Carbon Match Update

Posted: 12 Mar 2024

This morning the Climate Change Commission ("CCC") has published its annual advice on ETS Settings for the period 2025 - 2029, the third time it has published such a report.

The Commission has reiterated its concerns over the existing stockpile of NZUs held within the ETS, saying that excess units in the NZETS pose a risk to meeting climate goals.

As a result, they recommend dramatic reductions in the volumes to be made available by auctions over the 2025 - 2028 years inclusive. The reductions proposed would amount to a total of 19.7 million tonnesover those four years, with the 2029 year proposed to offer just 3.0 million tonnes in total across that year.