Greater transparency and more robust assessments means scaling up the carbon market should start without delay.
As we digest the conclusions of the independent review of Australian Carbon Credit Units led by Professor Ian Chubb, there are two key goals we must aim to achieve through the impending market reset.
Important improvements or changes are suggested for three methods under scrutiny. Changes for human-induced regeneration are largely transparency-related. The current For that reason, the second key goal must be to rapidly scale up the production of robust, trustworthy carbon credits, while also sending clear signals to business to invest in at-source decarbonisation.Big reforms like the enhanced safeguard mechanism will help facilitate this, encouraging businesses to find cost-effective ways to invest in emissions reductions while providing a framework for government to meet domestic targets and challenges.
With the right settings, the strengthened mechanism will provide more powerful investment signals to the supply and demand sides of the carbon market.
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