Govt to accept Climate Change Authority carbon market review recommendations
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The news: The federal government will accept all 15 recommendations that the Climate Change Authority (CCA) proposed to improve Australia's carbon credit markets, according to a statement from Climate Change and Energy Minister Chris Bowen.
The numbers: The 2023 CCA review found that the Australian Carbon Credit Unit market was performing well and did not lack integrity. The government also acknowledged a CCA review authored in 2020 under the former Liberal-National coalition government, which did not respond to the review.
The context: The government said it will accept 12 of the 15 recommendations made by the CCA in full, and three in principle.
The recommendations cover the approved methods to create carbon credits, information about offset permanence and ways to audit carbon credit schemes to ensure their integrity.
