Carbon Pricing, page-17

Business is increasing reducing it's emissions despite the Federal Government. Just because Angus has structured the ACCUs around defunct the morally bankrupt policies of the LNP..... doesn't mean that business voluntarily looking to offset their emissions won't see (and pay for) the emissions reduction in the Hazer process.

From an article I posted above recently...

"Corporates looking to voluntarily offset their emissions have also turned to the ACCU market to meet this need, but the surging price of ACCUs means they trade at a significant premium to offset units that may be purchased from overseas.

Recent examples of companies receiving carbon neutral certification have seen these companies purchase just a small portion of their carbon offsets from local projects.

While the Australian produced ACCUs are now trading at above $20 per tonne, international units can still be purchased from projects in China, India, and Turkey for less than $1 per tonne.

Reputex says placing limits on the use of the much cheaper, and often lower quality, international emissions offsets would boost investment in new emissions reductions projects in Australia, and further support the emergence of Australia’s domestic voluntary carbon market.

“At present, around 95 per cent of all Australian voluntary action is being directed to international carbon offsets, which is seeing local capital flow overseas, rather than into Australian abatement projects that create jobs and improve our natural assets,” Grossman said.

“As the market evolves, we expect a flight to quality will result in increased demand for Australian offset projects, but if the government were to set limits on the use of international offsets, we could see investment in local offsets surge.”

“Australia has a significant opportunity to unlock new emissions reduction opportunities, but the offset market will need guidance – both via a target and rules to encourage private sector investment into local projects,” Grossman added.

Meanwhile, the Morrison government is currently consulting on proposed new rules under the Emissions Reduction Fund that would enable carbon capture and storage projects to be awarded ACCUs for emissions stored in the production of hydrogen."