While it is important to focus on survival and relief during the COVID-19 crisis, we do need to consider recovery implications and needs. Current economic shock waves won’t alter the climate crisis. Global emissions are predicted to dip between 0.5% and 2.2% this year, but rebound next year if there is no significant reform or re-direction.
The good news is we have a policy and technological toolkit ready to respond.
CMI is engaging with Government on ways the Emissions Reduction Fund (ERF) can address short term impacts. The ERF’s reliance on public funds is now even more unsustainable in the medium-term. We should plan now to align post-virus economic repair with land and climate repair requirements following last Summer’s devastating bushfires. This includes: reforming the Safeguard Mechanism, so its emissions baseline requirements decline over time; transition assistance, and; access to carbon reduction credits now funded by the ERF.
Australasian Emissions Reduction Summit
We have postponed the 7th annual Summit. It will now be held 2-3 December 2020, at the MCG, Melbourne. The Summit is a significant part of our work and we are grateful to sponsors and registrants who have continued their support. We will be providing sponsors with additional platforms to promote their work, and welcoming registrants as our newest professional network members.
Virtual Program Launch
As we work to continue our services, CMI is adapting and working remotely. We are looking at new ways to ensure the industry can connect, communicate and collaborate. For those also housebound and interested in accessing carbon market intelligence, insights and education, I am delighted to announce the following initiatives:
1. Carbon Conversations
CMI will host “Carbon Conversations” webinars at midday for one hour most Fridays (AEDT/AEST). This Friday’s inaugural event will feature Clean Energy Regulator (CER) Chair David Parker and cover outcomes of CER’s 10th ERF auction. I’ll also be joined by Raphael Wood from Market Assurance Group and Elisa de Wit, Interim Chair, Carbon Market Institute and Partner, Norton Rose Fulbright Australia to discuss broader implications of the auction and COVID-19 for carbon markets.
Occasionally these sessions will be publicly available. Otherwise to participate and have access to other exclusive CMI digital content, you will need to be a delegate of a Corporate or Associate CMI Member or a Professional Network Member.
We will publish an agenda for the next round of Carbon Conversations shortly.
2. CMI & CER PUBLIC WEBINAR SERIES
Our planned national seminar series, Participating in Australia’s Carbon Markets to Meet Corporate Climate Goals, will now be delivered by webinar. These will take an in-depth look at Australia’s carbon market and how the corporate sector is engaging with emissions reductions and carbon offset markets. Information about these webinars will be published with the Carbon Conversations Agenda.
3. CMI MEMBERSHIP & MEMBERS PORTAL
We are as committed as ever to supporting our members. Our Members Portal will be re-launched April and will be a key platform to connect CMI members to insights, information and our webinars. Other CMI work, such as our member-led taskforces and Corporate Climate Leadership Program will also now be conducted online.
4. E-LEARNING PLATFORM
CMI is working on a more structured professional development platform, designed to equip participants with relevant technical carbon market skills and direct access to our Corporate Membership’s market knowledge and expertise. We’re excited to expand the technical capability of Australia’s workforce to tackle the growing climate crisis. More information will be provided in our April CMI Update.
Please stay safe and well and keep in contact through our new Carbon Conversations and membership benefits as a Corporate or Associate CMI Member or an individual Professional Network Member.
Carbon Market Institute