Australia is in the process of reforming its carbon market but the government will not put in place new policies to drive private sector demand, hoping instead for an increase in voluntary buying interest, Energy and Emission Reduction Minister Angus Taylor said Friday.
Australia to rely on voluntary demand to grow carbon market
Australia is in the process of reforming its carbon market but the government will not put in place new policies to drive private sector demand, hoping instead for an increase in voluntary buying interest, Energy and Emission Reduction Minister Angus Taylor said Friday.
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Last summer’s bushfires burnt an area the size of Portugal. In response, the Australian government hopes that it can achieve its modest Paris Agreement target. And should hope prove unsuccessful, then the option of using carry-over Kyoto units remains on the table. In short, Australia’s climate change policy is on based on hope and cheating if required.