On Friday night at a CMI-hosted event in Paris, the Hon. Greg Hunt, Minister for Environment announced the dates for the 3rd Emissions Reduction Fund Auction, managed by Australia’s Clean Energy Regulator. More information will be forthcoming from the Regulator, and can be found at the their website here.
The following statement is an edited excerpt from the Office of Hon. Greg Hunt, Minister for Environment Press Release, the full details of which can be found here.
The third Emissions Reduction Fund auction will be conducted by the independent Clean Energy Regulator on Wednesday 27 and Thursday 28 April 2016.
The Clean Energy Regulator has already held two auctions, securing 92.8 million tonnes of emissions reduction at an average price of $13.12 (first auction average price was $13.95; second auction average price was $12.25 per tonne).
Interested farmers, landowners, businesses and community groups are encouraged to register under the Emissions Reduction Fund and participate in the third auction.
So far, over two-thirds of contracted emissions reductions have come from landscape management, avoided deforestation, reforestation, soil carbon and bushfire reduction. Hunt is confident that the third auction will build on the success of the first two auctions in helping to significantly reduce Australia’s emissions, and in working towards Australia’s 26-28 per cent 2030 target.
The above statement is an edited excerpt from the Office of Hon. Greg Hunt, Minister for Environment Press Release, the full details of which can be found here.