Dear Editor
Your recent series on carbon farming did make some attempt to highlight its economic and environment benefits, yet they presented a distorted, inflammatory and at times incorrect story.
The online version of Sunday’s article has already been amended to change the comment of a researcher from saying the industry is “totally unregulated” to there are “regulatory gaps”. Further corrections have been requested including that, contrary to the quoted claims, highlighted carbon projects have been accurately credited based on verified, independently audited results and have successfully met their original financial forecasts. CMI understands no effort was made to verify these claims.
Important improvements have been made to Australia’s carbon credit scheme that reward carbon farming efforts to avoid emissions or store carbon in vegetation and soils. These include additional checks before credits are issued. This has caused delays and concerns, but it is important to the scheme’s integrity.
Farmers are astute businesspeople, familiar with variable commodity yields and prices. Many seek to integrate this new opportunity into their operations. Poor, misleading or deceptive conduct should not be tolerated. CMI supports the need for independent legal and financial advice and there are remedies through our voluntary Code of Conduct as well as through the Clean Energy Regulator and Australian Securities and Investment Commission which regulate the sector.
We look forward to more balanced reporting on this industry in future.
John Connor, CEO
Carbon Market Institute
