Markets

Traders snap up units in NZX's first carbon auction

Dan Brunskill
Wed, 17 Mar 2021

Minister for climate change, James Shaw rang the NZX's bell to kick off bidding on Wednesday morning.
Dan Brunskill
Wed, 17 Mar 2021
NZX’s first carbon credit auction under the Emissions Trading Scheme sold all 4.75 million units offered for $36 each this morning earning the government $171m.A total of 40 participants placed bids for more than 11 million units, but only 30 bidders were successful.Paul Harrison from Salt Funds, which runs a carbon fund, said the auction was a success. He thought with so much extra demand the price might have gone higher.  “Nobody was quite sure how it was going to go given the emitters still have the ability to make good on t...

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