Australian Financial Review

“It’s a dirty little secret that we have a carbon market and carbon pricing here in Australia,” says John Connor, chief executive of the Australian Carbon Market Institute, which represents companies moving towards net zero. Its membership includes oil and gas giants such as BP and Origin Energy, Australia’s biggest airlines, banks and miners like BHP.

“We have effectively had a monopsony for the last few years, where 90 per cent of the purchase comes through the government, which runs its auction with a requirement for the lowest-cost abatement and a judgment on how much they purchase,” Connor says.

Share this page: