Cabinet makes initial steps to regulate carbon markets

Climate change minister James Shaw says greater carbon market regulation is needed. (Image: BusinessDesk)

Wed, 23 Aug 2023

Cabinet has approved initial steps for greater regulation of carbon markets, saying it is necessary to ensure fair market trading and prevent insider trading and misconduct.The Ministry for the Environment (MfE) has been consulting on proposals to improve governance of the market for New Zealand Units (NZUs, a proxy for a tonne of carbon).They cited the lack of regulation for the secondary market as a risk.There are three public secondary carbon market trading platforms, and on top of this, deals are done directly between those holding NZUs and...

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