Here comes the REALLY BIG Carbon Market
May 5, 2016 Louisa Kiely
Just been sitting at the carbon trading conference in Melbourne at the hallowed MCG, at the 3rd Australian Emissions Reduction Summit.
They concentrated here on the Paris Agreement, (the historical carbon agreement decided in Dec last year) and what that might mean for Australia and our emissions trading future.
In Paris, there was consensus that the World needed to take such actions on Climate Change which will keep the world’s temperature rise below 2 degrees with an aspiration for it to be only 1.5 degrees.
There were very credible speakers at the conference from a variety of countries. And many countries ARE NOW engaged.
The rest of the world IS moving and its up to us now to stamp Australia’s authority on our ability to improve our soils via carbon sequestration, reduce agricultural emissions and provide to the market credible carbon credits – for Australia and for the world.
I’ve got 4 out-takes to share:
1. The task to keep the world to less than a 2 degree temperature increase is BIG and will take ALL measures to achieve. Sequestration, emissions reduction and other responses.
2. Market mechanisms, or markets WILL form a very big ‘tool’ to achieve the goal.
3. Australia’s experience in the carbon market – courtesy of the Carbon Farming Initiative and the Emissions reduction fund means we have a well regarded supply of Carbon Credits (Australian Carbon Credit Units) .
4. There is potential to export our credits in the future BUT – there is also the potential for International Units to come into our market. Its another case of making sure we have a decent market share! We must continue to stand up for “Australian Made” carbon credits.
So, the future is bright but, my friends, there is work to be done, as usual.
For instance: We have a few ‘elephants in the room’ still – the cost of measuring soil carbon, the lack of decent abatement in the current methods is another.
So, its back to the politicians door for me – an election campaign may give a few opportunities to influence.
As ever, I’m on 02 6374 0329 – or email