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Australia frees up carbon credits for sale to private market

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MELBOURNE : Australia on Friday cleared the way for millions of carbon credits to be sold to the private market instead of to the government, allowing developers of carbon abatement projects to potentially earn more for their emissions reductions.The surprise change in policy immediately hit the carbon ma

MELBOURNE : Australia on Friday cleared the way for millions of carbon credits to be sold to the private market instead of to the government, allowing developers of carbon abatement projects to potentially earn more for their emissions reductions.

"This will allow projects to take advantage of higher market prices over time," Emissions Reduction Minister Angus Taylor said in a statement. The new policy could result in up to 6.7 million ACCUs becoming available by June, and up to 112 million by 2030, RepuTex said.

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