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At the moment, the carbon price is $46 a tonne on the trading market. That adds about 11 cents on to the cost of a litre of petrol. Less than four months ago, the carbon price was $39 (adding 9c each litre). But there’s a trigger set for when prices rise above $50 a tonne (or 12c a litre of petrol). Until this year, the Government could sell an unlimited number of NZ Units (which allow the owner to emit one tonne of carbon dioxide) in the Emissions Trading Scheme. In 2021, the Government set a target for the whole country – a maximum of 71.8 million tonnes of climate pollution – while waiting for the independent Climate Change Commission to set carbon budgets for the next 14 years. To achieve that, it decided to sell just 19 million NZ Units, split across four auctions. (The remaining 52.8 million tonnes cover agriculture, stockpiled units and units offered to companies for free.)

James shawEric cramptonNigel brunelClimate change commissionUnz initiativeMinistry for the environmentEmissions tradingEmissions trading schemeChange minister james shawஜேம்ஸ் ஷாஎரிக் கிராம்ப்டன்நைகல் பிறனில்காலநிலை மாற்றம் தரகுந்ஸ் முயற்சிஅமைச்சகம் க்கு தி சூழல்உமிழ்வு வர்த்தக