New Zealand's Climate Change Commission advises rapid reduction of carbon credits for polluters in Emissions Trading Scheme (ETS) settings.
New Zealand's Climate Change Commission has advised the government to rapidly reduce the number of carbon credits available to polluters, as part of its annual recommendations on Emissions Trading Scheme (ETS) settings. The Commission recommends dramatic reductions in the volumes of credits to be made available at auctions from 2025 to 2029, which would reduce the total number of New Zealand Units (NZUs) auctioned to 22.7 million over that period. This proposal could increase the ETS price, potentially contributing to cost-of-living concerns. The government is now considering the Commission's advice for decision-making later this year.
March 11, 2024
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