With the election underway climate or carbon may not be in the issue spotlight but it is alive in the shadows.
This is highlighted in CMI Essential poll research released today that shows support remains strong for Australian climate leadership and for business decarbonisation efforts, despite Trumpian headwinds and cost of living realities. Indeed, it found almost two thirds understood the link between climate change and cost of living and that more Australians than not now have confidence in carbon offsetting.
From a business and investor perspective, policy priorities can be summed up in one word “continuity”. I’ve been struck by the cross section of industry groups saying how important it is for member investment decisions that the Safeguard Mechanism basics aren’t prematurely disrupted, at least before the 26/27 review. The Senate made sure the enhanced Safeguard Mechanism legislation and regulations would be very difficult to weaken. As yet there are no public plans to do that from any major party.
As noted last month CMI has developed its broader election priorities on how to deepen decarbonisation investment signals, policies and strategies and we’ve been sharing them broadly with all political participants and in public forums.
Last night I was delighted to help launch the second CMI/Westpac Carbon Market Report Evolving Markets, Emerging Solutions. Through 2024 many of the necessary pieces were assembled that can assist domestic and global carbon markets to help rapid scale up of investments in decarbonisation and climate solutions. These may not be widely appreciated but it’s critical to double down on these opportunities. The report offers diverse perspectives on these opportunities, and I encourage you to check it out!
Elsewhere CMI continues its work on credible climate transition pathways and plans for our 9th Carbon Farming Industry Forum in Lennox Head 6-8 May – by which time the shape of our next government should be clearer.
More details below.
DEECCW IFLM method development update
On Friday a discussion paper marking progress on consideration of the IFLM method was released. CMI and CMI’s IFLM Taskforce broadly welcomed its release. However, concerns about the slippage of the timeline remain. In a policy brief, the Taskforce had previously identified five key policy requirements for the IFLM method for it to be effective and nationally applicable. These include:
- Modular framework that enables multiple carbon management activities.
- Comprehensive set of eligible carbon management practice changes.
- Inclusion of a Land Management Strategy as a central requirement.
- Weight of evidence approach, recognising that land management projects require multiple lines of evidence.
- Technology-neutral measurement and modelling approaches.
More information from the Taskforce and a link to the update is available here.
Carbon Conversations and election polling
Last week and timed to perfection with the election announcement, we held a carbon conversation webinar on Climate Election and Budget Analysis. I discussed election priorities, budget analysis and the lack of climate focus and policy support by both parties. The panel included Alison Reeve (Grattan Institute), Warrick Jordan (Australian Climate and Biodiversity Foundation) and Raphael Wood (Silva Capital).
In support of our policy positions, CMI commissioned consumer polling by Essential Research which shows the public understands the link between climate change and the cost of living even if the politicians are reluctant to comm it to long-term measures. 62% of participants agreed that impacts of climate change (such as more frequent and severe bushfires and flooding) worsen the cost of living through insurance cost increases and grocery prices, with just 13% disagreeing. Our release on that is available here.
To access the recording of the latest Carbon Conversation, please follow this link.
To access CMI’s budget submission and election priorities documents click on the links.
Carbon Market Report 2025
As noted above, CMI and Westpac launched the second annual Carbon Market Report yesterday. The report ‘Evolving markets, emerging solutions’ forms part of the CMI’s ongoing research initiative. It is the second in the annual series that examines how Australia’s carbon market is evolving, with the latest insights from a range of experts, including decarbonisation researchers, nature specialists, corporate lawyers, carbon market participants, financial market specialists, technology and decarbonisation advisors.
Please join us for our next Carbon Conversation on Friday 11 April to discuss the report in more detail with some of the chapter authors:
- Ilona Millar, Partner, Gilbert + Tobin & Board Director, CMI
- Marnie Telfer, Director – Nature (Australia), Anthesis
- Bret Harper, Head of Research, RepuTex Energy
- Danielle de la Cour, Regional Senior Manager, Climate Projects Australia, South Pole
- Kurt Winter, Director Corporate Transition, CMI (Moderator)
New Transition Planning 3-part webinar series
The development and communication of robust private sector transition plans is an important area of corporate climate practice. CMI’s new Net Zero transition planning education program introduces key concepts for organisations seeking to understand the role of net zero transition planning in private sector climate leadership.
CMI’s Net Zero Transition Planning Three-Part Program
- Transition planning in context, Wednesday 9 April 2025
- Starting your net zero journey, Friday 16 May 2025
- Engaging with carbon markets in net zero transition, Friday 23 May 2025
The webinar series is enabling CMI members and sponsors address the requirements outlined in the CMI Member and Sponsorship Policy, which will apply from 1 July 2025.
Register for the series here (free for CMI members).
Carbon Farming Industry Forum 2025
CMI’s upcoming Carbon Farming Industry Forum is shaping up to deliver another bumper program in Lennox Head this May. The event starts with a workshop on Carbon Farming Fundamentals delivered by NSW GPIRD and is designed for landholders. This is followed by site visits to see carbon projects up close. The two-day conference program start on 7 May. There are too many individual sessions to highlight, but here are just a few of the key plenary sessions:
- Optimising Policy Frameworks for Carbon and Nature Markets (with the heads of ERAC and CER)
- Indigenous Carbon & Biodiversity – Opportunities & ‘Right Way, Wrong Way’ Engagement (learn from indigenous project participants and others)
- Integrating Carbon & Nature (includes a keynote from Matt Kean)
- Innovation and Integrity in Method Development (join the discussion on methods in light of the release of the IFLM development update – discussed above)
- Connecting Country, Community & Climate
For more information on program, speakers and to register, please follow this link.
I would love to welcome you in Northern NSW!
