Waste company Transpacific today announced it will buy international carbon credits to give to the Federal Government, and will also allocate $5 million for community projects to cut emissions.
A protocol finalised today is likely to deliver millions of extremely cheap international carbon units to the Federal Government free of charge, while also reimbursing about $100 million to councils.
A case that dragged on for eight years has concluded with a ruling that land clearing controls didn't rob a farmer of carbon rights or other entitlements.
A draft carbon rule proposes a new formula for setting penalties, and would allow those operating sequestration projects to cease reporting to the Regulator without having to demonstrate the stored carbon is permanently locked-up.
A large chunk of the abatement the Government agreed to buy at the first ERF auction won't take Australia any closer to meeting the 5% national emissions reduction target, even if it is delivered by 2020.