What's at stake: The stability of New Zealand's carbon market and the effectiveness of its climate strategy.
Background: The ETS auction has repeatedly not met the undisclosed reserve price, impacting NZU sales and market value.
Key players: Salt Funds Management, Toitū Envirocare, New Zealand government.
The final Emissions Trading Scheme (ETS) auction of the year did not clear, marking the fourth such instance in 2023.
With 15 million New Zealand Units (NZUs) on offer and a floor price of $60 a unit, the auction saw record low interest from bidders, with bids coming in for just over 3.6 million
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