Australia is reforming its emissions policies
Australia softens stance on international offsets
Government to consult on potential law change allowing big emitters to use offsets generated abroad to meet domestic limits
The Australian government has signalled it could reverse a ban on the use of international offsets by the country’s biggest industrial emitters to help meet domestic emissions limits. The softening of its stance comes as the centre-left Labor government plans a series of reforms aimed at getting on track to meet its Paris Agreement commitments, which would mean reducing emissions to 43pc below 2005 levels by 2030 and hitting net zero by 2050. Under current rules, large industrial emitters covered by Australia’s Safeguard Mechanism can only use domestic offsets, called Australian Carbon Credit Units, to keep within emissions limits imposed by the government. The Safeguard Mechanism, which has
Also in this section
17 September 2024
North Sea storage facility verified as safe to proceed after successful pilot phase
9 September 2024
Addition of CCS was a factor in court’s decision to overturn FERC’s authorisation for NextDecade’s Rio Grande LNG project
2 September 2024
Recently finalised investment tax credits have brought much-needed clarity for Canadian CCS developers, but carbon price uncertainty remains a concern
29 August 2024
Use of captured carbon to make synthetic fuels merits more attention from investors and policymakers
