[CMI MEDIA STATEMENT] CMI welcomes Government support for Australia’s carbon market

bradkerin Media Release

CMI Media Statement

The Carbon Market Institute (CMI) greeted steps by the Clean Energy Regulator, at the request of Minister Taylor, to support the Australian carbon market as welcome.

“Confirmation of a September auction and the move by the Clean Energy Regulator to potentially purchase carbon credits between auctions are welcome steps,” said John Connor CEO of the Carbon Market Institute.

“We will work with the Regulator and the Government to enable the purchase of credits before the September auction to offset impacts from the COVID-19 crisis, with reduced demand from aviation, event and other sectors.”

“Australia’s carbon market fundamentals remain strong as the Minister says, with continued long-term activity and planning from the corporate sector.

“However, recent spot purchase prices have unusually dropped below the recent auction price on soft short-term voluntary demand and lower than expected safeguard mechanism compliance requirements.”

“Australia’s carbon market has invested millions of dollars, particularly into regional Australia. Support and strengthening of the market should be a key
part of Australia’s response to COVID, bushfire and climate crises.”

Related press release from the Hon Angus Taylor MP.
Related news item from the Clean Energy Regulator. 

For further information contact Clare Price, Communications Manager info@carbonmarketinstitute.org