Our new analysis suggests the vast majority of carbon credits granted for regrowing native forests either has not occurred, or would have occurred anyway.
If problems in such schemes are not addressed, the credibility of soil carbon trading will be undermined. Ultimately the climate - and the planet - will be the loser.
Under the current rules, the federal government takes the most responsibility for buying carbon credits. A blockchain-driven market would be faster, smarter, and much more open.
Scott Morrison has given a new name to an old policy.
AAP/David Crosling
Scott Morrison’s pledge to spend billions on a Climate Solutions Fund is a thinly veiled rehash of the widely criticised Emissions Reduction Fund, which had much of its work undone by fine print.
Many of Australia’s biggest emitters have not yet engaged with the Emissions Reduction Fund.
AAP Image/Dave Hunt
The federal government has signalled its intent to prolong the Emissions Reduction Fund. But surveys of business leaders reveal widespread cynicism about a scheme perceived as politicised and bureaucratic.
The carbon farming initiative gives pig farmers the opportunity to earn carbon credits for reducing methane emissions from manure. The proposed change to this government policy may stall, or even end, this market.
Alan Skerman/AAP
Proposed changes to the government’s climate change policies may stall, or even close down, the market for ‘carbon farmers’ to profit from reducing carbon dioxide emissions.
The Emissions Reduction Fund is not capturing enough emissions from the most polluting industries.
AAP Image/Dave Hunt
Australia’s flagship climate policy, has spent more than $2 billion on emissions reductions, yet big businesses could wipe all this out. Time to resurrect the idea of a simple carbon tax.
The new climate policy review proposes loosening the rules on Australia’s biggest-emitting companies, such as power generators.
Marcella Cheng/The Conversation
The federal government’s keenly awaited review of Australia’s climate policies continues a longstanding bipartisan traditional of weak policy development in this area.
Some projects shouldn’t be receiving funding from the government. Yet, lack of proper monitoring has caused huge amounts of wasted money.
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A new analysis by ClimateWorks Australia says that the electricity sector needs to do far more to cut its carbon emissions than will be delivered by current policies.