CMI policy positions, including its Advocacy Policy Positions Statement, are determined by the Board after engagement with members but do not necessarily represent the views of all members. CMI values its independence but positions are based on CMI’s vision, mission and constitutional objectives as well as the Board’s assessment of the market’s best interests.
The Carbon Market Institute (CMI) today requested that the initial exit window for fixed carbon abatement contracts be postponed until 1 July 2022 to enable proper consultations with landholders and affected stakeholders as well as the completion of relevant guidelines still under development.
“CMI has written to the Minister for Energy and Emissions Reduction highlighting operational issues with the proposal and requesting the postponement till 1 July 2022 for the ensuing six month exit window,” said CMI CEO John Connor.
“CMI’s members have highlighted concerns about carbon project developers’ ability to appropriately consult with landholders under Australian Financial Service Licence and Carbon Industry Code of Conduct requirements.
“Consultation is just beginning on benefit sharing guidelines that the Clean Energy Regulator will be applying to exit arrangements which may mean a very limited time to engage appropriately with landholders and stakeholders including native title interests and banks where relevant.
CMI remains concerned about the process and market impacts of the initial announcement as stated in its release of 4 March 2022.
However, the intent of the changes and of underlying risks has now been made clear to, and absorbed by, the broader carbon market and we do not believe that, if it is to proceed, a short delay in implementing the changes will have any further market implications, concluded Connor.
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.
For further information please contact John Connor on 0413 968 475.
