NZCX Congratulates Govt On Emissions Trading

NZCX congratulates Government on its openly competitive emissions trading scheme

New Zealand Carbon Exchange Limited (NZCX) today congratulated the Government for its announcements allowing an openly competitive market for NZ’s emissions trading scheme and including international linking in its design.
 
“The Government’s proposed emissions trading scheme is a positive signal that New Zealand should be focused on truly reducing its greenhouse gas emissions, and that this can be achieved through market based mechanisms,” said NZCX Director, Murray Dyer. Mr Dyer also commented that “NZCX welcomes the Government’s decision on a competitive market model allowing full and open trading with international linking”.
 
Director Karen Price also noted that “the phasing in of sectors will likely see over-the-counter brokered trading predominate, with a move towards a more formal market beyond 2013. An ‘all sectors, all gases’ regime means that knowledge of specific allowance unit types, and associated risks is critical, so NZCX’s experience will be valuable in assessing the options and opportunities available in the various carbon markets.”
 
Director Stuart Frazer also highlighted NZCX’s international transaction capabilities and stated that “NZCX’s relationship with London-based CantorCO2e provides us with access to the worldwide emissions market and the use of CantorCO2e’s electronic trading platform. Access to this global expertise also means that we offer our clients a regular flow of term sheets on both the Kyoto and voluntary markets.” 
 
ENDS

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