The Clean Energy Regulator expects a rapid change in the carbon credit market towards long-term contracts, as big commercial buyers look to secure a reliable supply of credits.
Plans to achieve net-zero by 2050, or even 2040, will increasingly be viewed by consumers as unacceptably weak, says the chief executive of an international carbon fund largely backed by Australian investors.
The Climate Change Authority today launched a wide-ranging review of carbon offsets, and will this year also examine Australia's sequestration potential, as well as the performance of the ERF and NGER regimes.
ASX-listed oil and gas company, Karoon Energy, which has a market cap of $1.1 billion, today announced an eight-year deal to purchase more than 480,000 carbon offsets from Shell.
An ASX-listed company with plans to develop cement, mining, energy and carbon offsets projects in PNG claims it could generate credits worth billions of dollars.
Chevron has this month voluntarily cancelled 80,000 ACCUs, as part of its undertaking to surrender 5.3 million carbon credits of various types by the end of July.