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Coalition considers letting power companies buy offsets to cut emissions


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The Turnbull government is hedging its bets on whether to allow energy companies to use external offsets to comply with their new 26% emissions reduction target. A new 12-page discussion paper obtained by Guardian Australia addressing the emissions reduction architecture of the national energy guarantee (Neg) suggests the government is yet to make a decision about whether domestic or international emissions offsets are in or out. Business has long supported the use of carbon credits as a low-cost means of reducing emissions, but the former prime minister Tony Abbott has styled himself as a fierce opponent, arguing offsets are a form of carbon trading where “Aussie consumers end up shovell­ing our money to foreign carbon traders – and we all know the ­potential for rorts there”. Despite the lack of clarity both on the use of offsets and the treatment of Australia’s emissions intensive trade-exposed (EITE) activities, the commonwealth is pushing the states and territories to sign off on further work on the Neg when energy ministers meet this Friday.

Read more: https://www.theguardian.com/australia-news/2018/apr/16/coalition-considers-letting-power-companies-buy-offsets-to-cut-emissions

Posted by on Apr 16 2018. Filed under News at Now. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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