NZUs unchanged in quiet trade at $23.70.
There have been a few conversations here on the impact to forestry supply over the averaging decision. As mentioned, many forest owners were hoping old post-1989 forests in the ETS would be allowed to move to averaging unlocking an amount of free carbon. Now, only new forests and those planted from 2001 onwards that are not already in the ETS will qualify.
The impact is significant. It means most of the NZU supply in the registry held by these forest owners will have to be returned on harvest. It is interesting to note…
