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Are we about to blow our first-ever carbon budget?


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.) ....

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Heather du Plessis-Allan: We deserve to know if Treasury is really up to the job

Heather du Plessis-Allan: We deserve to know if Treasury is really up to the job
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Eric Crampton , Chloe Swarbrick , எரிக் கிராம்ப்டன் ,