Australian companies forced to cut their pollution under the Albanese government’s upgraded climate target will not need to resort to controversial international carbon credit schemes to meet their targets according to new modelling by RepuTex.
A fresh round of lobbying by big miners, gas exporters and manufacturers will follow and they are expected to ask for permission to buy and count carbon credits that are generated overseas, as they did in 2012 after the Gillard government introduced a Carbon Pricing Mechanism. Energy and Emissions Reduction Minister Chris Bowen will release a discussion paper this week on his proposed emission reduction plans.Bowen said in June he would not move on international offsets unless he was “entirely satisfied about the integrity of those offsets”.
Taylor instructed the Clean Energy Regulator to create new rules to allow companies that were contracted to sell $2.6 billion of carbon credits to the Commonwealth’s Emissions Reduction Fund to break their contracts and sell them for more to private companies.
“Given we have such a large pool of domestic offsets, at low cost, and with high co-benefits – such as job creation, investment, and environmental benefits – it raises the question, what is the need for international offsets?” Grossman said.“International offsets may be better suited to a world where Australia scales up its emissions reduction target to a 1.5°C trajectory, or where companies are required to offset their downstream emissions,” he said.
The Minerals Council and the Australian Petroleum Production and Exploration Association have continued to argue for Australian companies to be able to access international carbon credits.
micksfoley Third world, here we come, the tiffs in the Labor caucus will be looked after, that's all that matters.
micksfoley Nitrogen bans will destroy farming. Mining will be hobbled. Home heating will be much more expensive. Power outages will soar. We will be a poorer country.
micksfoley Get used to supply side inflation plebs. Your Vote matters - and that is why you will suffer.
micksfoley Never forget-
micksfoley Insanity.
micksfoley