They held a carbon auction, no one came

The market is awaiting signals from climate change minister Simon Watts. (Image: NZME)

Wed, 19 Jun 2024

The second carbon auction of the year failed with no bids made.There was zero interest in the 4,075,700 New Zealand Units on offer at the June auction.A NZ Unit (NZU) is a proxy under the emissions trading scheme (ETS) for one tonne of carbon, which emitters must surrender to settle their emissions.With the secondary market prices at about $49/$50 this week, the floor price of $64 was too high for anyone to take part.The units will roll over to the third auction of the year in September, when seven million units would be on offer. If that...

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