| Sourced From Bloomberg |
The spot price for emissions credits in New Zealands carbon market remained unchanged at NZ$18.75 ($13.41) per ton this week as emitters waited for more supply to reach the market, Auckland-based broker OMFinancial Ltd. said.
Greenhouse gas emitters are waiting for credits backed by forests planted before 1990 to be approved by the government for trading, OMFinancial said in an e-mailed statement today.
In New Zealands carbon trading system, credits are divided between units backed by forests planted before 1990 and after, in accordance with the Kyoto Protocol. The government is still allocating units to farmers with pre-1990 forests.
Companies that emit greenhouse gases have the option to pay a carbon tax of NZ$25 per ton of emissions or buy carbon credits.
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Tom Aikins
on Sep 8th, 2010
@ 8:11 pm:
Interesting that more supply is needed. This will get producers working harder.