Topics tagged with 'NZ ETS'

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.

Meat lobby report slams forestry role in ETS
5 May 2023
A report commissioned by New Zealand Beef + Lamb has unsurprisingly found that the full inclusion of forestry offsetting in the ETS is out of step with other cap and trade systems internationally and is hindering New Zealand’s efforts to decarbonise.

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.

Commission’s advice harks back to disregarded warnings from 30 years ago
28 Apr 2023
By Prof Ralph Chapman | It is both encouraging and depressing to see the arguments made about forest sequestration by the Climate Change Commission in its draft advice released this week.

ETS driving afforestation not emission reductions: Climate Change Commission
27 Apr 2023
The Climate Change Commission is calling for an overhaul of the ETS that separates incentives for gross emission reductions from those applying to forestry.

Europe's ETS sets tougher target
27 Apr 2023
EU countries have given the green light to the biggest overhaul to date of the bloc’s carbon market, raising costs for polluting industries and increasing its emissions reduction target from 43% to 62% by 2030.

Forestry issue lobbying intensifies
26 Apr 2023
As the deadline for the Ministerial Inquiry into Land Use in Tairāwhiti to report draws closer, lobbying over the issue has become more intense, especially with a new minister at the helm.

Barn-fed animals will have far lower emissions than NZ produced meat: Rod Carr
26 Apr 2023
Climate Change Commission chair Rod Carr says Europe's barn-fed livestock will increasingly have a far lower carbon footprint than meat produced in New Zealand.

Who's going to pay for the Government’s climate sweeteners now?
21 Apr 2023
The government has announced the latest round of its decarbonisation of industry fund, despite the very real possibility that the revenues from the Emissions Trading Scheme that pay for it could be non-existent this year.

Best by the rest...
21 Apr 2023
In our weekly round-up of the best climate reporting in local media: how the Environment Minister failed to stop a major polluter getting ahead of a climate law change; why the Climate Change Commission’s advice could increase costs for Kiwis; and crowdsourcing for Papatūānuku - Te Tairāwhiti style.

Tiny decrease in gross emissions, net emissions up slightly
14 Apr 2023
New Zealand’s net emissions increased slightly in 2021 - by 3% - while gross emissions were down a tiny 0.7% on the previous year, a slight reduction in gross emissions for the second consecutive year.

Climate Change Commission doubles-down on ETS advice
13 Apr 2023
The Climate Change Commission has doubled-down in its latest advice to government on the need to increase the trigger price for the emission trading scheme’s cost containment reserve.

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.

Govt's proposed changes will dish out millions more free carbon credits
5 Apr 2023
By Liz Kivi | Proposed changes to the Climate Change Response Act would give millions more free carbon credits to big polluters and contradict Aotearoa’s emissions reduction goals, according to an expert.

Commission consults on reduction targets, budgets, and international transport emissions
3 Apr 2023
The Climate Change Commission is calling for evidence to support its work on Aotearoa New Zealand’s emissions reduction targets and emissions budgets.

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.

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.