Commission proposes big drop in ETS volumes

The chair of the Climate Change Commission, Rod Carr. (Image: NZME)

Tue, 12 Mar 2024

The Climate Change Commission is recommending significant reductions in the volume of carbon credits available through the emissions trading scheme.In its third round of advice to the government on the emissions trading scheme (ETS), which was tabled in parliament on Tuesday, the commission highlighted the market's volatility over the past year.All four auctions for New Zealand units (NZUs), which are equivalent to one tonne of carbon, failed to clear the reserve price in 2023, so they were not sold.The commission said the emissions price h...

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