2023 Impact Report & 2024 priorities

Dear Members,

The new year is well underway, and I hope you are all ready for another big year as we seek to accelerate climate policy and investment.  

In case you missed it in our January Update earlier this week, we’ve published our 2023 Impact Report highlighting the contributions made with your support in 2023. Amongst other priorities, this year we’ll be focused on broadening and deepening climate policy, including the Safeguard Mechanism, to support an NDC of at least 70% emission reductions by 2035. We’ll also focus on strengthening investor and community confidence in carbon crediting, including through a newly formed communications-focused member group, which will scale up the volume and cadence of activity on key integrity issues.  

Our recent pre-budget submission and updated Policy Positions also serve as key background documents to our work in 2024. 

1.ACCU Reforms 

We are aware that timelines for legislative reforms to implement the ACCU Review recommendations may be slipping. We are following this up with the Government and will keep you informed as we have further conversations. Thanks to those of you actively involved in the IFLM Taskforce, and FYI for others a new timeline for that method now has August for Ministerial consideration (soon to be updated on DCCEEW IFLM Website). We are also following Landfill and Savanna method reviews and updates and of course the new method development process. 

2.CMI Research 

We were pleasingly overwhelmed with interest in being part of the inaugural CMI-Westpac Carbon Market Report and apologies to those who missed out this time. Almost a third of the membership, 50 members, expressed interest! Look out for an early April launch of that report. We have other research projects in mind, including the forthcoming annual Carbon Farming Industry Scorecard and Annual Business Survey, so watch this space.  

3.CMI Carbon Conversations 

We’ll be continuing the tradition of free public carbon conversations and starting the year on 29 February 2024 at 12pm with a focus on plans for Australia’s new carbon registry and proposed exchange. You can register now to hear from CER, ASX and Trovio on those plans here. 

Our example carbon farming contract clauses are now publicly available, and we’ll have a discussion on those and other market readiness initiatives in the following carbon conversation on 22 March. 

4.Working Groups 

In addition to the Policy Working Group, which convenes as needed in response to consultation requirements (contact: gabriella.warden@carbonmarketinstitute.org), we are establishing priorities and dates for new and existing Working Groups including: 

  • (New) Investor Working Group for members who are market investors, brokers or financial institutions to focus expertise on carbon market investment and related market evolutions and challenges.  
  • Carbon Project Development Working Group for members focused on project development and credit supply, including method development priorities and relevant ACCU Review reforms.  
  • International Working Group for those with projects or interests in UNFCCC or voluntary carbon markets in the region. See our latest International Update here.    
  • (New) Legal Working Group for legal firms and representatives.  
  • Corporate Climate Leadership Working Group for members representing emission intensive industries, their financiers and insurers. This group will aim drive corporate best practice in market-based solutions and decarbonisation, as well as share member experiences and achievements.   

Please contact kristin.yu@carbonmarketinstitute.org for expressions of interest. 

 

5.2024 Event Schedule and sponsorship prospectus 

We’ve locked in our dates for key events in 2024 with sponsorship prospectus’ available via the links below: 

  1. 8th Carbon Farming Industry Forum, Cairns, 21-22 May 2024 
  2. 2nd Singapore Carbon Market and Investor Forum, 15-16 August 2024
  3. 11th Australasian Emission Reduction Summit: Accelerating Policy and Investment, Melbourne, 29-30 October 2024 

 

6.Member and Sponsorship Policy Update 

Many thanks for all your feedback. Board met yesterday to finalise the new Member and Sponsorship Policy, which broadly aligns with the draft policy with key refinements based on member feedback and engagement. Thank you for your patience as we work towards a separate update on that shortly. 

Regards 

John Connor, CEO

Carbon Market Institute