New supplier to run New Zealand Emissions Trading Scheme auctions 

The new supplier is CBL Markets (Australia) Pty, a subsidiary of global environmental markets expert Xpansiv Limited, which trades as ‘Xpansiv’.

The appointment follows an open tender process in line with Government procurement rules requiring the Ministry to go to market at the end of the existing contract term.  

NZX will operate the June 2026 auction under the current contract. Xpansiv will take over delivery of auctions from September 2026, with a contract term through to 31 December 2030 and an option for the Government to extend to the end of 2035.  

Xpansiv brings significant global experience in operating regulated environmental markets and auction platforms across multiple jurisdictions. The Ministry will work closely with NZX and Xpansiv to support a smooth transition for auction participants.

The Ministry thanks NZX for operating NZ ETS auctions since 2021. NZX has delivered a quality service without issue, and the Ministry is working with NZX to ensure a smooth handover to the new provider.

ETS auctions are an important part of how the NZ ETS works. They are the main way the Government sells new NZUs into the market. By deciding how many units are available each year, auctions help limit total emissions in line with New Zealand’s emissions budgets and climate targets. Auctions also help set a transparent carbon price through bidding, which encourages businesses to reduce emissions and invest in cleaner options over time.

The new provider will use a different auction platform, so the Ministry and Xpansiv will provide clear and timely information to participants ahead of the first Xpansiv-run auction in September, including how to register and take part.