NZ Carbon Prices Surging

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Spot prices on the New Zealand emissions trading scheme remain on a sharp uptrend, pushing through the NZ$80/ton ($53) mark this week to another all-time high, according to data on the country’s online carbon trading platforms. Current prices are up some 80% from last June. The bullishness began around the middle of 2021 following a Climate Change Commission report that recommended progressively tightening the country’s permitted emissions until 2035. Prime Minister Jacinda Ardern has also committed to reduce New Zealand’s net emissions by 50% by 2030 on 2005 levels.

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