On the eve of the federal election this Friday, the Carbon Market Institute (CMI) will bring together panellists from the Grattan Institute, the Australian Industry Group and Reputex to share their views on the climate policies necessary to achieve urgent emissions reduction and investment this decade, as well as identify the strengths, weaknesses and gaps in policy priorities as we head to the polls.

The discussion will also consider some potential surprises for an incoming government, including energy price trends, growing international pressure to increase Australia’s Paris targets, further uncertainty in Ukraine, and the cost of dealing with increasingly frequent impacts of climate change.

The Grattan Institute’s Alison Reeve will expand on some of the recommendations in its 2022 Orange Book, Australian Industry Group’s Tennant Reid will touch on key policy priorities from a business perspective and Bret Harper at Reputex will provide the latest on the price of Australian Carbon Credit Units (ACCUs) and the post-election outlook for the Australian carbon market.

Our pre-election Carbon Conversation will take place on Friday 20th May, 12pm – 1pm AEST on Zoom. Register here.

CMI CEO John Connor will be moderating the discussion:

“After more than a decade of political debate and now a growing acceptance of the realities of our climate and biodiversity crises in Australia, this election shapes as a critical juncture in the fight to address these challenges, and the need to act urgently on emissions this decade” he said.

“The potential outcomes present a kaleidoscope of scenarios for Australia’s climate policy, and Fridays panellists will unpack what these options may look like, as well as their priorities for an incoming government.”

CMI plans to release a more in-depth policy paper in the coming week, expanding on some of the priorities in its current positions paper. Alongside the ongoing need to improve integrity, governance and assurance in Australia’s carbon market, CMI’s key policy priorities include:

  • Adopt policies aligned with Australia’s fair share of effort to pursue limiting warming to 1.5ºC.
  • Strengthen our 2030 Nationally Determined Contribution (NDC) goal to at least 50% reductions from 2005 levels.
  • Evolve the Safeguard Mechanism and transition to a declining baseline and credit scheme that is at least aligned with Australia’s NDC, and with appropriate treatment for Emissions-Intensive Trade-Exposed (EITE) sectors.
  • Empower the Climate Change Authority to review, regularly and publicly, 5 yearly NDC and net-zero transition progress.
  • Establish a regionally focused Just Transition agency or framework with sufficient funding to support people, communities, business and Indigenous stakeholders to ensure a sustainable and just economic transition.

About the Carbon Market Institute

The Carbon Market Institute is the independent industry association and centre of excellence for business leading the transition to net zero emissions. Its over 130 members include primary producers, carbon project developers, Indigenous corporations, legal, technology and advisory services, insurers, banks, investors, corporate entities and emission intensive industries developing decarbonisation and offset strategies.

If you have questions or require further information, please contact Thomas Hann on 0408 880 536 or via email: thomas.hann@carbonmarketinstitute.org

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