Climate response fund set to grow as carbon price rises

Climate response fund set to grow as carbon price rises
Climate change action will be funded in part by the emissions trading scheme's revenues. (Image: Getty)
Pattrick Smellie
The government’s $4.5 billion Climate Emergency Response Fund (CERF) has been increased by a further $1.5b, reflecting increased revenue caused by rising carbon prices.The CERF “recycles” revenue raised from the sale of carbon in the New Zealand emissions trading scheme (ETS), the price of which has risen from about $35 a tonne a year ago to about $75 a tonne today.Some $2.9b of the CERF is committed in the announcements made today.The finance minister, Grant Robertson, indicated that a further $1.5b is available to be deploye...

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