions, but would have to be raised to three times that level to be in line with a 2C or lower global warming target, according to the International Monetary Fund (IMF).
Read MoreResearchers propose solution for voluntary carbon market’s Paris conundrum
A two-track system for carbon offsetting both within and beyond nations’ Paris Agreement obligations could cut through the ongoing debate on whether to demand corresponding adjustments from host nations or restrict voluntary market activities to non-NDC sectors, according to a recent report.
Read MoreNew Zealand’s Z Energy warns of illiquid ETS, high prices under Commission proposals
New Zealand could face steeply rising carbon prices and an illiquid secondary market for NZUs if the government implements the recommendations from the independent Climate Change Commission as is, fuel supplier Z Energy has warned.
Read MoreEXCLUSIVE: Discredited, ageing Kyoto offsets re-emerge to taint voluntary carbon market
Years after being widely discredited, decade-old Kyoto Protocol offsets from Russia and Eastern Europe are still in circulation in the voluntary carbon market, with nearly 2.6 million sold to companies in the EU and US by an established trading house that said some buyers are seeking the cheapest possible credits.
Read MoreNZ Market: First NZU auction sells out at NZ$36
New Zealand sold all 4.75 million NZUs on offer at its inaugural auction Wednesday, with the sale clearing more than 7% below the secondary market at NZ$36 ($25.90).
Read MorePREVIEW: NZ ETS participants brace for higher prices as auctions begin
Participants in New Zealand’s carbon market are expecting prices to trend higher this year, with this week’s start of allowance auctions heralding a new phase for the 13-year-old ETS.
Read MoreNew Zealand adopts contested CO2 auction reserve price mechanism
New Zealand lawmakers have adopted a confidential reserve price mechanism for carbon permit auctions that observers say creates greater uncertainty and adds unnecessary risk of a failed sale.
Read MoreNZ Market: NZUs steady below NZ$39 with all eyes on first auction
New Zealand carbon allowances have stabilised at a shade below NZ$39 ($27.93) in recent days, as traders show limited appetite to take major new positions ahead of next week’s inaugural auction.
Read MoreStrong rebound risks cancelling out COVID-era emissions drop -IEA
A strong China-led rebound from last year’s coronavirus restrictions pushed global energy-related CO2 emissions above historical levels towards the end of 2020, International Energy Agency (IEA) data showed Tuesday.
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