Topics tagged with 'NZ ETS'
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.
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
By Liz Kivi | 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.
Government needs to 'sort out' flood damage exclusion from natural hazard insurance
Today 10:45am
By Oli Lewis | Natural hazard insurance should be extended to cover household damage caused by flooding, a geotechnical and natural hazard specialist says.
Govt opens first ETS forestry permit ballot
Mon 22 Jun 2026
Applications have opened for the first ballot under new ETS forestry rules, with up to 7,500 hectares of exotic forestry on marginal land on offer for landowners to register in the Emissions Trading Scheme in the first of two annual rounds, totalling up to 15,000ha a year.
$30m airline fund risks ‘burning public money’ without lasting benefit – expert
20 Mar 2026
By Shannon Morris-Williams | A $30 million government package to support regional air routes risks delivering poor value for money while increasing emissions, according to transport strategist Tim Adriaansen.
Airline CEOs warn EU plan to expand carbon costs will raise fares
10 Jun 2026
Europe's biggest airlines have urged the European Union not to extend its Emissions Trading System to cover international flights, warning the move would raise ticket prices, a letter seen by Reuters showed.
Green Party pledges to protect public conservation land
Today 10:45am
The Green Party is promising to scrap the Government's current conservation reforms and start again with a process focused on protecting conservation land and wildlife for future generations, if elected.
'Stored solar': Bioenergy Association touts cost benefits of biomass boilers over gas
Wed 24 Jun 2026
By Oli Lewis | Businesses across New Zealand are warming to bioenergy, but advocates believe woody biomass could play a far greater role as a replacement for more expensive natural gas and electric heat options.
Scrutiny week reveals unresolved trade-offs
Wed 24 Jun 2026
Last week's select committee scrutiny hearings showed how far the Government's energy and environment agenda has moved from target-setting to implementation. They also showed how many unresolved trade-offs now sit beneath that shift.
France records hottest day ever as 40 people drown across country
Today 10:45am
France has registered its hottest day on record as 40 people across the country were confirmed to have drowned while swimming in unsupervised areas over the last few days.
Carbon auction failures show ETS working, Watts says
Tue 23 Jun 2026
Failed government carbon auctions show the emissions trading scheme is working as intended rather than broken, Climate Change Minister Simon Watts says.
China's coal power on the rise again in 2026, reversing first-in-a-decade decline
Today 10:45am
China's coal-fired power generation is set to rebound this year from its first fall in a decade, analysts said, due to the impact of El Nino and the Iran war and as renewable sources of energy have failed to keep pace with demand.
Looking behind the headline costs of offshore mitigation
18 Jun 2026
COMMENT: A closer look at Treasury’s analysis reveals assumptions that undervalue the case for using offshore mitigation as part of Aotearoa New Zealand’s global climate contribution, writes Catherine Leining.
Green building council calls for clean energy policies
18 May 2026
The New Zealand Green Building Council has released its 2026 election manifesto calling for policies to reduce energy waste in buildings, lower household and business energy costs, and improve New Zealand’s energy security.
What Magyar’s defeat of Orbán in Hungary means for climate and energy
21 Apr 2026
Hungary has played a disproportionate role in EU climate and energy policy in recent years, by repeatedly vetoing climate action and by delaying the phaseout of Russian fossil-fuel imports.
Forestry at heart of ETS problems – commissioner
Wed 24 Jun 2026
By Shannon Morris-Williams | Forestry is a central driver of growing problems within New Zealand's Emissions Trading Scheme, Parliamentary Commissioner for the Environment Simon Upton told the Environment Select Committee during Parliamentary Scrutiny Week.
National promises low-cost solar loans for households
Today 10:45am
By Oli Lewis | The National Party is promising a Home Energy Fund to accelerate the roll-out of household solar, batteries, insulation and other energy resilience measures if it is re-elected this year.
Environmental groups call for ETS reform
20 Feb 2026
Several environmental organisations are calling on political parties to make climate and biodiversity central to the 2026 election campaign, with reforming the Emissions Trading Scheme seen as a key priority.
We recreated the legendary heatwave summer of 1976 in today’s climate – here’s what we found
Today 10:45am
The summer of 1976 was an extraordinary heatwave for its time. With 15 consecutive days of temperatures over 32°C, it was an unprecedented length for a UK heatwave, coming at the end of a year-long drought.
High Court hearing highlights the 'shrinking pool' for fisheries research and science
Mon 22 Jun 2026
Media release: Environmental Law Initiative | At the close of a four-day High Court hearing challenging the government’s under-levying of the fishing industry, the Environmental Law Initiative (ELI) says more science, research and observer coverage is needed to protect marine wildlife and ecosystems from the impacts of fishing.
Burning forest ‘waste’ to make cement damages the climate
Wed 24 Jun 2026
The Australian government has agreed to invest almost $53 million in a north Tasmanian company that will upgrade its coal-fired kiln to burn wood “waste” and used tyres for cement manufacturing.
UN chief says fossil fuel industry must cut methane for warming “relief”
Today 10:45am
UN chief António Guterres called for stronger action to cut emissions of planet-heating methane, taking aim at the fossil fuel industry’s practices and profits, and pointing to coal, oil and gas as the root of today’s climate and energy crises.
Gas transition loan scheme nears launch as savings modelled
Tue 23 Jun 2026
By Oli Lewis | Commercial gas users could potentially save thousands of dollars a year by using Crown-backed loans to fund fuel-switching and energy efficiency projects, new modelling indicates.
Cabinet green-lights $55M super-critical geothermal drilling programme
9 Jun 2026
By Pattrick Smellie | Cabinet has agreed to release the $55 million unspent of the $60m secured by Resources Minister Shane Jones to drill up to 5 kilometres deep into super-critical geothermal heat under the Taupō volcanic zone.
NZ Taxonomy project scoops London Climate Week award
Wed 24 Jun 2026
The New Zealand Taxonomy project has scooped an innovation award at the International Climate Bonds awards in London this week.
Carbon capture and the need for ‘net zero oil’
16 Jun 2026
By Pattrick Smellie | The answer to making carbon capture and storage work is to make fossil fuel producers responsible for making it happen rather than consumers, says Oxford University climate change policy expert, Professor Myles Allen.
Govt climate claims don't match reality, lawyers say
17 Jun 2026
By Shannon Morris-Williams | Lawyers for Climate Action has accused the Government of presenting an overly positive picture of New Zealand's climate progress at the United Nations climate summit in Bonn, arguing key claims on emissions reductions and support for the Paris Agreement's 1.5°C goal are not reflected in domestic policy.
Importing LNG would raise costs and emissions: it’s a terrible decision for New Zealand
9 Jun 2026
COMMENT: Today’s announcement from the Government is political smoke and mirrors, with electricity users’ wallets still set to bear the brunt of the proposed LNG facility, writes Christina Hood.
Ballance secures gas for 2026 as it progresses energy transition plan
16 Jun 2026
By Oli Lewis | One of the largest industrial gas users in New Zealand is working on an energy transition plan to futureproof domestic fertiliser manufacturing, while continuing to secure ongoing gas supply contracts.
$75k up for grabs for climate resilience and inclusion projects
Today 10:45am
Community organisations and charities working to strengthen climate resilience and social inclusion can apply for a share of $75,000 through the QBE Foundation's 2026 Local Grants.
Climate law change spanner in the works for Waitangi Tribunal Inquiry
19 Dec 2025
By Liz Kivi | The Government’s controversial changes to New Zealand’s legal framework for climate policy have thrown a spanner in the works for a long-running Waitangi Tribunal Inquiry into climate change.
Verra reinstates Kenya carbon project despite ongoing court case
Today 10:45am
The Northern Kenya Grassland Carbon project is “the world’s largest soil carbon removal project” according the organisation running the project. It is also one of the most controversial carbon projects anywhere in the world.
Canadian firm seeks Crown co-investment for Genesis-supported gas storage project
Fri 19 Jun 2026
By Oli Lewis | A proposed gas storage project supported by Genesis Energy has sought Crown co-investment through the $200 million Gas Security Fund.
Lessons from Australia: Climate Change Authority chair cites rapid roll-out of household solar, batteries
Fri 19 Jun 2026
By Oli Lewis | Australia is rapidly outpacing New Zealand when it comes to new household solar and battery systems, lowering electricity costs and driving down the carbon intensity of installed generation.
Climate risks could reshape business finances, new guidance warns
15 Apr 2026
By Shannon Morris-Williams | New guidance warns climate change is set to fundamentally reshape financial outcomes for businesses, including difficult-to-model climate “tipping points” – irreversible changes such as ice sheet collapse or ocean circulation shifts – which threaten severe and sudden financial impacts.
Climate change minister tight-lipped on ACT climate policy
16 Jun 2026
By Liz Kivi | Climate Change Minister Simon Watts is keeping his cards close to his chest about the ACT Party’s election campaign pledge last week that it would resubmit New Zealand’s Paris Agreement target.
US defence spending on critical minerals surges in the last decade
Mon 22 Jun 2026
Members of communities affected by some of these projects said that U.S. state backing has meant projects are being fast-tracked without the necessary social and environmental checks or meaningful consultation.
Mombasa ocean summit drives progress on marine protection, but threats persist
Tue 23 Jun 2026
At the 11th Our Ocean conference in Kenya, its founder John Kerry says the ocean must become central to climate solutions and needs to be looked after.
Hipkins pans LNG plan as ‘massive step backwards’
19 May 2026
By Liz Kivi | Labour leader Chris Hipkins has told a Queenstown audience that a Government he leads would not proceed with a planned LNG import terminal, if elected at November’s election.
UN’s first Paris Agreement carbon credits face human rights and climate concerns
17 Jun 2026
Civil society groups allege the cookstove project in Myanmar exaggerated its climate impact while maintaining ties with military junta.
A real ‘intergenerational equity’ budget would address Australia’s unceasing environmental decline
15 May 2026
Labor has unveiled a budget designed to tackle intergenerational equity in Australia through bold tax reform.
Six NZ climate solutions up for 2026 Earthshot prize
21 May 2026
By Shannon Morris-Williams | Six New Zealand climate and sustainability initiatives have been nominated for the 2026 Earthshot Prize, with the shortlist showcasing Kiwi-led solutions tackling emissions, plastic waste and ocean restoration.
Energy resilience conference axed due to Ara Ake closure
Today 10:45am
By Shannon Morris-Williams | A national conference focused on energy affordability, resilience and hardship has been cancelled because of the Government's decision to end Crown funding for energy innovation centre Ara Ake.
Northern Thai residents march for action on polluted rivers. ‘This is an emergency’
9 Jun 2026
More than 600 residents of Chiang Mai and Chiang Rai provinces embarked May 31 on a roughly 68-kilometer, six-day ‘peace walk’ to demand the Thai government take action on the river pollution crisis that has seen Thai rivers polluted with heavy metals.
Why China's critical minerals strategy leaves the US behind
8 Jun 2026
The United States cannot realistically recreate that dominance overnight even if the political will existed.
Sustainable finance taxonomy for energy sector – consultation
8 Jun 2026
The Centre for Sustainable Finance is consulting on the sustainable finance taxonomy’s draft energy sector criteria.
Ukraine hopes renewables can Russia-proof power grid
Fri 19 Jun 2026
Quick to build and able to power a small city, the Oriv wind farm in western Ukraine is exactly the kind of project Kyiv hopes will backstop its power grid against routine Russian strikes.
‘Landmark’ conservation reform bill – boost or bust for nature?
8 May 2026
By Liz Kivi | The Government has announced an overhaul of the country’s conservation system, which environmental organisation Forest & Bird says will undo the work of many generations of Kiwis to protect public conservation land.
The merchants of doubt are coming for extreme event attribution science
18 Jun 2026
Andrew Dessler: Fossil-fuel companies are acutely aware that this research could land them in court. And losing those cases would leave them legally liable for billions of dollars in climate damages.
Calder Stewart to invest $110m for solar across industrial portfolio
Tue 23 Jun 2026
Media release | NZ’s largest industrial landowner is preparing one of the country’s most significant industrial rooftop solar rollouts, with Calder Stewart set to invest more than $110 million in solar panels and battery storage across its property portfolio.
Carbon trading schemes cut more emissions than carbon taxes, according to global study
20 Mar 2026
By Shannon Morris-Williams | Carbon trading schemes are more effective than carbon taxes at reducing emissions, cutting fossil fuel use, and accelerating the shift to renewable energy, a global study has found.
Lack of finance stalling sustainable innovation – report
12 Jun 2026
By Shannon Morris-Williams | A lack of access to suitable finance is threatening growth in New Zealand's sustainable innovation sector, despite strong confidence and ambitious expansion plans among purpose-driven businesses, according to a new report.
Pacific climate response in question as NZ finance remains unclear
19 Dec 2025
By Shannon Morris-Williams | With New Zealand's $1.3 billion international climate finance commitment set to end with no clarity on what follows, the Auditor-General says oversight of that funding remains patchy and long-term outcomes are unclear.
Media round-up
Fri 19 Jun 2026
In our round-up of climate coverage in local media: The Government is set to quietly scrap a looming ban on coal boilers; some South Dunedin homes may be relocated as climate risks increase; and more details emerge about the handling of documents linked to the undisclosed climate case briefing.
‘Those blocking climate science are not our friends': Pacific leaders warn at Bonn talks
Tue 23 Jun 2026
Pacific nations and civil society groups have united at UN climate talks, pushing back against efforts to weaken agreed language on global temperature limits as negotiations continue behind closed doors.
New refrigerant scheme targets potent greenhouse gases
18 Jun 2026
By Shannon Morris-Williams | New Zealand is set to introduce its second regulated product stewardship scheme under the Waste Minimisation Act, targeting synthetic refrigerants that account for around 2% of the country's greenhouse gas emissions.
Waikato Council advances water security action plan
Tue 23 Jun 2026
Waikato Regional Council has endorsed a new action plan to strengthen the region’s water security.
Increase in wildfire-driven ozone linked to premature deaths across the U.S.
10 Jun 2026
Smog linked to wildfires is getting worse across much of the U.S., playing a role in more than 300 additional premature deaths every year since 2013, researchers say.
New Zealand faces $26b energy infrastructure challenge, report warns
15 Jun 2026
By Shannon Morris-Williams | New Zealand will need an additional $26 billion of investment in energy infrastructure over the next 30 years to meet its decarbonisation goals, with a new report warning that policy certainty is critical to unlocking the renewable generation needed to power a low-carbon economy.
