Last week, on Thursday 13 July 2023, the Government admitted in the High Court that it had not followed its own climate law in setting prices for Government auctions of carbon credits. Lawyers for Climate Action had brought the case against the Minister for Climate Change. The Court has directed the Government to review its settings. This morning, Monday 17 July 2023, the secondary market has reacted with carbon credit prices jumping from $38 to $45. We are recommending that our clients hold on to their credits as prices recover.
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