Topics tagged with 'Carbon prices'
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.
The big firms snapping up Scottish carbon credits
23 Aug 2022
Weapons manufacturers, the oil giant Shell, and financial institutions which poured billions of pounds into fossil fuels are among firms buying Scottish carbon credits, prompting critics to claim the country is experiencing an era of “rampant carbon capitalism”.
EU carbon price hits record
22 Aug 2022
The price of carbon in the EU’s emissions trading system hit a new all-time high on Friday, August 19, as traders warned coal was becoming “re-embedded” in Europe’s electricity generation because of tight supplies of gas.
Australia may be heading for emissions trading between big polluters
19 Aug 2022
Could Australia soon have a form of emissions trading? Yes, if Labor's much-anticipated paper on fixing Australia's mediocre emissions-reduction framework, released yesterday, is any guide.
Democrats jettison carbon pricing in favor of incentives to counter climate change
15 Aug 2022
The US's first comprehensive climate law, expected to be sealed with a vote in the House of Representatives on Friday, will not look anything like the program imagined by either climate economists or those in Washington and the environmental movement who had faith in bipartisan action
Canada’s carbon tax is hurting working people: opinion
11 Aug 2022
In 1912, the fact that excess carbon released into the atmosphere could warm up the earth was first made public knowledge. Here we are, one hundred ten years later, still wondering what to do about the problem.
Chinese companies seek global carbon market for green hydrogen
9 Aug 2022
Three Chinese organisations are leading the charge to create an international carbon market for green hydrogen.
Forestry policy juggling competing priorities
8 Aug 2022
By Ian Llewellyn - Energy & Environment | The finance and expenditure committee has reported back the Overseas Investment (Forestry) Amendment Bill, highlighting the Government’s attempt to grapple with competing priorities in the sector.
India developing a carbon market
5 Aug 2022
India is developing its carbon market by undergoing several climate action plans in just a matter of days. The world’s 3rd-biggest emitter planned to set up a carbon credit market for the hard-to-abate sectors. These would initially include energy, steel, and cement industries.
Future governments could sell offshore carbon credits into ETS
4 Aug 2022
The government could purchase carbon credits from another government and then sell them through the ETS, Climate Change Commission commissioner Catherine Leining told an open Zoom session on Tuesday.
Carbon market wakes from its slumber following Climate Change Commission advice
28 Jul 2022
The price of NZUs on the secondary market reached $82.50 – a jump of close to 13% on its opening price – following yesterday’s release of the Climate Change Commission’s advice to government on the NZ ETS settings.
Climate Change Commission recommends reducing number of NZUs on offer
27 Jul 2022
The Climate Change Commission has recommended the government reduces the number of NZUs on offer at auction and an increase in the trigger price of the cost containment reserve, in advice to the climate change minister released this morning.
Taupo’s carbon bill grows by close to $2 million since 2017
22 Jul 2022
Taupo District Council’s ETS obligations have grown from $75,560 in 2017 to an estimated $2.057 million in the 2022/23 financial year.
Government to slash number of free carbon credits given to industry
21 Jul 2022
The government has announced the first reduction in the number of free carbon credits allocated to trade exposed businesses under the Emissions Trading Scheme in more than a decade.
Five buyers gobbled up 95% of NZUs at June’s ETS auction
18 Jul 2022
The top five participants in June’s ETS auction bought more than 96% of the 6,125,000 NZUs up for grabs, the interim NZETS auction monitoring report reveals.
Kenyan bourse brings carbon exchange to East Africa
14 Jul 2022
Climate change mitigation efforts in Kenya have received new impetus after the Nairobi Securities Exchange (NSE), inked a deal with the AirCarbon Exchange (ACX) and the Nairobi International Finance Centre (NIFC) to set up Kenya’s first carbon offset exchange.
Shanghai to trial personal carbon accounts
8 Jul 2022
China is trying to tap the emissions reduction potential of personal consumption, and package such reductions as a class of carbon asset to be incorporated into the country’s growing carbon market.
Hong Kong launches international carbon council, to support cross-border trading
7 Jul 2022
Hong Kong Exchanges and Clearing Limited, or HKEX, has launched the Hong Kong International Carbon Market Council, the exchange said in a statement late July 5, with developing an international carbon market as its principal focus.
Urban rewilding combats global biodiversity decline
Wed 28 May 2025
Media release | A new study led by the University of Sydney reveals how cities around the world are restoring wildlife to their former habitats in the face of ongoing urban sprawl.
US dairy farmers consider return on climate-smart milk
22 May 2025
The approach is just one of many dairy practices now considered “climate-smart” because they could cut production of climate-warming gases.
Greenwashing is rife in Australia, but could its days be numbered?
Wed 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.
Govt's RMA overhaul sparks fears for nature and climate
Fri 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.
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.
Govt mulls status quo for ETS auction settings
Thu 29 May 2025
By Liz Kivi | The government has released its consultation on the Climate Change Commission’s latest advice on Emissions Trading Scheme auction settings and volumes, putting forward the option to ignore the commission’s advice to boost auction volumes from 2028-2030.
Pacific Island nations support China's Taiwan claims at high-profile foreign ministers' meeting
Fri 30 May 2025
Pacific nations have backed China's claim over Taiwan during a high-profile meeting, but have shied away from directly endorsing Beijing's push to "reunify" the democratically ruled island with the mainland.
Fight over coal mine heats up
Fri 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.
Trump’s actions are already having consequences for climate, especially for the IPCC - expert
11 Apr 2025
Leading climate scientist, Dr Kevin Trenberth, left the US and came home to New Zealand because of the rise of Donald Trump. In this comment piece, he writes that he is appalled in multiple ways by the so-called “war on science” unfolding through staff cuts and the president’s policy edicts.
Owning a green home could cut mortgage payback time by two years
9 May 2025
A green certified home plus a green mortgage and associated energy bill savings could save Kiwi families up to $98,800 over the course of their mortgage - the equivalent of being mortgage-free several years early, according to new research.
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.
Watts talks big on energy reform, but barriers persist
Thu 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.
Could ‘orange’ hydrogen be NZ’s key to net-zero?
Fri 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.
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.
Glacier collapse buries most of Swiss village
Fri 30 May 2025
The Swiss village of Blatten has been partially destroyed after a huge chunk of glacier crashed down into the valley.
Oceans Commission must have teeth – minister
14 May 2025
If an Oceans Commission were to be established under the government it would need genuine powers to make change, says Minister for Oceans and Fisheries Shane Jones.
Water crisis on the horizon?
Mon 26 May 2025
Media release | Sewage contaminating Auckland oyster farms highlights the “dire state” of water infrastructure in Aotearoa, says University of Auckland Associate Professor Daniel Hikuroa.
Why expensive gas – not net-zero – is keeping UK electricity prices so high
Wed 28 May 2025
The UK’s high electricity prices have become intensely political, with competing claims over the cause of rocketing bills and how best to get them down.
Hotter and deeper: how NZ’s plan to drill for ‘supercritical’ geothermal energy holds promise and risk
2 Apr 2025
By David Dempsey, University of Canterbury | New Zealand’s North Island features a number of geothermal systems, several of which are used to generate some 1,000 MegaWatts of electricity. But deeper down there may be even more potential.
Electrification challenge for politicians, regulators
Tue 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.
Nelson backs ‘ambitious’ emissions target, but mayor nervous
Mon 26 May 2025
By Max Frethey, Local Democracy Reporter | Nelson’s mayor has been accused of “pouring cold water” on ambitious greenhouse gas emission targets proposed for the city.
Energy Australia is in court accused of greenwashing. What is the case about and why is it significant?
16 May 2025
Climate group alleges energy giant misled 400,000 customers about ‘Go Neutral’ product, arguing that carbon credits don’t actually remove emissions.
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.
While govt ‘refreshes’ fund for low carbon trucks, are transport emissions set to accelerate?
Wed 28 May 2025
By Liz Kivi | The government has announced it is updating the Low Emissions Heavy Vehicle Fund, however cuts to funds to decarbonise transport in last week’s budget, and potential changes to road user charges, could stall transport emissions reductions.
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.
Kiwi cleantech companies on the world stage
Tue 27 May 2025
Six New Zealand 'cleantech' companies were in Singapore earlier this month, along with a venture capital firm and the MacDiarmid Institute, to meet investors and multinational partners.
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.
New research reveals NZ’s natural resource footprint
Thu 29 May 2025
Media release | New research from the office of the Parliamentary Commissioner for the Environment reveals that about 107 million tonnes of natural resources were required to produce the goods and services consumed by New Zealanders in 2019 – approximately 21 tonnes per person on average.
World’s nations to gather in France to tackle what UN says is a global emergency in the oceans
Fri 30 May 2025
The world’s nations are gathering in France next month to tackle what the United Nations calls a global emergency facing the world’s oceans as they confront rising temperatures, plastic pollution choking marine life, and relentless overexploitation of fish and other resources.
Europe’s next climate target may already have been agreed in Berlin
Wed 28 May 2025
Germany’s new coalition has adopted a climate stance shaped by talks with the EU’s top climate official, signalling where the bloc may land on a likely upcoming 2040 emissions target.
Warm water affecting Antarctica’s largest ice shelf - new research
22 Apr 2025
While Antarctica’s Ross Ice Shelf is currently stable, new research shows warm water is reaching up to 170 kilometres under the front of the ice shelf.
NZ's first chance in 20 years to catch up on waste
Fri 30 May 2025
Media release | The government has announced proposals for updating the Waste Minimisation Act and the Litter Act. For the first time in nearly 20 years, Kiwis have a chance to catch up with other countries to reduce our waste and litter.
Dismissals 'massive win' for climate movement
13 May 2025
The outstanding charges against 25 climate activists who disrupted traffic in Wellington have been dropped, a move the group calls a win for the climate movement.
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.
For the first time, China invests more in wind and solar than coal overseas
Thu 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.
A fungus that can ‘eat you from the inside out’ could spread as the world heats up
Tue 27 May 2025
Infection-causing fungi responsible for millions of deaths a year will spread significantly to new regions as the planet heats up, new research predicts — and the world is not prepared.
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".
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.
More than 1 in 4 cars sold globally in 2025 expected to be EV: IEA report
Mon 26 May 2025
According to the Global EV Outlook 2025 report from the International Energy Agency (IEA), 2025 is set to be big for EV sales. The report predicts that about one in four cars sold worldwide this year will be electric, despite overall market uncertainties.
Brazil seeks early deals on two stalled issues at Bonn climate talks
Mon 26 May 2025
Moving forward work on just transition and implementing recommendations from the Global Stocktake of climate progress are key priorities for upcoming UN negotiations.
Global sea levels rise spelling catastrophe for coastal towns and cities
14 May 2025
For around 2,000 years, global sea levels varied little. That changed in the 20th century. They started rising and have not stopped since — and the pace is accelerating.
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.
NZ moving too slowly to decarbonise – former commission chair
22 May 2025
By Liz Kivi | New Zealand's energy transition is too slow and too controlled by vested interests, according to former Climate Change Commission chair Rod Carr.
