Unknown player makes big move in carbon market

Climate minister James Shaw is thinking of adjusting carbon volumes as auction system evolves (Image: BusinessDesk)

Thu, 07 Oct 2021

One buyer bought 37% of all the New Zealand Units on offer in the last carbon auction in September snapping up more than 4.3 million NZUs for $234 million.The bidder’s identity is not known and is protected under confidentiality clauses in emissions trading scheme (ETS) law.A Ministry for the Environment analysis of the Sept 1 auction outlines some of the broad numbers in the third event of its type. It was notable because it resulted in the $50 ceiling price being crossed and released 7m NZUs in the cost containment reserve (CCR), which...

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