Carbon hits $15 a tonne benchmark following Budget ETS decisions

Fri, 27 May 2016

By Pattrick Smellie May 27 (BusinessDesk) - The price of a tonne of New Zealand carbon in the emissions trading scheme has pushed through $15, creating theoretically breakeven conditions for forestry planting based on carbon farming. Climate Change Minister Paula Bennett confirmed a widely expected cancelling of subsidies to major emitters over the next three years in the Budget yesterday. The cancellation immediately improves the prospects of a higher carbon price, which from $15 a tonne starts to make carbon capture through forest pl...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Politics

Govt reshuffle: Lee demoted, Simmonds loses portfolio

Melissa Lee has been stripped of her media and communications portfolio and dropped from the cabinet, prime minister Christopher Luxon announced today.He has given Paul Goldsmith the portfolio after Lee was widely criticised over her public handling of the numerous issues facing...

Staff reporters 1:20pm

Economy