NZ carbon auction prices hold up

Markets around the world have been hit by turmoil but the New Zealand carbon auction has held steady, soaking up all available units at near the secondary market price.In the second auction of the year, NZ Units (a proxy for a tonne of carbon) cleared at $76.The secondary market was recently trading at between $75.75 and $77.35 per unit.There were 4.825 million NZUs available in the quarterly allocation and 1.3 million NZUs left from the annual cost containment reserve.All of them were snapped up by 17 successful bidders from 26 participants.Th...