Australia won't cut its emissions to 5% below 2000 levels by 2020 and that will make it harder to meet the 2030 target, according to a new Energetics analysis released today.
The Emissions Reduction Fund has thrived while a global program creating cheap international carbon credits has withered, and that gives Australia big advantages, says carbon lawyer Martijn Wilder.
The New Zealand Government today announced a timetable for phasing out arrangements that allow companies to pay only half-price for their carbon emissions.
Tightening controls on large emitters and using cheap international units will allow Australia to eventually take on tougher carbon targets, Environment Minister Greg Hunt said today.
Australian companies could potentially gain a competitive edge in key export markets by packaging local carbon credits with their products, says Carbon Market Institute chief executive Peter Castellas.
A new study released by the NZ Government indicates its emissions trading scheme hasn't caused any sector except forestry to change its emissions behaviour.
The Paris climate talks 'changed the rules of the game' for business in Australia, and companies are working across traditional industry lines to find ways to respond, according to Carbon Market Institute chief executive Peter Castellas.
The Australian Government will back a New Zealand-led ministerial declaration on international carbon markets, a move that indicates overseas credits will be crucial in efforts to meet its 2030 target.