The following is attributable to CMI CEO John Connor:
The Carbon Market Institute (CMI) takes claims against integrity in Australia’s carbon market seriously and will consider new analysis relating to Human Induced Regeneration (HIR) and Landfill Gas carbon abatement methods released this morning.
These methods, like the other 37 methods, have been created under processes with numerous checks and balances but should rightly be kept under constant review.
Methods are subject to regular reviews so they can be improved based on lessons from past implementation and emerging technology and science. CMI supports continuous improvement in method development and implementation.
CMI will examine this new analysis but notes there is substantial existing evidence from independent analysis and from regular on-ground audits that HIR is providing additional carbon abatement.
CMI’s policy positions include the need to review and build on ACCU integrity mechanisms and checks and balances which include: legislated Offset Integrity Principles; ASIC financial services licences for carbon service providers; independent consideration of ACCU methodologies and extensions by the Emission Reduction Assurance Committee; and Ministerial approval of methodologies as a disallowable parliamentary instrument.
CMI’s Integrity Taskforce is reviewing ways to enhance existing checks and balances in relation to environmental and behavioural integrity as well as governance and international linkages.
CMI will respond further after it is had a chance to review this analysis, consider the response of the Clean Energy Regulator and consult more broadly.
The Carbon Market Institute is the independent industry association for business leading the transition to net zero emissions. Its over 130 members include primary producers, carbon project developers, Indigenous corporations, legal and advisory services, insurers, banks and emission intensive industries developing decarbonisation and offset strategies. CMI’s policy positions are approved by its Board and do not necessarily represent the views of all CMI members.
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