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New Zealand raises expected surplus in meeting 2020 carbon target

Published 08:50 on May 26, 2017  /  Last updated at 12:08 on May 26, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand on Friday released updated estimates on its status towards meeting its 2020 climate pledges, increasing by nearly 5% its forecast overshoot of the goal, which will come largely through the banking of almost 124 million leftover carbon rights from the first Kyoto period.

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NZ Market: NZUs fall to one-year low as national budget disappoints

Published 09:16 on May 25, 2017  /  Last updated at 13:09 on May 25, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances on Thursday retreated to their lowest levels since last June as the government’s annual budget failed to offer any clarity on expected changes to ETS regulations.

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Lawyer up: More lawsuits being filed against governments for climate inaction

Published 22:39 on May 23, 2017  /  Last updated at 00:25 on May 25, 2017  /  Africa, Americas, Asia Pacific, Bavardage, Climate Talks, EMEA, International, New Zealand, Other APAC, US  /  No Comments

Lawsuits seeking to hold governments to account for their climate-related commitments are on the rise, with over 650 filed in the US alone – almost three times the number recorded in the rest of the world.

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Value of world’s carbon pricing schemes edges up year-on-year while govt revenues drop -report

Published 18:10 on May 23, 2017  /  Last updated at 01:24 on May 24, 2017  /  Africa, Americas, Asia Pacific, Australia, Canada, Carbon Taxes, China, China's National ETS, China's Pilot Markets, EMEA, EU ETS, International, Kyoto Mechanisms, Mexico, New Market Mechanisms, New Zealand, Other APAC, South & Central, South Korea, Switzerland, US  /  No Comments

The combined value of the world’s carbon markets and CO2 tax regimes rose by 7% in 2017, with eight new pricing initiatives helping to nearly double the total number over the past five years, but government revenues have dropped by some 15%, according to a new report published Tuesday.

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Brokers advise New Zealand to hedge against rising carbon prices

Published 11:41 on May 23, 2017  /  Last updated at 12:11 on May 23, 2017  /  Asia Pacific, New Market Mechanisms, New Zealand  /  No Comments

New Zealand could save billions of dollars on foreign carbon units by hedging now, for example by buying EU Allowances, instead of waiting until after 2020 when prices are likely to be much higher, according to energy and carbon brokers OM Financial.

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NZ Market: NZUs slip below NZ$17 amid lack of interest

Published 10:25 on May 18, 2017  /  Last updated at 10:25 on May 18, 2017  /  Asia Pacific, New Zealand  /  No Comments

Buyers appear to have deserted the New Zealand carbon market ahead of the May 31 deadline, causing allowances on Thursday to fall below NZ$17 for the first time since early February, while a new market survey showed observers are divided on where prices are likely to go from here.

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NZ Market: New Zealand carbon dips amid lack of compliance demand

Published 09:26 on May 12, 2017  /  Last updated at 13:32 on May 12, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances on Friday closed in the lower end of their recent range as a lack of demand ahead of the upcoming compliance deadline has left the market feeling moribund.

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New Zealand proposes ETS tweaks to avoid double-counting, price distortions

Published 10:45 on May 11, 2017  /  Last updated at 12:24 on May 11, 2017  /  Asia Pacific, New Zealand  /  No Comments

The New Zealand government has proposed a handful of technical fixes to its emissions trading scheme aimed at mending problems that may have led to double-counting for some market participants or caused price distortions for goods containing synthetic greenhouse gases.

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NZ Market: NZUs rangebound amid lack of compliance demand

Published 08:06 on April 28, 2017  /  Last updated at 08:06 on April 28, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon permits have traded in low volumes within a tight range all week as a lack of demand ahead of next month’s compliance deadline has left the market void of momentum.

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Native forests offer offset option for New Zealand emitters -report

Published 08:59 on April 24, 2017  /  Last updated at 08:59 on April 24, 2017  /  Asia Pacific, New Zealand  /  No Comments

Regenerating or planting new native forest can offer a cost-effective option for New Zealand emitters to meet their CO2 targets in future as domestic and international carbon prices are set to increase, a report has found.

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