Topics tagged with 'Carbon prices'
Massive native reforestation project proposed
29 Nov 2023
By Jeremy Rose | New Zealand could go from being a buyer of offshore carbon credits to an exporter of offsets, according to the promoters of an ambitious plan to reforest and restore 2.1 million hectares of indigenous forests over the next 10 years.
Incoming govt might face $24 billion climate bill
28 Nov 2023
By Liz Kivi | The new government has a major task ahead to deliver on the country’s international obligations for emissions reductions, with implications for international trade if targets aren’t met.
New govt cans ETS review, climate and environment ministers outside cabinet
27 Nov 2023
By Liz Kivi | The new National-led coalition government has dumped the current review of the Emissions Trading Scheme, and appointed climate and environment ministers outside cabinet.
Carbon price steady amidst political uncertainty
16 Nov 2023
The carbon price has pushed through the $70 mark over the last past two months, from a low of $64 in late September to a high last week of $71.25.
ETS participants relying on banked NZUs
16 Nov 2023
NZ ETS participants stockpiling NZUs for future liabilities, uncertainty concerning changes to the regulatory framework, and the looming general election all contributed to ETS auctions failing to clear this year, according to Ministry for the Environment briefing papers released under the OIA.
Aotearoa could make a real impact on cutting greenhouse gas emissions internationally: Thomas Pogge
7 Nov 2023
By Jeremy Rose | The director of Yale University’s Global Justice Program, Thomas Pogge, says for a relatively small investment of, say, US$100 million, New Zealand could make a significant impact on cutting the greenhouse gas emissions of the developing world.
Proposal to include non-forestry land in NDC calculation
25 Oct 2023
By Jeremy Rose | A Cabinet minute from July of this year agreed in principle to include non-forest land in New Zealand’s nationally determined contribution.
Australian carbon price set to double
17 Oct 2023
Analysts say Australia’s carbon price is set to double, with reforms underway affecting industrial greenhouse gas emitters who are responsible for about 28% of the country’s emissions.
Salt CO2 fund continues to acquire its own units
16 Oct 2023
The Salt CO2 fund is continuing to purchase its own units but is undecided how it will dispose of its growing stockpile of treasury stock.
Likely ETS auction failure will eat into stockpile
29 Sep 2023
The likely failure of the final ETS auction of the year in December would result in a significant chunk of the current stockpile evaporating.
CO2 fund gobbling up its own product
28 Sep 2023
Salt Management's Carbon Fund spent more than $1.2 million buying units in its own fund over the last month.
Carbon price hovers around $73
13 Sep 2023
The NZU price is up $2 since early last week, with a price bump both before and after last week’s auction.
Third consecutive ETS auction fails
6 Sep 2023
Today’s ETS auction has been declined because the clearing price did not meet the minimum price settings, with no winning bids as a result - and an increasing likelihood that the December auction will also fail.
Carbon price up ahead of Wednesday auction
4 Sep 2023
The carbon price pushed through the $70 mark at the end of last week, last fixing at $71 on Commtrade on Friday. It has climbed $6 in the past two weeks to its highest point since February - more than double the price just two months ago.
Concerns around NZU reporting
1 Sep 2023
Emissions Trading Scheme participants are calling for better accuracy and transparency in NZU movement reporting, after two reporting glitches have led to serious questions.
National’s climate “dividend” isn’t really a dividend - and could increase emissions
31 Aug 2023
By Liz Kivi | Yesterday the National Party announced a “climate dividend” amid much fanfare as part of its $14.6 billion package of tax cuts.
IMF warns NZ at risk of failing international emissions obligations
29 Aug 2023
The International Monetary Fund says New Zealand must do more to meet its Nationally Determined Contribution (NDC) for 2030, and is off track to meet its international obligations.
Analysts predict carbon price will hit $140 by 2050
25 Aug 2023
Analysts are predicting the spot price of NZUs will rise to $150 by 2050 - a level they say will negatively affect some of New Zealand’s big energy gentailers and encourage behavioural change from carbon polluters.
Will tightening voluntary carbon market regulations combat corporate greenwashing?
24 Aug 2023
Carbon credits are made to be interchangeable, but while some have impressive effects, others have been found to be worthless.
Secondary carbon market “pops” to 5-month high, ETS announcement later today
22 Aug 2023
The NZU price hit a 5-month high late last week, trading as high as $66.50 on Friday - up 10% for the week.
Carbon price fluctuates with potential for more volatility
2 Aug 2023
It’s been a big week for NZUs on the secondary market, with the price rising almost $18 to $65 on Wednesday last week, hovering around $60 for several days, but then dipping below the $60 mark.
Govt U-turn adopting Commission’s advice on ETS auction settings
26 Jul 2023
The government has adopted the Climate Change Commission’s advice on ETS auction settings from December, with a significantly higher floor price, lower auction volumes, and two-tiers of much higher prices for the cost containment reserve.
Carbon price bounces but how high will it go?
26 Jul 2023
Pundits are picking the government’s decision to adopt most of the Climate Change Commission’s ETS recommendations, rejected by Cabinet last year, will result in a sustained increase in the price of carbon. But few expect it to return to the $88.50 high of last November anytime soon.
Govt signals ETS announcement, market “drifting”
25 Jul 2023
The Ministry for the Environment has signalled it will make an announcement about the Emissions Trading Scheme tonight, after the market closes.
Carbon price jumps 30%
19 Jul 2023
The price of NZUs on the secondary market has rebounded since last week’s unexpected revelation that the government would be forced to change Emissions Trading Scheme settings.
Carbon price crashes, “split market” developing
7 Jul 2023
The carbon price dropped to a two-year low this week, and insiders say a split market is developing, with lower prices for forestry-derived NZUs.
Forestry investment at risk, along with climate targets
4 Jul 2023
By Liz Kivi | Foresters may lose their businesses if the carbon price stays low, with contractors already losing their jobs.
NZU spot price drops further
29 Jun 2023
The price of NZUs on the secondary market is in freefall following the government’s consultation announcement on ETS settings and restrictions on permanent forestry.
Carbon price plummets: what does ETS review mean for future prices?
22 Jun 2023
By Liz Kivi | The carbon price on the secondary market has slumped to its lowest point since 2021 in the wake of the government’s ETS announcement, after rallying briefly following last week’s failed Emissions Trading Scheme auction.
What counts as a carbon credit?
20 Jun 2023
A new UN draft report threatens to sideline billions of tons of future carbon removal.
Institutions warm to carbon trading even as questions linger
16 Jun 2023
Singapore's bid to become a carbon trading hub raises questions about the verification and pricing methods involved.
What the EU’s new border tax could mean for carbon markets
16 Jun 2023
The European Union’s new Carbon Border Adjustment Mechanism should incentivize more countries to put a price on carbon, but not the U.S.
ETS auction fails to clear
14 Jun 2023
Today’s ETS auction has been declined because the clearing price did not meet the minimum price settings. As a result, there are no winning bids.
The Transatlantic carbon-pricing clash
14 Jun 2023
Economists have long argued that regulation alone cannot bring about the reduction in global greenhouse-gas emissions that is needed to curb climate change; a carbon price is also essential.
Failure is not an auction
9 Jun 2023
By Nigel Brunel | COMMENT: All eyes will be on the second auction on Wednesday, 14th June, when almost nine million tonnes are up for grabs, including eight million NZUs in the Cost Containment Reserve (CCR). The CCR can only be triggered at $80.64 if all the auction volume is exhausted.
Best by the rest...
9 Jun 2023
In our weekly round-up of the best climate coverage in local media: Climate scientist James Renwick says, on a finite planet, never-ending growth of anything is unsustainable; National says He Waka Eke Noa is “dead”; and Taranaki council wants seabed mining banned.
What if all auctions fail this year? Does the Registry oversupply problem disappear?
8 Jun 2023
By Nigel Brunel | COMMENT: All 2023's ETS carbon auctions failing is one of many scenarios for NZU prices in the next 12 months. But it could go a long way to solving the registry oversupply if it happens.
Price collapse causes 20% loss for carbon fund
29 May 2023
Carbon prices collapsed at the end of 2022, causing more than 20% loss to Salt Management’s carbon fund in the 12 months to March.
Govt, NZ Steel to take action towards a low emissions economy
22 May 2023
The government will invest up to $140 million to subsidise one of the country’s largest greenhouse gas emitters, making it New Zealand’s biggest decarbonisation plan to date.
NZ ETS consultation launched
22 May 2023
The NZ government announced a four week consultation on proposals to update “unit limits and price control settings for the New Zealand Emissions Trading Scheme (ETS)”.
Government in the dock over ETS decisions
10 May 2023
Lawyers for Climate Action New Zealand (LCANZI) has filed high court proceedings challenging Cabinet’s rejection of the Climate Change Commission’s advice on the emissions trading scheme settings.
Market indifferent to commission’s advice
3 May 2023
By Jeremy Rose | Last Wednesday, journalists covering the release of the Climate Change Commission’s draft advice on the second emissions plan had to surrender their cellphones during a seven-and-a-half hour lock-up, and were under a strict embargo to coincide with the closing of the secondary carbon market.
Carbon auction clearing price well below confidential reserve
1 May 2023
The last carbon auction clearing price was 30% lower than the spot price at the failed March 15 auction.
Europe's ETS sets tougher target
27 Apr 2023
EU countries have given the green light to the biggest overhaul to date of the bloc’s carbon market, raising costs for polluting industries and increasing its emissions reduction target from 43% to 62% by 2030.
NZ might face $24 billion pricetag for offshore carbon credits to 2030: Treasury
11 Apr 2023
New Zealand might be facing a $24 billion bill to meet its international obligations for carbon emission reductions to 2030, according to a new report.
Best by the rest...
6 Apr 2023
In our weekly round-up of the best climate coverage in local media: The finance minister seeks advice on the ETS as carbon prices plummet; National’s climate policy is under scrutiny; and kaitiakitanga as climate action.
Voluntary carbon markets give a pittance of the proceeds to global south
4 Apr 2023
The voluntary carbon market is under scrutiny once again. Follow the Money has written an expose on South Pole, the globe’s largest seller of carbon credits.
Minister warns Canadians may pay more in carbon tax than they receive in rebate
3 Apr 2023
Canada’s environment and climate change minister acknowledged that the average household may eventually pay more for the carbon price than it gets back in rebate payments, but says the Liberal government has other programs to help Canadians lower their energy costs overall.
Price of NZUs at 18-month low
29 Mar 2023
The price of NZUs has dropped to an 18-month low after a short-lived jump following the failed carbon auction on March 15.
How flying can be a climate solution
Mon 16 Jun 2025
By Paul Callister and Robert McLachlan - Planetary Ecology | How can aviation contribute to tackling climate change when no practicable technology-based solutions are on the horizon?
Forestry consents and relaxed rules in erosion zones sow seeds of future disaster
Fri 13 Jun 2025
OPINION: The government’s move to restrict exotic forestry on our best food-growing soils will push even more forestry investment onto high erosion risk land on the East Coast, with the worst land becoming the only land left for the most intensive and destructive land use, writes Manu Caddie
Greenwashing is rife in Australia, but could its days be numbered?
28 May 2025
COMMENT: Have you ever ticked the box to “fly carbon neutral”, had something delivered via “carbon-neutral shipping” or chosen to pay a bit extra to buy “carbon-neutral gas” from your energy retailer?
Help sustainable aviation fuels take off or delay targets, airlines warn EU
20 May 2025
Earmarked funding, risk-reduction tools, and simplified imports top Airlines for Europe’s wish list for the EU’s upcoming Sustainable Transport Investment Plan.
'Time is right' for nature credits
Fri 13 Jun 2025
Media release | Sanctuary Mountain Maungatautari and Ekos are thrilled to be partnering with central government on the development of a voluntary Nature Credits Market pilot programme, announced by Associate Minister for the Environment Andrew Hoggard yesterday.
Sustainability claims questioned as renewable diesel surges
14 May 2025
Critics are sceptical about industry claims of renewable diesel life-cycle greenhouse gas emission cuts and warn renewable diesel carbon releases will surge if sourcing is scaled up, triggering tropical deforestation as producers convert forests to energy crops, such as oil palm and soy.
Carbon auction odds-on to fail
Fri 13 Jun 2025
By Liz Kivi | The carbon price has rallied slightly in recent weeks, however with secondary market prices still hovering around the $57 mark, well below this year’s $68 auction floor price, next week’s Emissions Trading Scheme auction looks set to fail.
World leaders’ failure to act is pushing Earth past 1.5°C
Mon 16 Jun 2025
Based on mounting evidence, some scientists now fear we’ve entered a new era of the climate emergency, characterized by accelerated warming and amplified disasters.
China's approvals of coal power plants grow after 2024 decline
Wed 11 Jun 2025
China approved 11.29 gigawatts of new coal power plants in the first three months of 2025, already exceeding the 10.34 GW approved in the first half of 2024.
A credible UN carbon market needs rules that count – we’ve just set them
Wed 11 Jun 2025
COMMENT: The broad standards for a more ambitious market are now in place. But without a steady flow of investment, this progress will remain largely on paper.
Common low-grade clay strengthens low-carbon concrete
5 Jun 2025
Media release | Engineers at RMIT University have converted low-grade clay into a high-performance cement supplement, opening a potential new market in sustainable construction materials.
Cuts to climate finance put exports in jeopardy: Lawyers
23 May 2025
By Liz Kivi | The government has halved international climate finance, a move aid organisations describe as “devastating,” and which lawyers say could put our Paris Agreement commitments and export market access at risk.
Legal experts sue Climate minister over ‘glaring holes’ in climate plan
Wed 11 Jun 2025
By Liz Kivi | Legal experts are taking the government to court over its Emissions Reduction Plan, alleging it fails to fulfil basic requirements of the law – with one of the arguments focussing on an over-reliance on tree-planting.
Electric firebricks: decarbonising high-temperature industrial heat
Fri 13 Jun 2025
By Ian Mason | A new technology could offer a more cost-effective solution than hydrogen to decarbonise one ‘hard-to-abate’ sector of New Zealand’s economy, as well as having ample potential for demand response as the electricity grid becomes more renewable.
Govt budgets $200m for would-be gas investors
23 May 2025
By Liz Kivi | Energy Resources Aotearoa has welcomed the government's plan to co-invest $200 million in fossil gas expansion, while environmental and climate groups have reacted with horror.
Extreme ocean warming engulfed South-West Pacific in 2024
6 Jun 2025
By Shannon Morris-Williams | Unprecedented ocean warming engulfed the South-West Pacific in 2024, with extreme heat and rainfall causing deadly and devastating impacts and sea level rise threatening entire islands.
Government undermines regional powers to protect coastal biodiversity
Mon 16 Jun 2025
Media Release | The Environmental Defence Society opposes the Government’s decision to press ahead with amendments to the Resource Management Act that severely curtail the ability of regional councils to manage the impacts of fishing on coastal marine biodiversity.
UN University report warns against carbon credits from REDD, tree planting, and improved forest management
Fri 13 Jun 2025
But the report stops short of recommending banning the trade in carbon temporarily stored in trees.
Labor accused of ‘gaslighting’ Australians on climate crisis as fossil fuel projects keep getting approved
9 Jun 2025
‘They offer sympathy and then just go and approve massive fossil fuel projects anyway,’ one advocate says.
Watts talks big on energy reform, but barriers persist
29 May 2025
By Shannon Morris-Williams | Energy and Climate Change minister Simon Watts says the government is doubling down on efforts to boost renewable energy generation, streamline regulation, and drive private sector investment as New Zealand faces mounting energy security and affordability challenges.
Electrification challenge for politicians, regulators
27 May 2025
Rewiring Aotearoa is calling for stronger political leadership to bring its vision of a cheaper, cleaner and stronger energy system to life, with the launch of its policy manifesto today.
As methane climate impacts soar, NGOs, scientists, and advocates launch campaign to 'pull the methane emergency brake'
Fri 13 Jun 2025
Media release | International NGOs, scientists, and climate advocates are launching a global campaign calling for deep, rapid, mandatory cuts in methane emissions as the best way to lower near-term global temperature rise.
Govt uses climate change as ‘Trojan horse’ for other objectives
10 Jun 2025
By Shannon Morris-Williams | The Waitangi Tribunal has heard that the New Zealand Government’s international trade and investment agreements are failing to meet Tiriti o Waitangi obligations in the context of climate change – prioritising commercial interests while sidelining Māori rights and worldviews.
Methanex closure comes early this year
14 May 2025
The almost-now-annual closure of Methanex has come earlier this year, giving more confidence that the electricity system will get through the winter without a fuel shortfall.
What happened to the hydrogen economy?
3 Jun 2025
The hydrogen car that was supposed to carry us into a cleaner future is still not in the driveway. In fact, outside of a few test markets, it’s not in anyone’s driveway.
Climate change could drive surge in foreclosures and lender losses, new study finds
22 May 2025
Extreme weather linked to climate change could spell financial ruin for many American homeowners and lead to billions in losses for lenders, a new study finds.
Will NZ walk away from the Paris Agreement?
20 Dec 2024
By Geoff Bertram | COMMENT: Unless the government can find very cheap offshore mitigation, the temptation to walk away from its Paris Agreement obligations may well be too strong to resist for a coalition government focused on fiscal austerity.
Energy Australia apologises to 400,000 customers and settles greenwashing legal action
22 May 2025
Energy retailer says carbon offsetting ‘not the most effective way’ to reduce emissions.
Could ‘orange’ hydrogen be NZ’s key to net-zero?
30 May 2025
By Liz Kivi | New Zealand could be sitting on resources for a thriving multi-billion-dollar, low-carbon hydrogen economy, which might even be capable of creating a net reduction of carbon dioxide, according to scientists.
Carbon News launches price index
24 Jun 2024
Today’s issue is the first to feature Carbon News’ own carbon price index for secondary market spot prices for NZUs on New Zealand’s compliance market.
Tribunal asked to halt seabed mine fast-track
Mon 16 Jun 2025
By Craig Ashworth, Local Democracy Reporter | South Taranaki hapū want the Waitangi Tribunal to halt a fast-track bid to mine the seabed off Pātea.
Foresters baulk at restrictions, land ballots
Wed 11 Jun 2025
By Liz Kivi | Forestry groups say that new legislation will introduce further uncertainty for planting plans and poses a threat to climate targets.
Ocean current ‘collapse’ could trigger ‘profound cooling’ in northern Europe – even with global warming
Fri 13 Jun 2025
A “collapse” of key Atlantic ocean currents would cause winter temperatures to plunge across northern Europe, overriding the warming driven by human activity.
Fight over coal mine heats up
30 May 2025
Forest & Bird is calling on the government to create a new scientific reserve covering the Denniston Plateau on the West Coast, which would stop a fast-tracked coal mine.
Microplastics found in sand on dozens of NZ beaches
4 Jun 2025
Scientists have extracted microplastics from the sand of 22 beaches from the Far North to Banks Peninsula.
Legislation introduced to restrict farm-to-forest conversions
10 Jun 2025
Agriculture and Forestry Minister Todd McClay has today introduced a bill to Parliament that he says will put a stop to large-scale farm-to-forestry conversions.
Israel deports activist Greta Thunberg after military seized Gaza Freedom Flotilla ship
Thu 12 Jun 2025
Israel deported activist Greta Thunberg on Tuesday, the country's Foreign Ministry said, a day after the Gaza-bound ship she was on with 11 other people was seized by the Israeli military.
Straterra has a new name: the New Zealand Minerals Council
16 Apr 2025
Media release | Straterra has been renamed as New Zealand Minerals Council, says chief executive Josie Vidal.
Could Queenstown become the world’s most electric city?
Wed 11 Jun 2025
By Shannon Morris-Williams | Queenstown is set to become the focus of an ambitious initiative aiming to transform it into the world’s most electrified destination.
Climate progress slowing, says Auckland councillor
5 Jun 2025
By Shannon Morris-Williams | The devastating cyclone that tore through Tāmaki Makaurau in 2023 left behind more than just broken infrastructure, sparking calls to focus on facts over ideology in the fight against climate change.
Green budget 'ludicrous la-la land' – govt
15 May 2025
Prime Minister Christopher Luxon said the budget was "clown show economics" and an "absolute circus".
Biochar's negative emissions tech coming to Fieldays
6 Jun 2025
Biochar Network New Zealand will showcase its negative emissions technology biochar at this year's Forestry Hub at Fieldays 2025.
United Nations carbon market rules agreed but concerns remain
25 Nov 2024
New carbon market rules agreed at the fractious UN climate summit will be a relief to New Zealand and Singapore, who were leading the negotiations, but concerns about greenwashing and disadvantaging nature-based solutions remain.
“It’s not the car – it’s how we move” – EECA
3 Jun 2025
By Shannon Morris-Williams| New Zealand’s transport emissions conversation has focused heavily on electric vehicles – but Richard Briggs, group manager, delivery and partnerships at the Energy Efficiency and Conservation Authority, says we’re asking the wrong question.
Rapid action vital following UN Ocean Conference – experts
Thu 12 Jun 2025
New Zealand-based experts are calling for rapid and transformative action to restore nature - and our relationship with it - at the third UN Ocean Conference in France this week.
Waste Levy risks becoming ‘slush fund’ under proposed changes – Commissioner
5 Jun 2025
By Shannon Morris-Williams | Proposed changes to New Zealand's waste legislation risk undermining public trust in the waste levy scheme, according to Parliamentary Commissioner for the Environment Simon Upton.
Govt's RMA overhaul sparks fears for nature and climate
30 May 2025
By Shannon Morris-Williams | The Government has opened public consultation on the biggest overhaul of environmental planning rules in New Zealand’s history, with critics warning it puts nature and climate at risk in favour of fast-tracked development and industry expansion.
Tropical forest loss hit new heights in 2024; fire a major driver in Latin America
23 May 2025
Tropical forest loss skyrocketed in 2024, with vast swaths of primary forest consumed by fire, according to new satellite data.
For the first time, China invests more in wind and solar than coal overseas
29 May 2025
China’s Belt and Road Initiative, long derided for its heavy carbon footprint, was dominated by wind and solar power projects for the first time from 2022 to 2023, according to a new analysis. But coal plants financed in earlier years are still coming online.
