Topics tagged with 'NZ ETS'

Treasury increases estimated ETS auction revenue
22 Dec 2023
Treasury has increased its forecast ETS auction revenue from $2.7 billion to $3.5 billion.

Relying on the invisible hand of the carbon market to reduce emissions
19 Dec 2023
By Jeremy Rose | The new government is in the process of incinerating every climate change mitigation policy other than the Emissions Trading Scheme.

Gas shortage predicted in the next few years
19 Dec 2023
A report commissioned by the gas sector regulator says New Zealand is at risk of an energy shortfall within a few years as the complex interaction between supply and demand for gas tips into under-supply.

Govt must address climate crisis: Lawyers
14 Dec 2023
Activist lawyers have put the new government on notice that they could be facing legal repercussions if they fail to take adequate action to meet the country’s climate targets.

Climate Change Commission doubles down on ETS criticism
13 Dec 2023
The Climate Change Commission has doubled-down on its long held view that the ETS is not fit for purpose when it comes to driving down emissions, in its latest advice to government.

Environmental Defence Society calls on climate minister to revisit ETS review
12 Dec 2023
The Environmental Defence Society is calling on the government to revisit its decision to stop the Emissions Trading Scheme review.

Watts tells COP28 NZ is committed to "ambitious" NDC
11 Dec 2023
In his first major speech on climate change since becoming the minister, Simon Watts re-stated New Zealand’s commitment to meeting our “ambitious” Nationally Determined Contribution.

Climate minister confirms commitment to international climate targets
8 Dec 2023
Climate Change minister Simon Watts confirmed New Zealand’s commitment to the Paris Agreement ahead of flying to Dubai for the annual United Nations climate summit.

Carbon price down following declined auction
7 Dec 2023
The carbon price is down following yesterday’s failed auction, which sent 15 million NZUs out of the ETS for good.

Fourth consecutive carbon auction failure sends 15 million carbon units up in smoke
6 Dec 2023
The final ETS carbon auction of the year has failed, taking 15 million tonnes worth of carbon “pollution permits” out of the market - and a potential $1 billion out of the government’s coffers.

Carbon price up ahead of auction next week
1 Dec 2023
The carbon price is up to just under $75 ahead of the Emissions Trade Scheme auction on Wednesday next week.

Scrutiny on global voluntary carbon market and changes to ETS led to Toitū dropping NZUs
1 Dec 2023
By Ann Smith | OPINION: Toitū’s decision last week to transition away from accepting New Zealand carbon credits brought the global voluntary carbon market, and debates about its integrity, into sharp focus.

Massive native reforestation project proposed
29 Nov 2023
By Jeremy Rose | New Zealand could go from being a buyer of offshore carbon credits to an exporter of offsets, according to the promoters of an ambitious plan to reforest and restore 2.1 million hectares of indigenous forests over the next 10 years.

New govt cans ETS review, climate and environment ministers outside cabinet
27 Nov 2023
By Liz Kivi | The new National-led coalition government has dumped the current review of the Emissions Trading Scheme, and appointed climate and environment ministers outside cabinet.

Biodiversity finance? Definitely. Biodiversity credits? Maybe
24 Nov 2023
By Jeremy Rose | The Parliamentary Commissioner for the Environment and some of the country’s major environmental groups have questioned the government’s one-eyed focus on biodiversity credits.

Toitū to stop accepting NZUs
23 Nov 2023
Toitū Envirocare, the government’s carbon certification service, announced today that it will transition away from accepting New Zealand carbon credits in its carbon certification programmes.

Carbon price steady amidst political uncertainty
16 Nov 2023
The carbon price has pushed through the $70 mark over the last past two months, from a low of $64 in late September to a high last week of $71.25.

ETS participants relying on banked NZUs
16 Nov 2023
NZ ETS participants stockpiling NZUs for future liabilities, uncertainty concerning changes to the regulatory framework, and the looming general election all contributed to ETS auctions failing to clear this year, according to Ministry for the Environment briefing papers released under the OIA.

Taskforce recommends continuous canopy forestry for Nelson
9 Nov 2023
A taskforce is calling for a halt to clear-felling on Nelson council land, and a transition to a continuous canopy of mixed species to replace the council’s commercial forestry operations, as part of a set of recommendations that will be presented to Nelson City Council today.

Carbon price predicted to go close to $100 in 2024
8 Nov 2023
An expert is picking a bump in the carbon price if the December auction doesn’t clear, predicting it will to go up to between $80 and $100 next year - with an expectation it will be closer to $100.

Profitability of status quo standing in the way of renewable energy transition
27 Oct 2023
Lack of political leadership and an industry that profits from the status quo are standing in the way of the transition to renewable electricity, according to Octopus Energy chief operating officer Margaret Cooney.

Salt CO2 fund continues to acquire its own units
16 Oct 2023
The Salt CO2 fund is continuing to purchase its own units but is undecided how it will dispose of its growing stockpile of treasury stock.

NZX updates ETS auction calendars
13 Oct 2023
NZX has updated the Emissions Trading Scheme auction calendars, with new settings in line with Climate Change Commission recommendations.

Biodiversity credit market could encourage sustainable land use - new research
12 Oct 2023
A biodiversity credit market could help farmers make their businesses more resilient as well as helping them to meet environmental targets, according to a new study.

Foresters take legal action against new ETS fees
10 Oct 2023
Foresters have filed a judicial review aiming to stop the government’s new fee system for forestry in the Emissions Trading Scheme, which they say will increase costs by several thousand percent.

Govt releases Cabinet papers on ETS forestry charges
5 Oct 2023
The government has proactively released cabinet papers on controversial new charges for forestry in the Emissions Trading Scheme.

Govt defends new charges for forestry in ETS
3 Oct 2023
The government is defending new charges in the Emissions Trading Scheme, which foresters say will discourage planting, and some say could be open to legal challenges.

Likely ETS auction failure will eat into stockpile
29 Sep 2023
The likely failure of the final ETS auction of the year in December would result in a significant chunk of the current stockpile evaporating.

CO2 fund gobbling up its own product
28 Sep 2023
Salt Management's Carbon Fund spent more than $1.2 million buying units in its own fund over the last month.

Differing visions for Climate Change Commission
27 Sep 2023
By Jeremy Rose | The Act Party wants it abolished, NZ First is calling for its head’s head, and Labour, the Greens and TOP want it given more powers.

Foresters say new ETS charges will discourage planting
22 Sep 2023
Foresters say that new charges for forestry in the ETS will penalise sustainable forestry and disincentivise planting when it is most needed.

Farmers call for methane review based on flawed report, says expert
19 Sep 2023
The agriculture sector is calling for a review of New Zealand’s methane targets, citing a report suggesting Kiwi farmers are being asked to do more than their fair share in terms of reductions.

ETS cap likely to flatline under ACT policy
14 Sep 2023
By Jeremy Rose | If Act’s policy of linking New Zealand’s carbon emission’s cap to the reductions of our five largest trading partners is adopted by the incoming government it would in theory see next year’s cap going up not down.

Carbon price hovers around $73
13 Sep 2023
The NZU price is up $2 since early last week, with a price bump both before and after last week’s auction.

NZ must improve how it puts together plans for emissions reductions: Environment Commissioner
8 Sep 2023
Make it coherent and have the Prime Minister take the lead: Those are two pieces of advice the Parliamentary Commissioner for the Environment wants the incoming government to take to heart when formulating plans to cut emissions.

How will Treasury treat missing ETS revenue ahead of election?
7 Sep 2023
Experts are questioning how Treasury will treat the potential $1 billion of missing revenue from this year’s Emissions Trading Scheme auctions, with reporting due next week ahead of the election.

Third consecutive ETS auction fails
6 Sep 2023
Today’s ETS auction has been declined because the clearing price did not meet the minimum price settings, with no winning bids as a result - and an increasing likelihood that the December auction will also fail.

Carbon price up ahead of Wednesday auction
4 Sep 2023
The carbon price pushed through the $70 mark at the end of last week, last fixing at $71 on Commtrade on Friday. It has climbed $6 in the past two weeks to its highest point since February - more than double the price just two months ago.

Petition calls to end free carbon credits for big emitters
1 Sep 2023
A group of NGOs and activists have launched a petition calling for an end to free carbon credits for industry and for the system to be replaced by a carbon border mechanism.

Concerns around NZU reporting
1 Sep 2023
Emissions Trading Scheme participants are calling for better accuracy and transparency in NZU movement reporting, after two reporting glitches have led to serious questions.

National’s climate “dividend” isn’t really a dividend - and could increase emissions
31 Aug 2023
By Liz Kivi | Yesterday the National Party announced a “climate dividend” amid much fanfare as part of its $14.6 billion package of tax cuts.

National announces climate dividend
30 Aug 2023
The National Party has announced a climate dividend that would use funding from the Emissions Trading Scheme as part of a package of tax cuts aimed to support New Zealand’s “squeezed middle.”

Consultation on exotic hardwoods and carbon tables in the ETS
30 Aug 2023
The Ministry for Primary Industries is consulting on recognising space-plantings and exotic hardwoods in the New Zealand Emissions Trading Scheme.

IMF warns NZ at risk of failing international emissions obligations
29 Aug 2023
The International Monetary Fund says New Zealand must do more to meet its Nationally Determined Contribution (NDC) for 2030, and is off track to meet its international obligations.

Govt cuts more than $200 million from climate funds to “tighten belts”
29 Aug 2023
The government is slashing funding to climate emissions reduction programmes as part of “belt tightening” measures, with more than $235 million in cuts to projects planned to reduce emissions.

Green Party announces climate adaptation fund
28 Aug 2023
The Green Party has announced a $750 million fund for councils to put in place nature-based solutions, aiming to cut emissions and protect communities from climate change impacts.

Analysts predict carbon price will hit $140 by 2050
25 Aug 2023
Analysts are predicting the spot price of NZUs will rise to $150 by 2050 - a level they say will negatively affect some of New Zealand’s big energy gentailers and encourage behavioural change from carbon polluters.

Work on market governance framework for ETS underway
23 Aug 2023
The government is developing a market governance framework for the Emissions Trading Scheme. It is also progressing work on an optional exchange for the secondary market.

Unexplained anomaly in NZU surrenders
23 Aug 2023
An unexplained reporting anomaly suggests a big emitter - or emitters - are late submitting their NZU surrenders, with about 13 million units unaccounted for.