Market Closed

18 Jun 2021 04:29:45

Final advice out, NZUs break through $40

Posted: 09 Jun 2021

The Climate Change Commission's final advice was tabled in parliament today, and made public. This time, the Commission has set out three different broad pathways showing that achieving their recommended budgets is possible - budgets which cover the next 4, 9 and 14 years.

Getting through what is a 400 page rework of the draft advice will take time.  And on first blush the budgets recommended appear to be slightly more generous than those initially consulted on.

The NZU price reaction so far has been positive.  This is a milestone event for a ten year old carbon market.  The PM has confirmed the intention of the Government to respond with an emissions reduction plan by year end.  Minister Shaw has reiterated that every part of the Government will need to come to the table and commit to urgent action to bring down emissions in their sector. Moreover work is underway to increase our NDC.

Read more in our weekly commentary.