The Stockholme Environment Institute study claims 73% of ERUs from mainly Russia and Ukraine are questionable and may not be linked to any real emission cuts. Many of these units are likely to have ended up in New Zealand. Since 2012 at least 70% of units surrendered in the NZ ETS have been ERUs.
Read more about the Stockholme report at Carbon Pulse.

Government figures just released show 4.5 million NZUs were gifted to industry in 2014, valued at $30.6m at the current carbon price of $6.80. During the same period 97% units surrendered under the ETS were overseas Kyoto units at an average price of 10 cents. The total given to 'trade exposed' industry since 2010 stands at 14.1 million, valued at $95.9m. Read more at Radio NZ.

CFS talks to Carbon Pulse about implications of Kyoto cancellation process on holders of overseas Kyoto Units. 

Read more at Carbon Pulse here: http://carbon-pulse.com