Topics tagged with 'NZ ETS'
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.
Best by the rest...
24 Mar 2023
In our weekly round-up of the best climate coverage in local media: the Climate Change Commision wants the Government to explain why it rejected advice; meanwhile, the commission failed to win legal costs from Lawyers for Climate Action NZ; and the Labour-Green coalition is under pressure as Labour dumps climate policies.
Govt announces review of the ETS
23 Mar 2023
The government has announced it is reviewing the Emissions Trading Scheme to see whether it can play a stronger role in driving New Zealand’s climate response.
Massive jump in ETS forestry land registrations
21 Mar 2023
Jeremy Rose | More than 221,000 hectares of forest land was registered in the ETS last year - not far off half of the total 500,000 plus hectares registered since the scheme came into force in 2008.
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.
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.
The price of carbon: it’s up, up and away in Europe and down, down, down in Aotearoa
3 Mar 2023
Last week the price of carbon hit €100 (NZ$170) for the first time. Meanwhile, in New Zealand the price of NZUs has settled at around $70 on the secondary market - down 24% from a peak of $88.50 in November last year.
Parliament unites to stop gifting of carbon credits to big emitters
22 Feb 2023
Parliament has unanimously supported the first reading of an amendment bill that puts an end to the over-allocation of carbon credits to trade-exposed industries. The current system of “industrial allocation” has seen some of the country’s biggest emitters receiving a $60 million annual windfall.
Australia's unlimited use of carbon offsets could lead to rise in emissions, report says
13 Feb 2023
An Australian government proposal to allow big polluters to use unlimited carbon offsets as an alternative to cutting their own greenhouse gases would likely greenlight new coal and gas developments and lead to a rise in emissions, a new analysis says.
Global carbon markets value hit record $909 billion last year
8 Feb 2023
The value of traded global markets for carbon dioxide (CO2) permits reached a record 850 billion euros ($909 billion) last year, analysts at Refinitiv said on Tuesday.
How will EU’s ‘green tariff’ impact China’s carbon market?
7 Feb 2023
European Union (EU) negotiators agreed in December to charge a carbon border tax on certain imports into the bloc, beginning in 2026.
Carbon trader calls on government to reverse ETS decision
3 Feb 2023
A carbon trader has opened a parliamentary petition calling on the government to accept all the Climate Change Commission’s recommendations relating to the Emissions Trading Scheme.
Price of NZUs drifting slowly lower
30 Jan 2023
NZUs closed on the Commtrade platform at the end of trade on Friday at $72.50, down from a high of $88.50 on the secondary market towards the end of last year.
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.
Pay the polluters: academics
23 Dec 2022
It’s common for environmentalist to call for “polluters pay” taxes but now a group of Victoria University academics are calling for polluters to be paid to become truly sustainable.
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.
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.
ETS auction clears at $79.00
7 Dec 2022
The final ETS auction of the year cleared at $79.00 this morning.
London exchange lists its first carbon fund
7 Dec 2022
The London Stock Exchange is launching its first fund on its Voluntary Carbon Market (VCM), which aims to channel funding to climate mitigation projects that generate carbon credits, it said in a statement Monday.
Forestry ETS changes pass
5 Dec 2022
Among the bills to pass into law in Parliament’s recent Urgency session was the extension of the penalty transition regime for small forestry owners who remove trees.
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.
Carbon price hits all time high
15 Nov 2022
The price of carbon has hit new heights on the secondary market this week.
Govt considering setting up its own secondary carbon market
14 Nov 2022
By Ian Llewellyn - Energy & Environment | The government has asked for thoughts on it running a centrally-cleared secondary carbon market as another option to existing markets.
Best by the rest...
11 Nov 2022
In our weekly round-up of the best climate coverage in local media: The National Party say they will repeal the offshore oil and gas exploration ban if elected next year; concerns raised on environmental impacts of international productions filmed in New Zealand; and should Australia be hosting UN climate talks with Pacific Nations in 2026?
More than half a million hectares of forest now in ETS
7 Nov 2022
The Ministry for Primary Industries processed a record 37,753 hectares of forest land for the ETS in the month of October.
The case for using climate finance to create carbon markets
1 Nov 2022
Funding for carbon markets should become natural part of the climate finance toolkit, argues European Bank for Reconstruction and Development's Gerrit Held.
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.
First Australia carbon budget balances climate risks
25 Oct 2022
For the first time, the Australian government must work within a financial budget and a carbon budget. Treasurer Jim Chalmers has confirmed his first budget, due out on Tuesday, will include a major analysis of the impact of climate on Australia's economy.
Environment Committee calls for submissions on Climate Change Response Amendment Bill
20 Oct 2022
The Environment Committee is calling for submissions on the Climate Change Response (Extension of Penalty Transition for Forestry Activities with Low Volume Emissions Liabilities) Amendment Bill.
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.
Forestry interests hit out at minister's comments
17 Oct 2022
Climate Change minister James Shaw’s comments that the government could become the exclusive purchaser of carbon forestry credits have been met with widespread backlash from forestry interests.
Best by the rest...
14 Oct 2022
In our weekly round-up of the best local climate coverage: Stuff fact checks fossil fuel lobby claims; Newsroom crunches the numbers on the government's agricultural emissions proposal; and three unlikely activists have had their charges dropped in court in the name of climate change.
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.
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.
How do you decide which candidates are truly climate friendly?
30 Sep 2022
By Jeremy Rose | Last month, Dunedin mayoral candidate Pamela Taylor declared herself in favour of increasing carbon emissions on the grounds it would stimulate plant growth.
Best by the rest...
30 Sep 2022
In our weekly round-up of the best climate coverage in the local media: A former petrolhead in Dunedin is converting gas guzzling vehicles to electric; children in Vanuatu are taking to the streets to protest climate change; and Keith Woodford dives deep into the how voluntary schemes surrounding carbon sequestration are regulated in the ETS.
More than 90% of economists in survey support carbon dividend
29 Sep 2022
More than 90% of economists who took part in a New Zealand Association of Economists survey support redistributing the proceeds from the Emission Trading Scheme auctions through a dividend to household rather than the current policy of using the money for targeted decarbonisation projects.
Countries try to dodge EU's carbon market fundraising plan
27 Sep 2022
European Union countries are hunting for alternatives to an EU plan to use a carbon market reserve to help finance their exit from Russian gas, as some fear the proposal would undermine the bloc’s main climate change policy.
Christchurch City Council registers for ETS credits
22 Sep 2022
Christchurch City Council has made its first application for carbon credits under the Emissions Trading Scheme, voting last week to register about 300 hectares of regenerating native forest in Te Oka Reserve on Banks Peninsula.
Salesforce will launch carbon credit marketplace
22 Sep 2022
Business software provider Salesforce is bringing a new platform to the carbon market, where businesses will be able to buy carbon credits from a trusted partner with a third-party verification.
Zero Carbon Act might be tightened: Shaw
20 Sep 2022
Climate change minister James Shaw told a conference in Auckland, yesterday, that “based on recent court cases” the government might need to strengthen the Zero Carbon Act.
Forestry could crash the ETS
20 Sep 2022
Climate Change Commission chair Rod Carr says, if left alone, the planting of pine trees purely for carbon credits will prevent the ETS from playing the part it should in reducing carbon emissions.
Climate in your hands: Extinction Rebellion
19 Sep 2022
Attendees of the Climate Change and Business conference, which kicked off at the Aotea Centre in Auckland this morning, were welcomed with banners declaring “Climate is in your hands.”
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.
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.
Experts examine climate impacts on Pacific health
Today 10:30am
Media release | The devastating impacts of climate change on health in the Pacific Islands will be discussed at a symposium at the University of Auckland tomorrow, 5 June.
Controversy around NZ’s methane target hits international press
Tue 3 Jun 2025
By Liz Kivi | New Zealand’s approach to methane targets has hit international media, with climate scientists from multiple countries penning an open letter warning Prime Minister Christopher Luxon not to weaken methane targets.
Greenwashing is rife in Australia, but could its days be numbered?
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.
Microplastics found in sand on dozens of NZ beaches
Today 10:30am
Scientists have extracted microplastics from the sand of 22 beaches from the Far North to Banks Peninsula.
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.
Vanuatu criticises Australia for extending gas project while making COP31 bid
Today 10:30am
Vanuatu’s climate minister has expressed disappointment over Australia’s decision to extend one of the world’s biggest liquefied natural gas projects and said it raises questions over its bid to co-host the COP31 summit with Pacific nations.
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.
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.
Surge of lobbying over electricity sector review
Today 10:30am
Jostling and lobbying have intensified ahead of the release of a review into the electricity sector.
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.
Death toll from Nigeria flash floods rises to 151
Tue 3 Jun 2025
At least 151 people in central Nigeria are now known to have died following flash floods that destroyed homes and displaced thousands of residents earlier this week.
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.
Environmentalists see forestry changes as dangerous step for Tairāwhiti
Tue 3 Jun 2025
By Zita Campbell, Local Democracy Reporter | Tairāwhiti environmentalists have called changes for commercial forestry under proposed Resource Management Act reforms “a slap in the face” and a return to weaker forestry regulations.
Why expensive gas – not net-zero – is keeping UK electricity prices so high
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
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.
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.
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.
What happened to the hydrogen economy?
Tue 3 Jun 2025
The hydrogen car that was supposed to carry us into a cleaner future is still not in the driveway. In fact, outside of a few test markets, it’s not in anyone’s driveway.
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
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.
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.
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.
Tech alone won’t save us, warns climate expert
Today 10:30am
By Shannon Morris-Williams | Technology alone won't be enough to reach net zero emissions, environmental psychologist Lorraine Whitmarsh told the Carbon and Energy Professionals conference in Auckland last week.
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.
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.
US: Clean energy project cancellations top $14 Billion so far in 2025
Today 10:30am
Businesses have pulled the plug on big projects amid Trump’s retreat on climate action. But plenty remain in the pipeline, awaiting a Congressional decision on tax credits.
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.
India, a major user of coal power, is making large gains in clean energy adoption
Today 10:30am
One of the most carbon-polluting countries, India is also making huge efforts to harness the power of the sun, wind and other clean energy sources.
A fungus that can ‘eat you from the inside out’ could spread as the world heats up
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.
“It’s not the car – it’s how we move” – EECA
Tue 3 Jun 2025
By Shannon Morris-Williams| New Zealand’s transport emissions conversation has focused heavily on electric vehicles – but Richard Briggs, group manager, delivery and partnerships at the Energy Efficiency and Conservation Authority, says we’re asking the wrong question.
Europe’s next climate target may already have been agreed in Berlin
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.
Water crisis on the horizon?
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.
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.
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.
