E te Māngai tēnā koe. Tēnā koutou e te Whare. This bill amends the Climate Change Response Act 2002 and the Climate Change (Auctions, Limits, and Price Controls for Units) Regulations 2020. Its purpose is to ensure that when the emissions trading scheme (ETS) units are auctioned for the first time next month, that they are sold at a price that reflects activity in the secondary market. It is a technical but necessary amendment that will help to create a more reliable carbon price signal and help ETS participants to make long-term investment decisions.