Carbon market chaos and confusion

Government policy confusion causes plunge in carbon prices and stops tree planting. (Image: Getty)

Tue, 04 Jul 2023

The fall in carbon prices is due to chaotic policy and confusion in the market that will cut forest planting and emissions reductions, say market participants.The decline in New Zealand units (NZUs – the equivalent of one tonne of carbon) continued last week, all driven by government policy decisions or the lack thereof.The fall from the peak of $88.50 in November began with cabinet declining to follow Climate Change Commission advice on tightening Emissions Trading Scheme (ETS) settings.The announcement that a review was coming helped pu...

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