Carbon hits $15 a tonne benchmark following Budget ETS decisions

Pattrick Smellie
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...

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