Carbon Market

January 2012

 

NZ carbon rises 4.5 pct on fresh demand

Point Carbons new press release:

19 Jan 2012 10:35 CET Last updated: 24 Jan 2012 19:28 CET
 
Spot permits in New Zealand’s Emissions Trading Scheme closed at NZ$7 on Thursday, a 4.5 percent gain over the week in the face of falling international prices as traders returning from holiday boosted demand.

 

Point Carbon has released their January Newsletter for the New Zealand and Australian market, please click here for full details.

 

 December 2011

 

The carbon market (like the financial market) has experienced a turbulent few months, as the NZU price dropped from a high of NZD$20 in April to NZD$10 in December (see Figure 1 below). Predictions for 2012 are a slow recovery of the carbon price. Watch this space!

On the upside, New Zealand sold more than 1.5 million Kyoto carbon credits offshore last year, and bought just over 400,000 from other countries. The Ministry of Economic Development figures show that the vast majority of the New Zealand credits were sold to Europe.

 New Zealand is working towards a regional carbon market. International Climate Change Negotiations Minister Tim Groser and his Australian counterpart, Greg Combet, announced this week that progress has been made on linking the New Zealand Emissions Trading Scheme with the planned Australian scheme.

The linking of the two schemes will be beneficial to the carbon market and will open up a new market for New Zealand credits in 2015 when the Australian scheme allows international credits to be used to meet compliance.