Topics tagged with 'Emissions trading'
ETS needs to incentivise gross emissions reductions: Consultations close tomorrow
10 Aug 2023
By Ann Smith | Although New Zealand has updated its international commitment to reduce emissions, it is still ranked as “Highly Insufficient” by Climate Action Tracker.
What would it look like for the NZ ETS to be aligned with 1.5C?
9 Aug 2023
By Christina Hood | The government needs to prioritise gross reductions in long-lived gases much faster to be consistent with 1.5C of warming - with a 90% reduction in gross emissions needed by 2050.
Tender for forestry NZUs
9 Aug 2023
An unnamed buyer is in the market for a “significant volume” of forestry NZUs through a tender process.
Māori forestry lobby welcomes Nat’s commitment to leave ETS unchanged
7 Aug 2023
Māori forestry group Te Taumata has welcomed a National Party statement that they would not make major changes to the Emissions Trading Scheme if voted into government at the upcoming election.
Massive carbon offset deal with Dubai-based firm draws fire in Liberia
7 Aug 2023
Liberia may sign away the rights to nearly 10% of its total land mass to a United Arab Emirates-based firm for carbon offset development.
Best by the rest...
4 Aug 2023
In our weekly round-up of the best climate coverage in local media: Experts say the ETS emphasising indigenous forests would benefit public health; Is carbon capture an option for Huntly? And does National’s transport plan add up?
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.
Foresters welcome ETS reset
27 Jul 2023
Foresters have welcomed the government’s reset of Emissions Trading Scheme auction settings, saying it should incentivise forestry and wood processing investors for the embattled industry.
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.
Govt to include carbon sinks in Emissions Trading Scheme
12 Jul 2023
Cabinet agreed last week to reform the Emissions Trading Scheme to recognise all forms of carbon sinks rather than just forestry.
Forestry lobbying heats up over ETS review
11 Jul 2023
Forestry interests are continuing their campaign to ensure forestry retains value under a reviewed Emissions Trading Scheme, with another open letter to the government saying climate goals are at risk.
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.
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 credits: how do you know if you’re buying quality?
23 Jun 2023
By Ann Smith | COMMENT: It doesn’t matter whether carbon credits originate in New Zealand or from overseas, they can be credible or they can be questionable. So how do you tell the difference between high quality carbon credits and those of questionable origin?
Best by the rest...
23 Jun 2023
In our weekly round-up of the best climate coverage in local media: major risks to NZ’s climate plan; experts argue that the ETS shouldn't be our only weapon against the climate crisis; and the Forever Project’s quarterly magazine looks at future farms.
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.
ETS review looks at reducing NZUs at auction
19 Jun 2023
The government has opened public consultation on the New Zealand Emissions Trading Scheme as well as consultation on redesigning its Permanent Forest Category.
Saudi firms bid for 2m tons of carbon credits in Kenya auction
16 Jun 2023
Saudia, formerly Saudi Airlines, is among the dozen firms bidding for 2 million tons of carbon credits at an auction in Nairobi this week, billed as the world’s largest sale of its kind.
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.
Global carbon markets face upheaval
14 Jun 2023
The US$2 billion market for carbon offsets is heading for a massive reset, as a growing number of sovereign governments announce their intention to tax, regulate or restrict trade in credits generated within their borders.
France seeks to rally support for emissions levy on shipping
14 Jun 2023
France is drumming up support for a global levy on greenhouse gas emissions from the shipping industry ahead of a summit hosted by Emmanuel Macron this month.
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.
Battle lines harden over how to slash CO2
7 Jun 2023
Banish fossil fuels, capture their emissions, pull CO2 from thin air -- diplomats in Bonn for UN-led climate talks agree there's too much planet-warming carbon dioxide in the atmosphere, but remain at loggerheads on the best way to reduce it.
Offshore unit procrastination could cost NZ billions
6 Jun 2023
New Zealand must buy around 80mt offshore carbon units to meet its Paris NDC commitment in 2030.
Which deserves a carbon credit – nature or technology?
6 Jun 2023
The United Nations has drafted a document that will define a new global carbon market for years to come, which seems to favor nature-based solutions over technological or engineered carbon removals.
‘Worthless’: Chevron’s carbon offsets are mostly junk and some may harm, research says
25 May 2023
Investigation finds energy giant’s efforts to offset its huge emissions rely on schemes with little impac.
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)”.
Offsetting and carbon neutral claims in the dock
19 May 2023
By Ann Smith | COMMENT: Over the past few months, The Guardian has published five or more articles questioning the integrity of carbon offset projects that have been certified by well-known international organisations that issue carbon credits.
Seeing REDD
15 May 2023
By Ann Smith | COMMENT: A REDD+ carbon offset project in Southland was the subject of negative press last week. However the project’s aim of preserving indigenous forest is critically important in the fight against climate change.
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.
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.
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.
EU plans early carbon market auctions from July
29 Mar 2023
The European Union plans to conduct early carbon market auctions, starting from July, to raise extra funds to help countries quit Russian gas and cut emissions, the European Commission said on Monday evening.
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.
Doubts about whether next week’s ETS auction will clear
8 Mar 2023
A week out from the first Emissions Trading Scheme auction of the year, the price of carbon on the secondary market continues its slide, closing at $65.75 yesterday, its lowest level since December 2021.
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.
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.
Carbon price too low to fund carbon capture
20 May 2025
The government’s climate target to 2030 is at risk, after revelations that a carbon capture project which the government was relying on to deliver one third of its carbon reductions, might not go ahead.
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.
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.
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.
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.
