No bidders turn up for latest carbon auction

They held a carbon auction and no one came. (Image: Getty)

Wed, 04 Sep 2024

The latest auction of carbon units has failed to clear, with no bidders taking part.The secondary market price for New Zealand units (NZUs) had been trading at around the $62 mark prior to the third auction of the year, below the auction floor of $64.NZUs are a proxy for one tonne of carbon and those creating emissions are required to surrender an equivalent number of units if they are covered by the emissions trading scheme.There were no registered participants for the September auction, indicating no ETS participants or investors were willing...

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