The government’s carbon reduction scheme allows Australia’s biggest polluting companies could stockpile billions of dollars of carbon credits but the Greens say the measures don’t go far enough.
“Greens say they have concerns. That’s fair enough. That’s the process.“But our track record is getting things through. And I intend to get this implemented.”
High-emitting facilities that overshoot their cap will need to purchase carbon credits on the open market such as from landowners planting trees, or from companies that over-achieve on their emission reduction and have surplus credits.Australian carbon credit units now cost about $34, which will rise over time as the emission limits become stricter.
Although $75 is more than double the current domestic carbon price, it is well below the European carbon price of about €85 .
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