News

NZ ETS Review Announced

Following on from the failure of the first NZU auction last week, the government has announced a review of the NZ ETS and how it will help the government meet its Paris Agreement goals for 2030 and the NZ Target for 2050. As the auction is a source of funding for the...

First NZU Auction in 2023 Fails to Clear

On March 15, 2023, the New Zealand Unit (NZU) auction suffered a significant failure, with the auction closing with no trades made. This event was a disappointment for the New Zealand government, which had been hoping the auction to be successful and contribute to its...

NZ Government does not follow CCC Advice

The New Zealand government's recent update to the Emissions Trading Scheme (ETS) for 2023 featured significantly lower carbon allowance prices and volumes than recommended by the Climate Change Commission (CCC). The CCC had advised a steep increase in carbon auction...

Permanent Exotic Forest in the ETS

A government proposal to keep permanent exotic forests out of the ETS appears to have been reversed. The government had proposed, on advice from the Climate Change Commission that exotic trees in permanent forests would not be eligible to claim credits for the entire...

CMS Takes Part in the First NZ NZU Auction

In March 2021 CMS participated in the first NZ NZU auction, where the NZ Government released 4.75 units for sale. The auction was a success with strong uptake and all units were sold at clearing price of NZ$36/unit. There were 40 bidders of which 30, including CMS,...