The Carbon Market Institute’s 9th annual two-day Australasian Emissions Reduction Summit kicks off today, opening with frank assessments of the state of global climate action, international carbon markets and investment as well as insights into just transition and Indigenous priorities. Over 1000 delegates will be attending the Summit in person or online.
Today’s program will hear from a number of international climate experts including Andy Reisinger. Vice-Chair of Intergovernmental Panel on Climate Change (IPCC) and General Secretary of the International Trade Union Confederation, Sharan Burrow, and Rachel Kyte, Co-Chair, Voluntary Carbon Markets Integrity Initiative. Papua New Guinea’s Governor of Oro Province Gary Juffa MP will also be present. Catherine McKenna, former Canadian Climate Minister and now Chair of the UN High Level Expert Group on Net-Zero commitments will deliver the annual Christiana Figueres Oration.
The program will examine how business and investors are engaging with regional and Australian opportunities and challenges including issues of integrity and transparency. Key regulators from ASIC, ACCC and the Clean Energy Regulator will speak tomorrow, as well as Professor Ian Chubb, Chair of the Independent ACCU Review panel. NSW Treasurer Hon. Matt Kean will open the Summit. Cissy Gore-Birch, CO-Chair of the Indigenous Carbon Industry Network will speak in the opening plenary.
The day’s sessions will also pre-empt tonight’s Federal Budget, which will be unpacked in detail at Wednesday’s 2022 Federal Budget Wrap session, led by ANZ Chief Economist Richard Yetsenga, and followed up by a Ross Garnaut keynote, exploring Australia’s potential as a clean energy superpower. Business leaders including BP’s Frederic Baudry, GreenCollar’s James Schultz and CORE Market’s Chris Halliwell will speak as will incoming CMI Chair Dr Kerry Schott and the Investor Group on Climate Change CEO’s Rebecca Mikula-Wright.
View the media kit (Video and transcripts and will be uploaded shortly after sessions)
“The Summit is always a key event in the business community’s calendar, however this year is more critical than ever with a backdrop of escalating climate impacts and geo-political conflicts but also a determination as the world resumes work at COP27 in a fortnight on the rules for global cooperation and carbon markets under the Paris agreement,” said John Connor, CMI CEO.
“On a domestic level, Australia is now entering potentially the most constructive climate policy development phase in over a decade. There are crucial reforms to achieve ambition and integrity in the Safeguard Mechanism and Australian carbon crediting framework, as well as significant transitions needing to be well managed in energy, transport and agriculture. Our experts will explore these pivotal moments in more detail, as well as the implications of tonight’s Federal Budget decisions,” he said.
Speaker highlights & quotes (pre-taped presentations)
Sharan Burrow, General Secretary, International Trade Union Confederation:
“Recognising the precariousness of our situation, we must be cognisant that the ability to achieve a truly just transition is increasingly more challenging and more costly with time. We need a society-wide transformation to an economic framework that has people and the planet at the heart of it.”
“With this, we can create a resilient economy that provides the quality jobs and social protections essential to a strongly functioning society. This is not an insignificant action, but we cannot afford to delay it any longer.”
“The new Australian Federal Government has the tools to shape this transition into the success that it needs to be for our planet’s future, and I urge the Government, and businesses alike, to look towards countries such as Scotland, Canada, Sweden and Germany. These are wealthy countries, in positions not dissimilar to Australia, and which are having really constructive dialogue around the exit of coal, the production of clean steel and other manufacturing, as well as putting the systems in place to facilitate this.”
“Following these countries’ example, the Australian Government should consider a Just Transition Authority, to ensure that the rights of the workers are protected throughout the transition – and one that is well entrenched in parliamentary, legislative, corporate and community life. As part of this, investments need to be made into the frameworks that will reskill these workers for our future success, ensuring that they are not left behind.”
Rachel Kyte, Co-Chair, Voluntary Carbon Markets Integrity Initiative:
“We’ve shown ourselves to be pretty awful at transferring public money in any way, shape or form at scale to developing countries. We’ve failed to be able to leverage private finance consistently into emerging markets. We’ve failed to make the commitments on climate finance.”
“However, despite some headwinds as a result of the conflict in Ukraine, geopolitical tensions between China and the US, and some backlash against corporate ESG principles as woke capitalism, we do in fact have increasing funds under management that have commitments towards net zero emissions. “
“Voluntary carbon markets must be purposeful. They must work to speed up the transition. To reduce and remove emissions. They must also produce a revenue stream to the places that need it.”
“We see a lot of pressure and a lot of commentary on what the private sector needs to do, and how the private sector needs to lead, and how the private sector needs to take more risk. However, governments must be very clear to the private sector how they want it to behave and build the frameworks that will allow this to happen. The US Inflation Reduction Act is one example of this, which is already stimulating greater flows of private finance towards abatement, adaptation and mitigation activities.”
About the Carbon Market Institute
The Carbon Market Institute (CMI) is an independent member-based organisation that is an industry association championing best practice for business leading the transition to net zero emissions and beyond. Its nearly 150 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. The positions put forward constitute CMI’s independent view and do not purport to represent any CMI individual, member company, or industry sector. CMI’s latest Advocacy Policy Positions Statement can be viewed here.
About the AER Summit
The Carbon Market Institute’s 9th Australasian Emissions Reduction Summit is Australia’s premier business and climate action event for 2022. For nearly a decade, the Summit has been an important forum for discussion on climate and regional realities, as well as the investment required for a ‘just’ and inclusive transition to a net zero economy. It has also been a key platform for CMI’s mission to help business manage risks and capitalise on opportunities in the transition.
This year’s event will focus on urgency, integrity and ambition and feature more than 100 national and international speakers. It comes at another crucial juncture as the new Labor Government oversees significant climate policy reform, hands down its first federal budget and as carbon market growth and corporate decarbonisation accelerates in the US, Asia and Europe.
For further information, contact Thomas Hann on 0408880536 or thomas.hann@carbonmarketinstitute.org
