Australia's carbon credit reforms divide Senate inquiry

Summarised from 2 outlets · Updated 30 Oct, 17:22 · Archive

Australia's proposed reforms to its carbon credit scheme have divided a Senate inquiry, with concerns raised both for and against the changes.

A Senate inquiry on Friday examined proposed reforms to Australia's carbon credit scheme, which allows businesses and governments to purchase Australian Carbon Credit Units to help meet climate targets. Each unit represents one tonne of carbon dioxide equivalent avoided or removed from the atmosphere.

The proposed changes would give the environment minister power to stop projects using flawed methods, grant the Clean Energy Regulator greater enforcement powers, and tighten eligibility and auditing checks. Emissions Reduction Assurance Committee chair Karen Hussey warned that the ministerial powers could undermine business confidence if weaponised against certain projects. "The very existence of this power will send chills through the market, which is understandable but regrettable," she said, arguing the powers should be used only as a last resort.

Academic researchers and environmental groups criticised the scheme and proposed changes as insufficient. They singled out three revegetation projects showing little sign of progress, describing them as attempting to regrow "forests on the moon". Andrew Macintosh, director of Australian National University's Centre for Environmental Markets, said land used in some carbon credit projects was incapable of meeting forestry growth targets despite having generated credits.

How it is being reported

• 'Forests on the moon': carbon credit reforms under fireReforms to Australia's carbon credits have divided an inquiry, with critics warning they will not do enough while others argue they could undermine confidence.Perth Now · 30 Oct, 16:36
• 'Forests on the moon': carbon credit reforms under fireReforms to Australia's carbon credits have divided an inquiry, with critics warning they will not do enough while others argue they could undermine confidence.The West Australian · 30 Oct, 16:36

In this story: Australia · Senate · Clean Energy Regulator · Emissions Reduction Assurance Committee · Karen Hussey · Andrew Macintosh · Australian National University

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