Topics tagged with 'NZ ETS'

Govt blamed for low carbon price
22 May 2024
By Liz Kivi | The carbon price hit a ten-month low on the secondary market on Monday, with NZUs trading at about half the price of the commodity’s all-time high of $88.50 in November 2022.

ETS alone won’t decarbonise NZ: businesses representing 40% of country’s GDP
22 May 2024
The Sustainable Business Council and Climate Leaders Coalition say that depending on the ETS alone to reach net zero will cause significant harm to the economy.

ETS consultation: ‘signal versus noise’ suggests eventual price rise
21 May 2024
By Murray McClintock | COMMENT: Although changing prices makes a good soundbite, the key driver of ETS prices is unit supply and demand.

Carbon price sinks to lowest in ten months
20 May 2024
The carbon price is down nearly 11% since last week, as the market reacts negatively to a government consultation suggesting weaker ETS settings.

Jury out on how ETS consultation will impact carbon market
16 May 2024
The government’s latest consultation on Emissions Trading Scheme settings will be difficult for the market to translate into clear positive or negative signals - with uncertainty remaining around forestry, according to an expert.

ETS consultation suggests lower prices for NZUs
15 May 2024
A new consultation document from the Ministry for the Environment suggests lowering the auction floor price for the Emissions Trading Scheme, as well as lowering the trigger price for the cost containment reserve.

Enough fiddling: The ETS needs to be allowed to do its job
10 May 2024
By Andrew Cushen | OPINION: While it isn’t perfect, the Emissions Trading Scheme is the only tool in our climate response that is working at the scale we need to meet the challenge in front of us. Turning this off or restricting it will impact us all environmentally, socially, and economically.

Govt looking at policy to restrict forestry in the ETS: Watts
7 May 2024
By Liz Kivi | The government is looking at complementary policies around land use to restrict forestry in the Emissions Trading Scheme, rather than making changes directly to the scheme.

OECD calls for review of how forestry is treated under ETS
7 May 2024
By Jeremy Rose | The OECD says the government should review the ETS with a focus on the treatment of carbon removals through afforestation.

Commodities trader Marex to start carbon trading in NZ
3 May 2024
British commodities trader Marex is planning to launch a new carbon trading platform in New Zealand in the next few weeks.

NZU stockpile grows to 169 million in last quarter
3 May 2024
The NZU stockpile is up about 9 million tonnes, according to the latest quarterly update from the Environmental Protection Authority.

Carbon market ‘rational’: Shaw
30 Apr 2024
Former climate change minister James Shaw says the low carbon price is the market acting rationally to current policy settings and what is likely to come in the future.

Climate Change Minister now in Cabinet after reshuffle
26 Apr 2024
Climate Change minister Simon Watts now has a seat at the Cabinet table.

Commission’s advice ‘not gospel’ - Willis
12 Apr 2024
The finance minister and associate Climate Change minister told a business gathering that the Climate Change Commission is not “a deity” and its Emissions Trading Scheme advice was “not gospel”.

Global carbon trading revenues grew to US$74 billion last year - report
12 Apr 2024
Global revenues from the sale of carbon permits in emissions trading systems grew to a record $74 billion last year, as governments increasingly turn to such schemes to help tackle global warming.

Lack of policy direction to blame for low carbon price?
11 Apr 2024
The carbon price continued its post-auction slump, with weak demand seeing the secondary market trading well below the auction floor.

Net zero emissions target may need strengthening: Climate Change Commission
9 Apr 2024
By Jeremy Rose | New Zealand’s current Net Zero 2050 emissions reduction target may need to be strengthened, the Climate Change Commission says in a discussion document released yesterday.

New forestry fees unfairly impact Māori
4 Apr 2024
By Liz Kivi | Recently implemented fees for forestry in the Emissions Trading Scheme are having a disproportionate impact on Māori, and the government didn’t consult adequately on the changes, according to the National Māori Forestry Association.

Transport policy threatens climate targets
2 Apr 2024
By Robert McLachlan | OPINION: The government’s move to drop climate considerations from land transport policy constitutes climate denial - and puts Aotearoa’s first emissions reduction plan at risk.

Half of Tairāwhiti at risk of erosion - new data
28 Mar 2024
An estimated 182 million tonnes of eroded soil entered New Zealand's rivers in 2022, according to new research.

Global carbon market expert to speak at Christchurch conference
28 Mar 2024
The chair of the Integrity Council for Voluntary Carbon Markets (ICVCM), Annette Nazareth, will give a keynote speech at the Carbon and Energy Professionals Conference in Christchurch in May.

Carbon price makes partial recovery
25 Mar 2024
The carbon price has increased slightly from an eight-month low on Wednesday, following the government’s Emissions Trading Scheme auction, but is still trading well below the auction floor.

Carbon price nosedives following auction
21 Mar 2024
By Liz Kivi | The carbon price has dropped to its lowest since July last year, following yesterday’s partial auction clearance.

NZU price has greater impact on cost of electricity than petrol
21 Mar 2024
By Jeremy Rose | Counter-intuitively an increase in the price of carbon adds more to a household’s electricity bill in percentage terms than its petrol one.

First ETS auction of the year partially clears
20 Mar 2024
Today’s Emissions Trading Scheme auction has partially cleared.

Carbon price scraping the auction floor just ahead of Wednesday's auction
18 Mar 2024
The carbon price is at its lowest in nearly six months, with poor investor sentiment just ahead of the first auction of the year on Wednesday.

Tepid market response to Commission’s advice - auction less than a week away
14 Mar 2024
By Liz Kivi | The Climate Change Commission’s call to drastically reduce Emissions Trading Scheme auction volumes has barely caused a blip on the secondary market - suggesting participants don’t think the government will follow the advice.

Govt should have considered climate impacts of EV road user charges
13 Mar 2024
The government should have done a climate impacts assessment on its proposed road user charges for electric vehicles, with the new charges likely to lead to a significant increase in carbon emissions, according to an expert.

Reduce the ETS ‘stockpile’ - Climate Commission sends strong message to govt
12 Mar 2024
The Climate Change Commission is recommending that the government significantly reduces the amount of ‘pollution permits’ it auctions under the Emissions Trading Scheme, and is warning that policy settings are undermining the ETS.

Govt changes ETS reserve price methodology ahead of auction
11 Mar 2024
The government has announced it has changed the methodology used to calculate the confidential reserve price for Emissions Trading Scheme auctions, as the NZU price gains ground in recent days.

Govt announcements make this a bad week for the climate
11 Mar 2024
Media release | “The Government has made a series of announcements this week which are bad news for the climate in Aotearoa”, says Jessica Palairet, Executive Director at Lawyers for Climate Action NZ.

Govt still committed to 'no significant changes' to ETS
7 Mar 2024
Despite warnings from the Climate Change Commission, Climate Change minister Simon Watts says the government remains committed to no significant changes to the Emissions Trading Scheme.

RBNZ signals banks must account for climate risk
7 Mar 2024
The Reserve Bank says financial institutions need to understand and manage climate-related risks - and it highlights agriculture as a risky sector.

Canned govt fund delivered emissions reductions at half current carbon price
5 Mar 2024
By Vernon Small | The effective price the government paid for carbon emissions through the GIDI fund was about half – or less – than the current NZ unit spot price of $66.05.

New transport policy will increase emissions: Green Party
5 Mar 2024
Transport Minister Simeon Brown has announced the government will spend $7 billion a year for the next three years to build 15 new Roads of National Significance, while also cutting spending for mode shift to cycling, walking, and bus infrastructure.

Govt at risk of litigation if emissions reduction plan doesn’t cut it
4 Mar 2024
By Liz Kivi | The government might find itself in court if it doesn’t come up with a credible plan this year to meet its emissions budget, according to legal experts.

Foresters welcome ETS costs review
1 Mar 2024
The New Zealand Forest Owners Association says the review of Emissions Trading Scheme fees is a relief for foresters facing excessive costs, but experts say forestry still faces an uncertain future under the scheme.

Government announces review of forestry ETS costs
29 Feb 2024
Forestry minister Todd McClay has announced an independent review into the forestry component of the Emissions Trading Scheme (ETS) register.

In its current state the ETS will fail to deliver significant emission reductions: Rod Carr
28 Feb 2024
By Jeremy Rose | Climate Change Commission chair Rod Carr has told the Environment Select Committee that, in its current state, the ETS will fail to deliver significant emissions reductions.

Environmental Defence Society says "radical anti-environment government" could harm NZ's reputation
27 Feb 2024
The Environmental Defence Society says the government’s environmental policies could cause environmental harm as well as threaten New Zealand’s international reputation.

Contact on electricity and carbon prices
26 Feb 2024
Contact Energy said it is inevitable that retail electricity prices will have to rise in line with long term wholesale prices and is also predicting that carbon prices will rise as well.

Carbon price dips closer to auction floor
23 Feb 2024
By Liz Kivi | The carbon price has dipped closer to the auction floor, with an increase in selling blamed on an overall weakness in the market.

Carbon price drops below $70 with March auction just a month away
21 Feb 2024
NZUs sank into the sixties on the secondary market at the end of last week, with speculation surrounding whether the government will adjust the confidential reserve price to raise revenue at next month’s auction.

NZ lagging in forging agreements to meet climate obligations
16 Feb 2024
New Zealand is lagging behind other countries in sealing bilateral deals to meet climate targets - a delay which could lead to higher costs, according to a climate policy consultant.

EPA says financial situation now critical
12 Feb 2024
The Environmental Protection Authority has warned that its financial situation is now critical.

Climate leadership top issue in 2024: Institute of Directors
9 Feb 2024
Climate leadership is top of the list of major issues for directors in 2024, with carbon pricing set to take on new importance, according to the Institute of Directors.

Supreme Court rules case against climate polluters can go to trial
8 Feb 2024
Climate activist and Iwi leader Mike Smith has won his case in the Supreme Court against some of New Zealand’s biggest emitters, including Fonterra and Z Energy.

Carbon price trending upwards
1 Feb 2024
The carbon price is up more than $5 on the secondary market since the start of last week, making a jump of nearly 9%.

ACT’s proposed climate bill ‘concerning’ - expert
25 Jan 2024
A private member's bill from the ACT Party could delay gross emissions reductions and ultimately threaten New Zealand’s climate targets, according to an expert.

Govt releases submissions on canned ETS review
22 Dec 2023
The government has released submissions on the controversial review of the Emissions Trading Scheme, started by the previous government but canned by new Climate Change minister Simon Watts.