Safeguard Mechanism lays the foundation for Australia’s decarbonisation, but policy misalignment underlines uncertainty, panel hears
Australia’s reforms to the Safeguard Mechanism have been the lynchpin in driving “overwhelming” interest and activity in the country’s carbon market and has spurred some participants to begin to plan their decarbonisation journey, but key questions hang over other parts of the government’s climate agenda.
Read MoreAustralia Market Roundup: ACCU prices stable as traders speculate on Safeguard demand, issuance drops
Spot prices for Australian Carbon Credit Units (ACCUs) have traded sideways for much of the past three months, with traders speculating that many facilities covered under the Safeguard Mechanism have already acquired all the credits they need to meet their obligations, at least for the first few years.
Read MoreAustralian senate committee recommends climate duty of care bill is rejected
An Australian senate committee has recommended against passing a bill that would enshrine a duty of care on policy makers when approving projects that will have a material impact on global emissions.
Read MoreAustralian pension fund hits back on demands to divest from coal
Simply divesting from fossil fuel companies is a poor tactic in the transition to net zero, an Australian pension fund said Wednesday after being criticised for walking back its exclusion policy on coal.
Read MoreBHP on track to cut emission by 30% by 2030, says pathway to net zero not linear
Anglo-Australian miner BHP is on track to achieve “at least” a 30% reduction in Scope 1 and 2 emissions by 2030, but says technology challenges mean its progress to reaching net zero emissions by 2050 will not be linear.
Read MoreUN doubles down on call for ‘solidarity levies’ from polluting industries
Countries need to look to new sources of climate finance including “solidarity levies” on sectors such as shipping, aviation, and fossil fuels extraction, the UN’s special adviser on climate change said on Tuesday.
Read MoreAustralian regulator fines carbon developer hopeful over greenwashing allegations
An Australian fertiliser company has been fined for greenwashing by the country’s market watchdog over claims it made regarding its aspirations to develop a reforestation carbon project in the Philippines.
Read MoreRio Tinto wants biofuels feedstock production to be eligible to earn ACCUs
Australian miner Rio Tinto has urged the federal government to allow farming projects that grow feedstock for biofuels and renewable diesel to be able to earn Australian Carbon Credit Units (ACCUs).
Read MoreAustralia consults on draft ’30 by 30′ terrestrial roadmap
The Australian government is seeking feedback on a draft roadmap to show how it will reach its goal of restoring and protect 30% Australia’s land by 2030.
Read MoreAustralia Market Roundup: Former NSW energy minister to chair Climate Change Authority, regulator issues 750,000 ACCUs
The federal Labor government has appointed the former New South Wales Liberal Energy and Environment Minister and Treasurer Matt Kean to chair the Climate Change Authority (CCA), following the resignation of Grant King.
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