Second carbon auction raised almost $200m for govt

Foresters have been holding on to their NZ unit stock (Image: DepositPhotos)

Wed, 23 Jun 2021

The second auction of carbon units has cleared at prices near the current secondary market price, raising almost $200 million for the government.The auction of New Zealand units (NZUs) sold all 4.75m on offer at $41.70 apiece.NZUs on the secondary market had over the last week had been trading at just above $40.The most recent spot price sale for NZUs on Jarden’s Commtrade platform was at $43.50 with the futures price for April 2022 at $41.87.The sale raised a gross amount of $198.1m for the government. As part of recent budget announceme...

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