There is one fundamental reason why companies wanting CFI carbon credits will be paying top dollar over the next couple of years, says Elisa de Wit, head of Norton Rose's Australian climate change practice.
New regulations confirm the Federal Government won't allow unused credits from NSW's soon-to-be-defunct greenhouse trading scheme to be recognised under its Carbon Farming Initiative, but major projects bound by state-based offset obligations can benefit from the scheme.
Shadow Climate Change Minister Greg Hunt has told CE Daily a Coalition Government might modify a requirement that offset projects store carbon for 100 years, but Climate Change Minister Greg Combet says it would result in 'phoney' reductions.