Carbon prices recover

Carbon prices are recovering following the inaugural NZ Units (NZU) auction, with a closing price of $37.60 on Jarden’s Comm Trade and $37.43 on competitor platform Carbon Match.

The first carbon auction on March 17 under the Emissions Trading Scheme (ETS) saw prices fall by about $1.50 a tonne, with a recent recovery signalling the beginning of a rebound, according to Jarden’s head of institutional commodities Nigel Brunel. “What happens at the next auction is the 64,000 dollar question,”