Carbon prices continue to slump due to political uncertainty

Carbon prices have fallen below the $50 mark for the first time since 2021 in the wake of the government releasing its thoughts on reforming the Emissions Trading Scheme on Monday.The price of New Zealand Units (NZUs), which are the equivalent of a tonne of carbon, peaked at $88.50 on secondary markets late last year and began their descent after the government declined Climate Change Commission advice to tighten Emissions Trading Scheme (ETS) settings.Since then, two auctions have not sold any NZUs, while the secondary market price continued d...