Topics tagged with 'Emissions trading'
Carbon price up but June auction still tipped to fail
Thu 15 May 2025
The carbon price has recovered somewhat as forestry selling eases, however NZUs are still changing hands on the secondary market at well below the $68 auction floor.
Greens promise to rapidly reduce emissions in new Green Budget
Wed 14 May 2025
By Shannon Williams | The Green Party has unveiled its alternative Green Budget, promising bold investments to tackle the climate crisis and deliver cleaner air, water, and soil.
Govt needs to get moving to deliver international climate target says commission
Mon 12 May 2025
By Liz Kivi | The Climate Change Commission is warning that “time is running short” for the government to deliver on its international climate target.
Farming lobby attacks ‘loopholes’ in carbon forestry limits
7 May 2025
Beef + Lamb New Zealand is urging the government to close what it says are loopholes in new guidance around limits on carbon forestry.
Cookstove carbon credits: Recipe for cooking the climate books
6 May 2025
Media release | A new report reveals that cookstove carbon projects eligible for the Korean Emissions Trading Scheme are at risk of issuing 18 times more credits than they should, echoing past EU carbon market mistakes.
Air New Zealand announces less ambitious emissions ‘guidance’
2 May 2025
Air New Zealand has published its first “emissions guidance,” saying it expects to reduce net “well-to-wake” greenhouse gas emissions from jet fuel by 20-25% by 2030, from a 2019 baseline.
Govt on track to ban farm-to-forest conversions - McClay
2 May 2025
Agriculture and Forestry Minister Todd McClay has confirmed that restrictions on full farm-to-forest conversions on LUC 1-6 farmland will be in place this year.
New VCMI guidance risks justifying carbon offsetting and delaying real corporate climate action, NGOs say
1 May 2025
Media realease | In new guidance, the Voluntary Carbon Markets Integrity Initiative (VCMI) is promoting the use of carbon credits to camouflage the fact that companies grappling with their indirect (scope 3) emissions are off track to reach their commitments. But carbon credits must not replace direct emissions reductions, NGOs warn.
Experts question Climate Commission’s advice
30 Apr 2025
The Climate Change Commission’s latest advice on Emissions Trading Scheme auction settings is lacking important information, and fails to take into account the commission’s own advice to update the country’s climate targets, says an expert.
Carbon price slumps for fourth week in a row
29 Apr 2025
Carbon prices on the secondary market dropped for the fourth consecutive week last week, with NZUs changing hands at $20 below this year’s auction floor price of $68.
Carbon pricing for shipping: 'significant' impact for NZ exporters
28 Apr 2025
New Zealand exporters could see changes to their shipping costs following the approval of a landmark net-zero framework for the international shipping industry.
Commission’s plan to increase ETS auction units could lead to lower prices
24 Apr 2025
Experts are criticising the Climate Change Commission’s proposal to increase the amount of carbon units available at auction, while the market is still plagued by low prices and seems oversupplied.
Govt can auction more carbon credits: Commission’s advice
23 Apr 2025
The Climate Change Commission says that ‘surplus’ pollution permits in the market have dropped more quickly than expected, so the government could auction 14 million additional NZUs to 2030.
Moribund carbon price underlines Emissions Trading Scheme’s low integrity
22 Apr 2025
By Liz Kivi | Experts are blaming declining carbon prices on weak policy settings and the government’s unwillingness to tackle continuing problems with the Emissions Trading Scheme.
Carbon price nosedives
16 Apr 2025
The carbon price graph dropped off a cliff yesterday, down 6% overnight to a ten-month low amidst continued selling from forest owners.
NZ's emissions fell 2% in 2023 - latest GHG inventory
15 Apr 2025
Aotearoa New Zealand’s gross greenhouse gas emissions reduced by 2% in 2023, according to the latest greenhouse gas inventory.
ETS surplus volume likely to be reducing too slowly - new analysis
14 Apr 2025
Excess carbon units in the Emissions Trading Scheme - the ‘surplus’ in privately held accounts - look to be reducing more slowly than the Climate Change Commission's targeted annual reductions, according to new analysis.
Govt needs to look at alternatives to free pollution credits for industrial emitters: Commission
11 Apr 2025
The Climate Change Commission says there are “legitimate questions” about hundreds of millions of public money spent on free carbon credits for polluters, and the government should be looking at alternatives.
Commissioner calls for urgent reform of carbon forestry in ETS
10 Apr 2025
The Parliamentary Commissioner for the Environment is calling on the Government to remove forestry from the New Zealand Emissions Trading Scheme, warning that the country’s flagship climate policy is entrenching risky land use decisions and undermining long-term emissions reductions.
'Don't tinker with the ETS': forestry groups
10 Apr 2025
Foresters have hit back against the Parliamentary Commissioner for the Environment’s call to remove forestry from the Emissions Trading Scheme, saying the move would threaten New Zealand’s climate goals.
East Coast advocates join calls to take forestry out of the ETS
10 Apr 2025
Sustainable land-use advocates in Tairāwhiti are demanding immediate government action on the Environment Commissioner's recommendation to phase forestry out of the Emissions Trading Scheme.
Experts slam govt decision to wind down green investment bank
9 Apr 2025
The government’s move to scrap its green investment bank is a step backwards for emissions reductions and doesn’t stack up with the National Party’s economic and energy transition strategies, according to sustainable finance experts.
Govt plan for forestry on Crown land raises questions for the Emissions Trading Scheme
4 Apr 2025
By Liz Kivi | The government’s latest plan for carbon forestry includes a large chunk of planting on Crown land, with 155,000 hectares of exotic forestry projected to enter the Emissions Trading Scheme by 2042.
Carbon market increasingly volatile
1 Apr 2025
Last week was 2025’s most volatile so far for the carbon market, with units changing hands below $60 all week, and even trading down to the low $50s.
Govt releases detail on ETS forestry restrictions
28 Mar 2025
The government has released more detail on new restrictions for farm conversions to exotic forestry in the Emissions Trading Scheme (ETS), which foresters say will prevent another planting boom.
Carbon price drops to 6-month low
26 Mar 2025
By Liz Kivi | The New Zealand Unit spot price has fallen dramatically in the wake of last week’s declined auction, with the Carbon News NZU Index closing at $54.67 yesterday, down 10% from prices above $60 at the start of last week.
Media round-up
21 Mar 2025
In our weekly round-up of climate coverage in local media: Most New Zealanders support meeting our international climate target through a mix of domestic and offshore action; three figures paint a bleak picture of climate reality; and will removing Maori rights clear the way for an attack on the natural world?
Greens call for agriculture in, forestry out of ETS
20 Mar 2025
Yesterday's failed Emission's Trading Scheme auction is 'another indictment' on the government's climate credibility, says Green Party co-leader and climate change spokesperson Chloe Swarbrick.
First ETS auction of the year fails
19 Mar 2025
The first Emissions Trading Scheme auction of 2025 has failed to sell any 'pollution permits,' with all 1.5 million NZUs rolling over to the June auction.
Kiwi companies bought carbon credits from projects now under scrutiny for fraud
18 Mar 2025
Fonterra and Toitu are among New Zealand organisations caught up in an international carbon credits scandal, whose alleged instigator is facing multi-million dollar fraud charges in the US.
Tomorrow's ETS auction likely 'non-event'
18 Mar 2025
The spot price in the compliance carbon market dropped even further at the end of last week, with market watchers predicting that tomorrow's auction is odds-on to sell nothing.
What next for carbon prices?
12 Mar 2025
NZUs are still hovering well below the auction price floor, with collateral due to be lodged by today for participants in the first Emissions Trading Scheme auction of 2025, on March 19.
Carbon auction unlikely to clear as spot price drops
11 Mar 2025
The carbon price on the spot market has dropped to its lowest level since December, with the first ETS auction of the year less than a week away now unlikely to sell any units at all.
EU carbon market on course for highest CO2 price in the world by 2030: report
11 Mar 2025
Media release | LONDON: Europe's new Emissions Trading System is expected to have the world's highest carbon price in 2030 at 149EU, BloombergNEF forecast reveals.
Demand reduction deal as hydro lakes drop
10 Mar 2025
The electricity sector's preparations for a potential energy shortage this winter have continued with Meridian and Tiwai Point aluminium smelter agreeing for it to reduce demand.
Minister wrong about climate commitment: Lawyers
4 Mar 2025
By Liz Kivi | Lawyers for Climate Action has warned climate change minister Simon Watts that he was wrong to suggest New Zealand has no legal obligation to meet its international emissions reduction target.
NZ and Viet Nam sign up to cooperate on climate
3 Mar 2025
New Zealand has signed a partnership agreement with Viet Nam, including a Memorandum of Arrangement on climate change cooperation aiming to strengthen cooperation on adaptation and mitigation, including carbon markets.
Watts tells farmers billion dollar cost of climate commitments is 'misinformation'
27 Feb 2025
Greenpeace has slammed climate change minister Simon Watts for saying that New Zealand does not have to meet climate targets under the Paris climate agreement.
Updates to ETS auction collateral methodology
27 Feb 2025
The Government has updated the NZ ETS Auctions collateral methodology effective from 19 March 2025.
Carbon capture framework coming
24 Feb 2025
The government wants to bring carbon capture and storage into the Emissions Trading Scheme, with plans to introduce legislation for a Carbon Capture, Utilisation and Storage framework this year.
Will March's carbon auction clear?
24 Feb 2025
With carbon prices on the secondary market trading in a tight range below the minimum auction price, it seems increasingly unlikely that March's Emissions Trading Scheme auction will clear.
Genesis stocks up on coal
18 Feb 2025
Genesis Energy is prepared to burn up to 1.2 million tonnes of coal at Huntly Power Station this winter.
Secondary market remains flat as carbon auction approaches
14 Feb 2025
With the first carbon auction of the year just over a month away, one broker is predicting trading will continue at prices below this year's $68 auction floor price.
Exporters need to step up to meet new EU carbon tax requirements
7 Feb 2025
Kiwi exporters who invest in complying with the EU's carbon tax reporting will be at a competitive advantage, according to MFAT.
Commission calls for review of free carbon credits for big polluters
5 Feb 2025
The Climate Change Commission is recommending a review of free permits to big polluters under the ETS.
Foresters drop legal action over ETS fees
4 Feb 2025
Forestry minister Todd McClay has welcomed the sector's decision to drop legal action to fight new Emissions Trading Scheme fees.
Carbon price up - but still too low to drive decarbonisation
24 Jan 2025
Carbon prices on the secondary market went above the $64 mark yesterday for the first time since December’s partial auction clearance.
Emissions trading scheme surplus over-estimated, says EY
20 Dec 2024
The emissions trading scheme has about 22% fewer surplus units than government figures suggest, according to a new report.
Waitangi Tribunal kicks off inquiry into climate change policy
20 Dec 2024
By Liz Kivi | The Crown has contributed to worsening the climate crisis as well as exacerbating impacts on Māori communities, a Waitangi Tribunal panel heard this week.
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.
Budget 2025 needs to prioritise a thriving and resilient Pacific region
Fri 16 May 2025
Media release | World Vision New Zealand is urging the government to prioritise Pacific prosperity and resilience with strong investment in climate finance and foreign aid as part of Budget 2025.
Climate-denying farming groups attack govt’s methane strategy
Fri 16 May 2025
A trio of farming groups is claiming that a survey shows 95% of farmers have rejected the government’s methane strategy.
Air New Zealand announces less ambitious emissions ‘guidance’
2 May 2025
Air New Zealand has published its first “emissions guidance,” saying it expects to reduce net “well-to-wake” greenhouse gas emissions from jet fuel by 20-25% by 2030, from a 2019 baseline.
As Brazilian president visits China, $1 billion sustainable fuel deal announced
Fri 16 May 2025
Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China's Envision Energy to produce sustainable aviation fuel, as the country's president visits China.
Nature is not an economic handbrake: Environmental Defence Society
Fri 16 May 2025
Nature is not a handbrake on economic growth – the two must go hand in hand, attendees heard on the final day of the Environmental Defence Society’s Dollars and Sense conference this week.
Sustainability claims questioned as renewable diesel surges
Wed 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 price up but June auction still tipped to fail
Thu 15 May 2025
The carbon price has recovered somewhat as forestry selling eases, however NZUs are still changing hands on the secondary market at well below the $68 auction floor.
Private equity eyes up to US$1.3 trillion climate adaptation market by 2030
Fri 16 May 2025
While the public sector is expected to account for the bulk of adaptation funding, a new study identifies six investable segments for private investors, from climate risk data providers to flood defense infrastructure.
Greens promise to rapidly reduce emissions in new Green Budget
Wed 14 May 2025
By Shannon Williams | The Green Party has unveiled its alternative Green Budget, promising bold investments to tackle the climate crisis and deliver cleaner air, water, and soil.
Coal India to set up $3 billion worth clean energy projects to boost renewable heft
Wed 14 May 2025
The world’s largest government-owned coal producer will set up clean energy projects of around 4.5 gigawatts at a cost of 250 billion rupees (about $3 billion), it said on Thursday, as it aims to achieve net zero carbon emissions from its operations.
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.
Energy Australia is in court accused of greenwashing. What is the case about and why is it significant?
Fri 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.
Environment Court rules Mackenzie biodiversity deserves bespoke protection
17 Apr 2025
Media release | In a decision years in the making, the Environment Court has upheld EDS’s contention that Te Manahuna / the Mackenzie Basin’s significant ecology and indigenous biodiversity warrants a bespoke planning regime to protect it from farming intensification.
Running blind: The silencing and censoring of environmental threats to US national security
Fri 16 May 2025
Immediately after the inauguration of President Donald Trump in January 2025, his administration began purging environmental reports from the public record.
Oceans Commission must have teeth – minister
Wed 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.
Farming lobby attacks ‘loopholes’ in carbon forestry limits
7 May 2025
Beef + Lamb New Zealand is urging the government to close what it says are loopholes in new guidance around limits on carbon forestry.
Methanex closure comes early this year
Wed 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.
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.
Banking regulators agree to prioritise climate risk work
Wed 14 May 2025
Global banking regulators on Monday agreed to intensify efforts to better understand the financial risks posed by climate change amid pushback from the United States.
Climate crisis threatens the banana, the world’s most popular fruit
Wed 14 May 2025
The climate crisis is threatening the future of the world’s most popular fruit, as almost two-thirds of banana-growing areas in Latin America and the Caribbean may no longer be suitable for growing the fruit by 2080, new research has found.
Global livestock industry exposed for rampant rainforest destruction, despite no-deforestation pledges
23 Apr 2025
Media release | Greenpeace Aotearoa says a new investigation revealing that the world’s largest meat company, JBS, will fail to meet its deforestation-free commitment is yet more proof of false promises from the intensive livestock industry.
If NZ wants to decarbonise energy, we need to know which renewables deliver the best payback
21 Mar 2025
By Alan Brent and Isabella Pimentel Pincelli | A national energy strategy for Aotearoa New Zealand was meant to be ready at the end of last year. As it stands, we're still waiting for a cohesive, all-encompassing plan to meet the country's energy demand today and in the future.
Why hydrogen cars are being outsold by Ferraris
24 Apr 2025
Hydrogen has long been hyped as the “Swiss army knife” of the energy transition, but today – despite billions in investment – it largely remains limited to niche industrial applications.
Three-year flood map legal dispute ends in win for landowners
Tue 13 May 2025
By Alisha Evans, Local Democracy Reporter | Tauranga property owners have had a “significant win” after the council agreed to update flood maps, a developer says.
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.
Trump is illegally trying to overturn state climate laws
Wed 14 May 2025
OPINION: States are stepping up to respond to the rising toll of climate-fueled disasters. More than ten states have introduced climate superfund legislation based on a simple idea: those massive, multinational oil and gas corporations that caused the climate crisis should help pay for the damage.
Govt pledges to slash building emissions
8 May 2025
The government is signing up to an international agreement aimed at decarbonising the building and construction sector in line with limiting global warming to 1.5 degrees.
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.
Abandoned infrastructure one of the biggest polluters in the world – report
8 May 2025
Emissions from abandoned coalmines, oil and gas wells globally are larger than any single country except China, the US and Russia.
Green budget 'ludicrous la-la land' – govt
Thu 15 May 2025
Prime Minister Christopher Luxon said the budget was "clown show economics" and an "absolute circus".
Govt needs to get moving to deliver international climate target says commission
Mon 12 May 2025
By Liz Kivi | The Climate Change Commission is warning that “time is running short” for the government to deliver on its international climate 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.
Microplastics found in every layer of the ocean – study
7 May 2025
A new study by New Zealand and international researchers shows microplastics in every layer of the ocean - enough to change the chemical fingerprint of ocean carbon.
Media round-up
9 May 2025
In our weekly round-up of climate coverage in local media: When climate resilience meets resident resistance in Auckland; atmospheric and marine heatwaves in and around New Zealand are increasing climate extremes; and seaweed's climate superpowers.
Dismissals 'massive win' for climate movement
Tue 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.
Clean energy just put China’s CO2 emissions into reverse for first time
Fri 16 May 2025
For the first time, the growth in China’s clean power generation has caused the nation’s carbon dioxide (CO2) emissions to fall despite rapid power demand growth.
Antarctic expedition unearths clues to climate catastrophe
Thu 15 May 2025
Media release | Rocks from the coldest continent hold clues to an extinction event 183 million years ago.
Who is Mark Carney, the former central bank governor turned Canada's next leader?
11 Mar 2025
Canada's new leader is a relative political newcomer. While the former UN Special Envoy for Climate Action and Finance has previously advocated for net-zero investment, he has promised to scrap the country's carbon tax, saying he wants to shift the cost from consumers to big corporations.
States sue the Trump administration for blocking funds for electric vehicle charging
9 May 2025
Seventeen states are suing President Donald Trump ‘s administration for withholding billions of dollars for building more electric vehicle chargers.
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.
Lawyers move to take Climate Commission to NZ’s top court
1 May 2025
Lawyers for Climate Action has filed a case challenging New Zealand's climate targets in the Supreme Court.
New research tests wastewater carbon capture potential
5 May 2025
Treating wastewater with alkaline minerals could potentially remove more than 18 million tonnes of carbon dioxide from the atmosphere each year, according to new research.
Global sea levels rise spelling catastrophe for coastal towns and cities
Wed 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.
Large fires are burning on the slopes of South Africa's famous Table Mountain
1 May 2025
Helicopters dropped water on large fires burning on the slopes of South Africa's Table Mountain on Tuesday as police investigated whether arson was the cause.
Meridian set to build its first solar farm as Genesis stockpiles coal
2 Apr 2025
Meridian Energy is set to start construction on its 130MW Ruakākā Solar Farm south of Whangārei in August 2025, with the project receiving a final investment decision and construction approval from the Meridian Board.
