Free NZU allocation to New Zealand’s largest gas user distorting the market, report says
The free allocation of New Zealand Units (NZUs) to methanol producer Methanex could be keeping its facility afloat, but is distorting the dynamics of the country’s emissions trading scheme, a report said Tuesday.
Read MoreNew Zealand confirms new ETS forestry charge
The New Zealand government confirmed Tuesday it will set the annual charge for forest owners in the country’s emissions trading scheme (ETS) to NZ$14.90 ($8.60) per hectare.
Read MoreNew Zealand’s Fonterra to switch out coal for 9% emissions drop
Dairy giant Fonterra has announced a new decarbonisation project to convert two coal-fired boilers to using low-carbon wood pellets at its South Island operations in South Canterbury, New Zealand expected to make a significant dent in its emissions.
Read MoreNZ Market: NZU price rebounds as report reveals underlying ETS tension
The spot price for NZUs recovered slightly Wednesday, as research revealed greater tension in the emissions trading scheme (ETS) than current prices might suggest.
Read MoreINTERVIEW: Climate plan will force New Zealand to rely more on overseas carbon credits
The New Zealand government’s second Emissions Reduction Plan (ERP) means it will have to rely more on overseas carbon credits to meet its 2030 Nationally Determined Contribution (NDC), according to Labour Party MP and spokesperson on climate change Megan Woods.
Read MoreNew Zealand resists major changes in latest emissions reduction plan
New Zealand on Wednesday released its final emissions reduction plan for 2026-30, sticking to the same target budget as in the July draft despite coming under criticism for it.
Read MoreNew Zealand advised to set up biodiversity credit market
Launching a biodiversity credit market is among actions New Zealand should take in order to scale investments in nature-based solutions (NbS), according to a global consultancy.
Read MoreNZ Market: NZU secondary price retreats as emitters well-supplied
The price of NZUs has slid back noticeably since last week’s auction, as market observers note the healthy volumes traded in the lead up to the sale means the market is well-stocked.
Read MoreNew Zealand climate commission pushes net negative 2050 target
New Zealand’s Climate Change Commission (CCC) has called for more severe emissions reductions across all sectors in its updated advice to government published Thursday, while recommending shipping and aviation emissions to be included in a net negative 2050 target.
Read MoreAustralian outfit finds biodiversity credit demand in carbon partnership
An Australian project developer has sold 70,000 biodiversity credits over the past three months after striking a partnership with a carbon credit supplier to combine offerings.
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