The failure of the carbon auction is not a failure, the climate change minister and experts said
Asked if he was concerned that this year's auctions would not be cleared, Climate Change Minister James Shaw said: “No. Markets are constantly fluctuating.” It is increasingly likely that the government will need to find around $1 billion in funding for climate-related initiatives, as it does not receive the money it has been relying on from the Emissions Trading System (ETS). (Jenée Tibshraeny, NZ Herald)
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