Carbon credit have been round for years, however they’re entrance and centre within the Albanese authorities’s trailblazing local weather motion plan. Consultants say as a lot as a 3rd could possibly be bogus.
Australia’s dirtiest firms should buy bogus carbon credit that permit bushes to be supposedly grown within different bushes, regardless that a landmark evaluation stated areas of present vegetation shouldn’t depend.
Carbon credit have turn out to be a significant speaking level of the Albanese authorities’s local weather coverage crown jewel, the safeguard mechanism, the place the 215 greatest polluters should hold their emissions beneath 4.9% or buy offsets — referred to as Australian Carbon Credit score Models, or ACCUs.
However Local weather Minister Chris Bowen has not set a restrict on the variety of carbon credit a significant polluter should buy. Polly Hemming, appearing director of the Australia Institute’s Local weather and Vitality program, says this infinity clause is inflicting a “giant provide of doubtful carbon offsets” to flood the market.
Hold studying about Australia’s dodgy carbon credit…
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