Carbon auction is set to fail

Uncertainty about the government's policy on forestry and land use is one of the many issues hanging over the carbon market. (Image: Getty)

Ian Llewellyn

Mon, 12 Jun 2023

It’s likely that the government’s carbon auction this week will fail to sell the available units and there's a chance the rest of the auctions this year will go the same way, says Jarden’s head of commodities, Nigel Brunel.This Wednesday, the second auction this year of New Zealand Units (NZUs, an equivalent to a tonne of carbon) will take place. On offer are 4.475 million NZUs. If they are sold, there will also be available the same amount carried over from the first auction that did not clear – the first time...

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