Federal Energy Minister Chris Bowen and the Greens have agreed on amendments to the Safeguard Mechanism including a requirement for net zero scope 1 emissions for new gas projects, separate methane and nitrous oxide reporting, and mandatory explanations for high offset use.
The Australian Sustainable Finance Institute's has released its final sustainable taxonomy recommendations and says there was overwhelming support from stakeholders for a framework which guards against greenwashing and supports capital flow into sustainable economic activities.
In a dissenting report to the Senate's recommendations on the Safeguard Mechanism (SM) reforms, the Greens have remained steadfast in their position, urging the senate not to pass the Bill "given the danger that new coal and gas projects pose to a stable climate."
The Australian Securities & Investment Commission has launched its first court action for greenwashing, with proceedings in the Federal Court commencing against Mercer Superannuation (Australia) Limited for allegedly misleading consumers about the sustainable nature of its investment options.
The development of a congestion relief market (CRM) and a review of the national hydrogen strategy were among the top priorities agreed upon at the first Energy and Climate Change Ministerial Council (ECMC) meeting, held last Friday.
The NSW government will measure the cost of carbon for new government infrastructure projects across the state to help cut emissions and building costs.