Unless or until Australia has an emissions trading scheme, the government should specify that a proportion of its emissions reduction target must be met by investing in tropical forest retention programs, says a carbon policy expert.
The Chicago Climate Exchange inspired the Coalition's soil carbon push, but exchange prices for soil carbon and other offsets have collapsed – and the scheme rules out creating credits in low-rainfall areas.
Developed countries should jointly reduce 2020 emissions by "at least" 30% and halt global forest loss no later than 2030, but reaching a position on CCS will be difficult, say internal EU negotiating papers obtained by CE Daily.
The Coalition doesn't favour emissions trading or a carbon tax, but hasn't ruled out an energy efficiency trading scheme, shadow climate change minister Greg Hunt tells CE Daily.
Dumped Coalition leader Malcolm Turnbull today accused new leader Tony Abbott of not wanting to do anything about climate change, but Abbott's likely new climate spokesman Greg Hunt says it's time to look at what 'direct action' can deliver.