The government will revamp a climate mechanism introduced by the Coalition government, proposing a 4.9 per cent cut on allowable emissions for the nation's biggest emitters each year to 2030.
abc.net.au/news/safeguard-mechanism-carbon-reduction-plan-released/101840296The federal government will impose stricter carbon emissions limits on the nation's biggest polluters from July, cutting an accumulated 200 million tonnes of carbon dioxide emissions by the end of the decade.
The emissions ceilings or "baselines" of each facility will now initially be determined individually, and then will be lowered by 4.9 per cent each year to 2030. The mechanism works effectively as an emissions trading scheme: facilities that fall below their baseline will earn carbon credits that can be purchased by facilities that exceed their baseline to help them meet their requirements.
The Australian Conservation Foundation warned allowing companies unlimited access to carbon credits would enable them to pay to keep polluting, putting the goal of net zero emissions by 2050 at risk. Ahead of the announcement, the Climate Council said the simplest method to ensure major polluters reduced their carbon emissions by a fair and proportional amount would be to require them to cut their emissions by 43 per cent by 2030.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia urgently needs a trusted carbon marketGreater transparency and more robust assessments means scaling up the carbon market should start without delay.
Read more »
Carbon credit review finds scheme is working effectivelyAn independent review into the government's carbon credit scheme has rejected suggestions it is fundamentally flawed, but has made a series of recommendations to improve its transparency and integrity.
Read more »
Carbon credit scheme fraud claims ‘overstated’: Chubb reviewClaims that Australia’s carbon credit scheme has been defrauded have been exaggerated and the system is “essentially sound”, a report to the federal government says.
Read more »
Carbon crediting framework is ‘basically sound’ but there are a ‘range of improvements’ neededCarbon Market Institute CEO John Connor says the carbon crediting framework is “basically sound”, but there is a “range of improvements” that can be there to make sure it’s “fit for purpose”. “It’s time to review, it’s important it’s found that there’s basically a sound framework, and it’s important we now move on,” Mr Connor told Sky News Australia. “We should make it more transparent to the public and others who are trying to scrutinise this framework, and I think that’s very important.”
Read more »
‘Felt like a gotcha moment’: Critic alleges carbon credit ‘interrogation’A leading critic of carbon credits, Dr Megan Evans, says she was subjected to hostile questioning by an official inquiry into the scheme.
Read more »
Controversial carbon credits supply to be limitedThe controversial carbon credits earned by landowners for protecting forest they had no intention of clearing will be banned, under changes to the carbon emission market.
Read more »