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’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.
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.
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.
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 federal government’s keenly awaited review of Australia’s climate policies continues a longstanding bipartisan traditional of weak policy development in this area.
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.