South Australia should try to join California's emissions trading scheme, according to a new briefing commissioned by the state government and prepared by climate economist Ross Garnaut.
The federal government will tip an extra $1.8 billion into climate action over 10 years, with a stronger emphasis on hard-to-abate sectors, hydrogen, transport, energy productivity, soil carbon and CCS.
The Queensland government has offered a total of $93 million in grants to proponents of 21 nature-based greenhouse gas abatement projects, including five proposed by carbon offsets company GreenCollar.
HSBC and climate change advisory firm Pollination Group plan to raise US$6 billion for investment in nature-based projects and Australia is likely to attract a significant portion, according to Pollination co-founder Martijn Wilder.
A new Western Australian pilot program will provide state government funding to projects that create carbon credits by protecting biodiversity in national parks and reserves.
US global investment firm KKR has taken a minority stake in Australia's largest carbon offsets company, and former Business Council president Grant King has joined its board.