He Pou a Rangi - Climate Change Commission provides advice to the Government on unit settings of the New Zealand Emissions Trading Scheme (NZ ETS). This is part the annual review process to ensure NZ ETS settings support our country's emission reduction targets.
Read more on the Climate Change Commission website
The NZ ETS impacts almost every part of our economy.
It does this by:
The Commission provides advice on NZU volumes and price control settings.
The Government limits the number of NZUs available, in line with New Zealand’s emissions 'cap'. This helps New Zealand meet its climate targets.
Price control settings at auctions set the 'guardrails' for high and low prices at auctions of NZUs. These settings are designed to ensure carbon emissions are priced appropriately.
Proposed changes to the NZ ETS will be finalised by the end of September 2024. This follows public consultation planned to start before mid-2024.