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

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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