Carbon prices: what goes up must come down

Carbon prices: what goes up must come down
The shockwaves from Russia's invasion of Ukraine stretched as far as NZ's carbon market. (Image: Getty)
Ian Llewellyn
Global economic anxieties finally hit New Zealand carbon prices in recent weeks, just ahead of the first auction this year.The price of New Zealand Units (NZUs) on the secondary market has been on an almost relentless march upwards in the last two years.Under the Emissions Trading Scheme (ETS), those who emit greenhouse gases are required to surrender the equivalent of NZUs, which are a proxy for a tonne of carbon. On the other hand, those who plant forests earn NZUs for the carbon soaked up.The market is subject to a plethora of rules, but sin...

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