The City of Sydney and City of Melbourne have been relying heavily on cheap Chinese and Turkish carbon offsets to get to net zero. Does it make sense to pay foreign governments for projects which they would operate regardless? Callum Foote investigates.
What this seems to indicate is back to the Rudd/Gillard future and that comprehensive Carbon Trading Scheme that Tony Abbott’s LNP set out to destroy by calling it a tax. The report echoes the fact that our Nation has lost 10 years of possible progress towards becoming a global leader rather than the number one laggard when tackling carbon emissions.
Climate Change Authority Media ReleaseReleased today, the Climate Change Authority’s Review of International Offsets finds the international carbon market is still evolving in response to the Paris Agreement and calls for publication of a National Carbon Market Strategy that makes the most of this opportunity for Australia to accelerate ambition on emissions reduction.The review finds that while carbon is priced and traded in Australia, the market is fragmented, inefficient and complicated.
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