Extra carbon credits released from the Government’s reserve could enable polluters to emit over and above New Zealand’s climate targets, Newsroom warns. When the first Emissions Trading Scheme (ETS) auction of the year took place last week, enough bids were above the price cap that the Government was forced to release nearly six million extra carbon credits into the market from its reserve. Each credit – called a New Zealand Unit (NZU) – allows the holder to emit one tonne of carbon dioxide equivalent.

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