Government to auction carbon credits, raise carbon price cap, reopen ETS to global market

Wed, 26 Jul 2017

By Pattrick Smellie July 26 (BusinessDesk) - The government is preparing to reopen the New Zealand emissions trading scheme to international carbon credits, but is signalling less willingness than in the past to rely on other countries' efforts to combat climate change because of the open-ended cost of doing so. Climate Change Minister Paula Bennett announced a range of decisions from the second part of a major review of the ETS, including the intention to control the number of so-called New Zealand Units (NZUs) of carbon by putting up pr...

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Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 10:50am

Law & Regulation