One of Labor’s key plans to deliver its climate change promises faces a major challenge as a review kicks off into the $4.5 billion Emissions Reduction Fund, with experts warning the scheme set up under the former government has been selling credits for worthless carbon reduction projects.
Labor does not need the support of the parliament to create new laws for climate action, it can implement its pollution reduction schemes without a vote.But the designer of the fund’s carbon credit rules, ANU Professor Andrew Macintosh, on Friday published new analysis that he said reveals “grave concerns about the integrity of the scheme”.
Macintosh served as the inaugural chairman of the ERF assurance committee for six years. His analysis found landholders have been awarded credits for protecting trees that, based on historical rates of land clearing, were very unlikely to have been cut down.
micksfoley Can we see an end to offsets please? We need actual emissions reductions, not spreadsheet juggling.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: smh - 🏆 6. / 80 Read more »