Topics tagged with 'Carbon prices'
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.
Failed ETS auction sees slight bump in price of NZUs on secondary market
16 Mar 2023
Yesterday’s failed ETS auction saw the price of NZUs jump by a few dollars on the secondary market.
Older Swiss women take government to court over climate
16 Mar 2023
Elisabeth Stern was born in rural northeastern Switzerland in the 1940s in the shadow of huge glaciers.
Washington raises $300M in its first auction for carbon pollution permits – here’s what it means
13 Mar 2023
The results are in for Washington State's first auction of carbon pollution permits. The cap-and-invest program brought in $300 million from many of state’s biggest emitters, including fossil fuel refineries and energy utilities.
Paying ourselves to decarbonise
27 Feb 2023
As we transition to a green economy, we must compensate petro-states for their lost income. Otherwise, the world economy will collapse like a house of cards. Author Kim Stanley Robinson makes the case for a carbon coin.
EU carbon hits record 100 euros as cost of polluting soars
22 Feb 2023
The price of permits on the European Union’s carbon market hit 100 euros (NZ$171) per tonne for the first time on Tuesday, a milestone that reflects the increased costs that factories and power plants must pay when they pollute.
Australian carbon market confusion as offsets take another hit
17 Feb 2023
The Australian Climate Council has called for the federal government to push to pause on new coal and gas projects as debate intensifies over Labor’s proposed safeguard mechanism reforms and as the credibility of carbon offset schemes is once again cast into doubt.
Experts back more robust US estimates of social cost of carbon
15 Feb 2023
Some 400 scientists and climate experts expressed support on Monday for a US government proposal to revise a key metric that estimates the damage from carbon dioxide emissions.
Nine global banks invest $45m in carbon credit platform
9 Feb 2023
Nine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their customers to participate in the market.
Carbon capture only way to stay below 1.5 degrees: James Shaw
23 Dec 2022
Carbon capture is going to have to play role if the world is to keep global warming below 1.5 degrees, climate change minister James Shaw says.
New York adopts cap and trade as a pillar of climate action
21 Dec 2022
Sales of gasoline powered cars would be banned in 2035, natural gas hookups in new homes would be prohibited starting in 2025 and a statewide cap and trade program would be implemented by the end of the decade under the recommendations approved by a New York climate committee Monday.
MfE sees no need to investigate NZU price drop prior to govt announcement
20 Dec 2022
The Ministry for the Environment won’t be investigating a significant drop in the price of NZUs on the secondary market and the first drop in price at an ETS auction since the auctions began.
Cabinet ETS decision a “hospital pass” for incoming government
19 Dec 2022
A former head of the International Energy Agency’s climate change unit has described the Cabinet’s rejection of the Climate Change Commission’s recommended changes to ETS settings as a “hospital pass” for the incoming government.
Price of carbon plummets in response to Cabinet rejection of Climate Change Commission recommendations
16 Dec 2022
By Jeremy Rose | Cabinet has ignored a Climate Change Commission recommendation to significantly increase the trigger price of the cost containment reserve and failed to reduce the number of credits available at auction by as much as the commission proposed.
Biden administration updates social cost of carbon
9 Dec 2022
Amid the flurry of news from the recent UN climate summit COP27, the Biden administration made an overlooked announcement that could help modernize U.S. climate policy.
ETS auction clears at $79.00
7 Dec 2022
The final ETS auction of the year cleared at $79.00 this morning.
Price of carbon down 6.8% over past fortnight
2 Dec 2022
With the final ETS auction of the year set to take place next Wednesday, the price of carbon on the secondary market has dropped by 6.8% since hitting an all-time high of $88.50 on November 14.
EU’s carbon removal certification could be global trend setter after COP delay: expert
24 Nov 2022
If done well, the EU’s new certification for carbon removals, due on 30 November, could provide vital clarity for international discussions following a failure to agree on a key text for removals at the COP27 climate conference, according to Kathy Fallon, director of land and climate at the Clean Air Task Force.
Carbon price hits all time high
15 Nov 2022
The price of carbon has hit new heights on the secondary market this week.
Why it's so hard to put a price on carbon
27 Oct 2022
In the past decade, the phrase “put a price on carbon” has gathered steam around the globe. And carbon pricing has been hailed by scientists, economists, and business leaders as one of the most cost-effective tools to decarbonize economies.
ETS carbon stockpile grows by nearly 8 million tonnes over past year
19 Oct 2022
The stockpile of carbon units in the ETS grew by close to 8 million NZUs from September 2021 to September 2022.
Concerns ETS changes could rapidly accelerate carbon price and risk ‘carbon leakage’
10 Oct 2022
The BusinessNZ Energy Council (BEC) says the Emissions Reduction Scheme should be left to do its job.
Seeing the forest for the trees: government to put brakes on planting exotics
7 Oct 2022
The government has announced consultation on how forests are managed, with a press release making it clear continuing the status quo – which it says would result in the over planting of permanent pine forests – isn’t an option.
Phantom forests: why ambitious tree planting projects are failing
7 Oct 2022
It was perhaps the most spectacular failed tree planting project ever. Certainly the fastest. On March 8, 2012, teams of village volunteers in Camarines Sur province on the Filipino island of Luzon sunk over a million mangrove seedlings into coastal mud in just an hour of frenzied activity.
NZUs down more than 10% on last month’s record high
4 Oct 2022
The price of NZUs on the secondary market have fallen more than 10% since hitting a high of $87.30 on the CommTrade platform in the lead up to last month’s ETS auction.
Consultation on proposals to update ETS unit settings
13 Sep 2022
The government is consulting on proposals to update the Emissions Trading Scheme (ETS) unit settings for the period 2023 to 2027.
New UN global carbon market must involve civil society to serve the climate and local communities
12 Sep 2022
The new body tasked with designing and supervising the global carbon market under the Paris Agreement must put in place environmental safeguards and protect the interests of local and indigenous communities.
Forests make a comeback as African governments look to grow their carbon market
12 Sep 2022
In villages dotted across the African continent, locals living in once-heavily forested regions are starting to find their land in high demand.
Consultations open on ETS forestry cost recovery settings
9 Sep 2022
The Ministry for Primary Industries has opened consultations on proposed changes to the cost recovery settings for forestry in the emission trading scheme.
ETS auction clears at $85.40
7 Sep 2022
Today's ETS auction cleared at $85.40 - a couple of dollars below the spot price being achieved at the close of trade yesterday.
Price of carbon hits record high on eve of 3rd ETS auction of the year
6 Sep 2022
The price of has carbon continued its steady rise, hitting an all-time high of more than $87 at the close of trade yesterday.
Berlin freezes carbon price in the name of crisis relief
6 Sep 2022
The German government will suspend the price increase of its domestic carbon price for one year as part of a €65 billion relief package meant to alleviate the strain of record-breaking energy prices.
Costs associated with carbon emissions three times US govt estimate: study
6 Sep 2022
The social cost of carbon is significantly higher than the federal estimate, according to a study published Thursday in the journal Nature.
Price of carbon nears record high
23 Aug 2022
The price of NZUs on the secondary market is just 25 cents shy of the record high of $86.25 achieved in February.
Govt unveils National Adaptation Framework
Thu 16 Oct 2025
By Shannon Morris-Williams | Minister of Climate Change Simon Watts has revealed the first actions under New Zealand’s National Adaptation Framework, which sets out the Government's approach to the rising risks from natural hazards such as floods and storms.
Where’s Watts? Climate Minister no-show at climate conference
Thu 16 Oct 2025
By Liz Kivi | Opposition parties have slammed the Climate Change Minister’s failure to front up to a major international conference in Christchurch, saying it shows that climate adaptation is a low priority for the National Party.
NZ needs to be part of a regional SAF strategy: Z, Air NZ
9 Sep 2025
By Pattrick Smellie | New Zealand needs to be part of a regional strategic approach to sourcing sustainable aviation fuel (SAF), with domestic production less the aim than ensuring access to the fuel from one of a number of strategically positioned bio-refineries around the world.
Air NZ inks deal for its first internationally verified carbon credits
9 Oct 2025
By Liz Kivi | Air New Zealand has committed to buying 8000 tonnes of carbon removals by 2030, in partnership with local native forest investment platform My Native Forest.
NZ not 'holding the line' on wilding pine management – experts
Wed 15 Oct 2025
By Shannon Morris-Williams | New Zealand is no longer “holding the line” against invasive threats, with the country’s scale, remoteness and rugged terrain making control costly and complex, one expert has said ahead of this week's Wilding Pines Conference.
Researchers say sealing old oil wells with bio-oil from crop waste is a dual carbon-removal solution
19 Sep 2025
A new analysis shows that oil made from corn husks, wood chips, and other waste could plug greenhouse gas-belching abandoned oil wells while sequestering carbon for about $152 per ton.
Broker predicts all this year’s carbon auctions will fail
10 Oct 2025
By Liz Kivi | Marex New Zealand is forecasting that the government will sell no ‘pollution permits’ at the NZU auctions this year, with a significant gap continuing between secondary market prices and this year’s $68 auction floor price.
Record global renewable energy growth remains short of climate target, report says
Thu 16 Oct 2025
A new report finds that a record amount of global renewable energy capacity was added last year, but that still leaves countries “short of targets towards meeting a UN climate goal to triple capacity by 2030”.
Electricity to remain in ETS
1 Oct 2025
By Pattrick Smellie | The Government has rejected Frontier Economics' recommendation that electricity should be removed from the Emissions Trading Scheme.
The merchants of doubt are back
3 Sep 2025
OPINION: If you don’t follow climate policy closely, you might not know that the Trump administration is launching an effort to overturn one of the most fundamental pillars of American climate policy.
Milestone for NZ Steel electrification
10 Sep 2025
By Pattrick Smellie | NZ Steel has passed an installation milestone for its new electric arc furnace, which will reduce emissions from the Glenbrook steel mill site by as much as one megatonne (1Mt) a year.
UN limits staff at COP30 climate summit over accommodation concerns
19 Sep 2025
High hotel prices for Brazil's COP30 climate summit in November have prompted the United Nations to urge its staff to limit attendance, while government delegations are still scrambling to find rooms within their budgets.
Will govt’s light touch approach lead to higher carbon prices?
3 Oct 2025
By Liz Kivi | Carbon market watchers are hoping the government’s plan for the electricity sector will eventually lead to higher carbon prices, with the secondary market still trading sideways for the longest time in its history.
Unlocking the national potential of flexible energy use through residential appliances – EECA calling for submissions
Thu 16 Oct 2025
Media release | EECA is asking for feedback from the energy sector on a newly published green paper about unlocking the potential of demand flexibility through end-use products, such as appliances, used in New Zealand homes.
From nuisance to crisis: New report on pest wasps In Aotearoa
24 Sep 2025
Media release: Moths and Butterflies NZ Trust | Just published is the Final Report of the Pest Wasps Survey carried out by the Moths and Butterflies of NZ Trust (MBNZT) offering a comprehensive look at New Zealanders’ awareness, experiences, and attitudes toward wasps and the growing ecological, health, and social issues associated with them.
NZ marine heatwaves could double in intensity under high-emissions pathway
Thu 16 Oct 2025
By Shannon Morris-Williams | New projections show marine heatwaves will grow more intense around the North Island and more frequent around the South Island as the climate warms – raising risks for fisheries, aquaculture, coastal ecosystems and tourism.
Northland builds momentum on climate resilience and adaptation
Mon 13 Oct 2025
By Shannon Morris-Williams | Northland Regional Council’s Annual Report cites major gains in climate action – highlighting stronger flood resilience, an expanded Climate Resilient Communities Fund, and a region-wide adaptation strategy.
World falling far behind deforestation goals with farms and fires driving loss, report says
Wed 15 Oct 2025
The report said the world permanently lost 8.1 million hectares (20 million acres) of forest, an area about the size of England, in 2024 alone.
‘Damp squib’ – Govt energy plan slammed for locking in fossil fuels
2 Oct 2025
By Shannon Morris-Williams | Critics across business, climate groups and the opposition say the Government’s electricity reforms duck structural change, double down on LNG and gas, and offer little relief for soaring power prices – warning of an “expensive white elephant", deeper energy poverty and a missed chance to scale renewables.
RMA to speed up fossil fuel consents
18 Aug 2025
By Liz Kivi | An energy lobby group has welcomed a last-minute amendment to the RMA that puts fossil fuels on the same footing as renewables, however a sustainable energy expert says the move “beggars belief.”
Climate investment is only growth opportunity of 21st century, says leading economist
Wed 15 Oct 2025
Investment in climate action is the economic growth story of the 21st century, while growth fuelled by fossil fuels is futile because the damage it causes ends in self-destruction, the economist Nicholas Stern has said.
NZ’s biggest ever climate meeting kicks off
Tue 14 Oct 2025
By Liz Kivi | The world's largest climate adaptation conference kicked off in Christchurch yesterday, with nearly 2000 attendees expected, making it potentially the biggest international climate meeting Aotearoa New Zealand will ever host.
Climate credibility gap widening for Aussie firms
1 Oct 2025
By Pattrick Smellie | Australian public companies’ climate change commitments are in retreat, reflecting difficulty in achieving stated targets and increased fossil use, but not because of any pressure to make less effort, according to a study of major companies’ ESG reporting.
Coal imports up 650%
12 Sep 2025
By Shannon Morris-Williams and Liz Kivi | Coal imports are up 650% as generators stockpile the most polluting fossil fuel ahead of next winter.
Hiringa eyes green methanol plant near Whanganui
29 Jul 2025
By Pattrick Smellie | Green hydrogen pioneer Hiringa Energy is deep in planning to develop an “eight-to-nine figure” methanol plant near Whanganui, using a combination of biomass and hydrogen produced using renewable energy.
Study warns climate leadership falling short in NZ
1 Oct 2025
Media release - Waipapa Taumata Rau, University of Auckland | Research suggests New Zealand’s climate leadership is falling short, with current adaptation efforts focused on property and cost-cutting rather than protecting communities.
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.
In China, climate litigation starts with the state
Thu 16 Oct 2025
With thousands of dedicated courts and more than a million recent cases, environmental and climate litigation is booming in China, but it often looks different to the trend seen elsewhere.
'Non-negotiable' – EU carbon pricing to hit Kiwi exporters, expert warns
11 Sep 2025
By Shannon Morris-Williams | High carbon exports will inevitably face a high carbon tax at the EU border, possibly in the next five years, and high methane agricultural products might not be exempt, an international expert told a local audience yesterday.
Deep sea mining threatens sharks, rays and ghost sharks
6 Oct 2025
Mining the world’s deep seas for metals will likely threaten many species of sharks, rays and chimaeras (ghost sharks), according to researchers.
New decision-making process for erosion-prone Tairāwhiti
8 Oct 2025
‘Deliberative democracy’ and collaborative decision-making are behind big changes that Gisborne District Council has endorsed to transform Tairāwhiti/Gisborne’s erosion-prone land in the face of worsening climate change.
NZ's latest climate target 'weak' – Climate Action Tracker
24 Jun 2025
By Shannon Morris-Williams | New Zealand's new international climate target to 2035 is weak, and could even allow for higher emissions than the 2030 target, according to a global scientific project that tracks government climate action.
‘Weird and sad’ – Tuvalu Climate Minister condemns NZ halving methane target
Wed 15 Oct 2025
By Liz Kivi | Dr Maina Talia, Tuvalu’s Minister for Home Affairs, Climate Change, and Environment, says he’s surprised at New Zealand’s decision to weaken its target for reducing methane emissions – and is planning to take up the issue with his counterpart Climate Minister Simon Watts this week.
Govt releases updated emissions projections
Mon 13 Oct 2025
By Liz Kivi | The Ministry for the Environment has released updated emissions projections to 2050, which show significant differences to the Climate Change Commission's recent projections for the same period.
Bottom trawling a triple threat to marine environments - new report
9 Oct 2025
Media release | Greenpeace is calling for urgent action to restrict bottom trawling after a new government report highlights the compounding effects this destructive fishing method has on climate change, habitat degradation and biodiversity loss.
Lobby group launches ‘blueprint’ for ocean management reform
18 Sep 2025
The Environmental Defence Society yesterday released its plan to tackle widespread ecological decline in our oceans.
Who pays – and who makes them pay – for climate adaptation?
Wed 15 Oct 2025
By David Hall | COMMENT: How do you make a person, or organisation, invest in climate adaptation?
Students repeat request for Victoria University to divest from fossil fuel investments
24 Sep 2025
Media release | A group of students campaigning for climate action at Victoria University of Wellington have dropped a banner protesting against the university’s lack of action on its 2014 commitment to divest from fossil fuels.
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.
Lightyears secures funding for solar farm portfolio expansion
Wed 15 Oct 2025
Media release | Solar farm developer, Lightyears, has refinanced with Australian renewables lender, Infradebt, to take their portfolio of solar farms to 27MW, split across five farms. Three farms are already operational and two more are under construction.
Solar households to get little-noticed tax break
23 Sep 2025
A provision in the government’s latest tax bill would exempt households from paying tax on income they earn by selling excess electricity back to the grid.
Auckland Transport and Kinetic charging ahead for sustainability
30 Sep 2025
Media release | Auckland Transport (AT) and bus operator Kinetic and have taken another step in their decarbonisation journeys with major upgrades completed at Kinetic’s Glenfield bus depot to support a growing zero emissions fleet.
Last minute change to oil and gas legislation over cleanup costs
31 Jul 2025
By Liz Kivi | The government is expected to repeal the oil and gas ban today, with a last-minute amendment handing discretionary power to two ministers over the controversial issue of decommissioning.
Nations meet to consider regulations to drive a green transition in shipping
Wed 15 Oct 2025
The world’s largest maritime nations gathered in London to consider adopting regulations that would move the shipping industry away from fossil fuels to slash emissions.
Fix it, don't ditch it: University of Auckland hosts first Repair Cafe
9 Oct 2025
Media release - Auckland University | The University's first-ever Repair Cafe is bringing students and staff together to give broken items a new lease on life, while promoting a culture of repair and reuse.
Farmers face heightened solvency risks as climate changes: research
10 Oct 2025
By Pattrick Smellie | Increasingly volatile weather patterns, higher insurance costs driven by climate change risk and global financial volatility represent risks to New Zealand farmers’ capacity to service debt and remain solvent, according to new research by Christchurch-based research firm Kōmanawa Solutions.
‘Con,’ ‘scam,’ ‘hoax’: Trump’s UN speech on climate
24 Sep 2025
The president used a large chunk of his hour-long speech to world leaders to condemn climate science and clean energy policies.
Trump administration moves to revoke permit for Massachusetts offshore wind project
24 Sep 2025
The Trump administration has moved to block a Massachusetts offshore wind farm, its latest effort to hobble an industry and technology that President Donald Trump has attacked as “ugly” and unreliable compared to fossil fuels such as coal and natural gas.
