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MEDIA RELEASE: – ERF funding provides certainty for investment in carbon abatement

Media Releases and Statements ,News ,Press Coverage »

Fri, 24/04/15 – 14:15 | Posted by James Schultz

Contracts awarded under the first Emissions Reduction Fund auction means certainty for continued investment in carbon abatement activities, according to Australia’s peak body for carbon market participants.

“Following the repeal of the carbon tax, Australia’s domestic carbon offset market – the Carbon Farming Initiative – was set to stall completely with no purchaser for Australian Carbon Credit Units,” says Carbon Market Institute chief executive officer Peter Castellas.

“However with the transition of these projects to the ERF and awarding of contracts under the first ERF auction, Australian companies that offer vital carbon abatement technologies and services can continue to build their businesses,” he continues.

“We need to continue to build the competency and capacity of the domestic carbon abatement industry to meet ever increasing national emissions reduction challenges,” says Castellas.

“The administration role of the Clean Energy Regulator has been critical to preserve the well-designed, well-governed domestic carbon offset scheme. The market participants have great confidence in the Regulator,” he says.

“Solid contracts with significant sums will definitely encourage other project proponents under new ERF abatement methods to consider participating in the second and subsequent auctions,” Castellas suggests.

“The crediting and purchasing arrangements under the ERF are, however, only one important component of a suite of policy measures needed to achieve Australia’s emissions reduction target,” says Castellas.

“The abatement secured under the ERF funding provides some market certainty. It is now critical that the third component of the government’s ERF, the proposed safeguard mechanism, also provides certainty,” says Castellas.

“With the funds allocated, the ERF can do some of the important heavy lifting of emissions reductions in the next few years but limiting emissions growth in the period 2020-2030 also needs to be considered as a central part of the initial policy framework and, as such, the final design of safeguard mechanism will assume great importance,” he says.

“Through consultation, the government has the opportunity to set the rules around the safeguard mechanism so it is designed and implemented as an enduring measure that provides long-term policy certainty, drives demand for domestic abatement and is a market-based approach to limit emissions growth in the economy and meet emissions reduction targets,” says Castellas.

“Now that the ERF is operational, it’s time we revisited a mature bipartisan debate on the consideration of a role of a comprehensive market-based approach to emissions reduction in Australia’s climate policy mix,” says Castellas.

The results of the ERF auction will be discussed at CMI’s 2nd Australian Emissions Reduction Summit at the MCG on 5-6 May 2015.

Clean Energy Regulator chair and CEO Chloe Munro will be speaking at the Summit about participating in the ERF and increasing carbon abatement potential. In addition, the CER will run two workshops where delegates can hear first-hand from a panel of experts insights from the ERF auction and next steps.

Dedicated sessions and expert speakers on Australian climate policy include:

  • Hon Greg Hunt MP, Minister for the Environment
  • Senator Nick Xenophon, Independent Senator for South Australia
  • Chloe Munro, Chair & CEO, Clean Energy Regulator
  • Dr Steven Kennedy, Deputy Secretary, Department of the Environment

And Emissions Reduction Fund workshops run by:

  • Green Collar - Generating income from environmental markets
  • Norton Rose Fulbright - Understanding the legal and contractual issues to participate in the ERF
  • Clean Energy Regulator - Emissions Reduction Fund: options, opportunities and next steps
  • EY - Key considerations for ERF participants
  • Corporate Carbon Solutions - Secondary market solutions for ERF contract implementation. 

UN climate change chief Christiana Figueres will present the international keynote at the Summit. She joins a world class line up of speakers.

The Summit program can be downloaded at http://www.carbonmarketinstitute.org/events/2nd_australian_emissions_reduction_summit.

For more information, please contact:

Carbon Market Institute General Manager Communications Gabrielle Callahan

Phone: 03 8601 1142 or 0408 997 486

Email: gabrielle.callahan@carbonmarketinstitute.org

Website: www.carbonmarketinstitute.org

Twitter: @CarbonMarketIns

 

Rural Social Network – Farmz.com.au
Thu, 5/02/15 – 16:20 | Posted by James Schultz

GreenCollar is proud to announce our support for the newly launched social media network Farmz.com.au.  The social network site is the brainchild of sixth-generation beef cattle producer Alex Sparkes and is now helping farms across …

Carbon Farming and GreenCollar on Landline
Wed, 12/11/14 – 11:36 | Posted by James Schultz

 – this Broadcast was originally aired on the The ABC’s Landline, 9 November 2014 
Carbon Farming 
Reported by Sean Murphy
Landline ABC
November 9, 2014

http://greencollarclimate.com.au/wp-content/uploads/2014/11/LANb_CarbonFarming_0911_512k.mp4
 
PIP COURTNEY, PRESENTER:
Last week, the Senate breathed life into the Abbott Government’s Direct Action climate policy, which …

The Age: Wide, brown land becomes a home to carbon farming
Thu, 21/08/14 – 11:50 | Posted by James Schultz
The Age: Wide, brown land becomes a home to carbon farming

 – this article was originally published on the The Age website, 17 August 2014 
Wide, brown land becomes a home to carbon farming
By Tom Arup
Environment editor, The Age
August 17, 2014
On Peter Yench’s sheep farm the bulldozers are ready. …

MEDIA RELEASE: First carbon credits issued from protecting native forest in NSW Western Lands
Mon, 24/02/14 – 12:38 | Posted by GreenCollar
MEDIA RELEASE: First carbon credits issued from protecting native forest in NSW Western Lands

SYDNEY, 24 February 2014 – GreenCollar Group is pleased to announce issuance of the first ever Australian Carbon Credit Units (ACCUs) for a Native Forest Protection project on a Western Lands lease.
This is a significant achievement for …

Leaked IPCC report says time to act on climate is now
Mon, 20/01/14 – 16:40 | Posted by GreenCollar

The longer we wait to mitigate the detrimental levels of carbon dioxide (CO2) thrown into the atmosphere, the harder it’s going to be to work against rising temperatures, according to a leaked draft report from the …

World agriculture ministers say climate change causing food shortages
Mon, 20/01/14 – 11:24 | Posted by GreenCollar

Efforts to rid the world of hunger face “immense challenges” as farmers deal with resource scarcity, climate change and loss of soil fertility, agriculture ministers from 65 countries have said, according to media reports.
Economic and …

CO2 emissions in the US on the upswing
Wed, 15/01/14 – 11:31 | Posted by GreenCollar

Carbon dioxide (CO2) emissions in the US rose by 2 per cent last year, the US Energy Information Agency reported, beginning a climb up, despite still being lower than during strong economic performance years.
Some 5.38 …

More renewables investment needed: UN climate chief
Wed, 15/01/14 – 11:28 | Posted by GreenCollar

The UN climate chief Christiana Figueres has urged global financial institutions to triple their investments in clean energy to reach the US $1 trillion a year mark that would help avert a climate catastrophe.
In an interview with …

MEDIA RELEASE – NATIVE FOREST PROTECTION PROJECTS
Mon, 6/01/14 – 13:45 | Posted by James Schultz

 SYDNEY, 6th of January 2014 – GCS is pleased to announce the approval of its latest Native Forest Protection project under the Carbon Farming Initiative (CFI) – the first ever on leasehold land.
The declaration of …

New Native Forest Protection Project approved
Mon, 6/01/14 – 12:00 | Posted by James Schultz

SYDNEY, 6th of January 2014 – GCS is pleased to announce the approval of its latest Native Forest Protection project under the Carbon Farming Initiative (CFI) – the first ever on leasehold land.
“Approval for this …