Failure of climate auction highlights government inaction

The lack of bids at today’s ETS auction is a sad indictment on this Government's staggering indifference to the climate crisis and their lack of a plan. 

“The market clearly lacks confidence in this Government, and is responding to the reality of the coalition’s inaction over their rhetoric,” says Green Party co-leader Chlöe Swarbrick. 

“This morning the Minister of Finance seemed caught unaware about how the Emissions Trading Scheme works, and this afternoon, that market showed it has no confidence in the Government through the failure of its ETS auction

“While shredding climate action policies, the Government crows about leaving mitigation to the market through the ETS. But since taking office, their policy and budget decisions have bottomed out the confidence of that very market.

“None of it adds up.

“All of these Government decisions simply pile more suffering and more cost onto people and planet, ”says Chlöe Swarbrick. 

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