In November, COP29 – “the finance COP” – will deliver the new collective quantified goal on climate finance, which will replace the 2009 Copenhagen climate finance goal of USD100 billion a year channelled to developing countries by 2020. It is well recognised that private sector finance has a critical role in supporting public finance for climate change mitigation and adaptation globally. This workshop will explore initiatives including development of the Australian Sustainable Finance Taxonomy being led by ASFI in partnership with the Commonwealth Treasury, to scale up and guide investments toward supporting the global transition towards net zero.

As the renewable energy transition accelerates, greater focus will fall on industry and resource sectors emission contributions. This workshop will examine the role of the enhanced Safeguard Mechanism, its potential evolution, and the role of aligned policies as well as corporate and consumer expectations in changing investment strategies. As with the other sectors under consideration for Net Zero Plans, cross cutting issues like sustainable finance, carbon market strategies, circular economy and growing social equity, including for First Nation and regional communities, will also be discussed.

The role of carbon markets in the climate challenge has been undergoing intense scrutiny but also fundamental shifts.  We are arguably moving from the original phase based on offsetting neutrality to an integral role in the net zero transition. This new “Carbon Market 2.0” phase needs to align investment in credible on-site decarbonisation with investment in independently credited climate actions. Ultimately this needs to drive carbon removals at scale that support a net negative emissions reductions to help limit or return global warming to Paris Agreement goals.  Join leading analysts and participants in the emergence of Carbon Market 2.0.

Transport is Australia’s third highest emitting sector, contributing roughly 21% to Australia’s total emissions profile. While the Government’s electric vehicle target and new vehicle fuel efficiency standards are supporting emissions reductions in light vehicles, longer distance transport continues to pose challenges for decarbonisation. Join this panel as we discuss the challenges and opportunities for decarbonisation in long distance freight and passenger transport, including rail, air and road. As with the rest of the 6 sectors under consideration for Net Zero Plans, cross cutting issues like sustainable finance, carbon market strategies, circular economy and growing social equity, including for First Nation and regional communities, will also be discussed.

As we build a net zero economy in Australia, and globally, there is an enormous opportunity to integrate the protection and restoration of nature. Climate change and nature loss or damage are interconnected and, if addressed strategically through net zero sector planning will mitigate economic risks for Australian business and communities and catalyse an emerging source of economic advantage.  This session will explore how decarbonisation initiatives and net zero sector plans can be leveraged to simultaneously deliver benefits for both the climate and natural environment. Examine policies, frameworks and schemes that target and accelerate climate action and nature repair – and the key role of nature-based climate solution investments.

As businesses prepare for mandatory climate-related financial disclosures in Australia, international best practice guidance on net zero transition plans also continues to mature and converge. The Australian Government has committed to developing guidance for disclosing net zero transition plans. Work is also underway to develop an independently verifiable international standard on net zero, that would establish a real economy standard to complement the financial standards developed by the International Sustainability Standards Board. This panel will explore how companies can navigate the rapidly evolving ecosystem of net zero standards to demonstrate market leadership.

Climate policies, carbon markets and the New Collective Quantified Goal on Climate Finance, will be key to achieving nationally determined contributions in the critical Asia Pacific region. Carbon taxes, regulations and markets are emerging across Asia and support for market development and financing is increasingly becoming an integral aspect of bilateral and multilateral partnerships such as the Australia-Singapore Green Economy Agreement and the Indo-Pacific Economic Framework for Prosperity. This workshop will build on insights and outcomes from the recent CMI Singapore Carbon Market & Investor Forum.

As well as focusing on the new collective quantifiable goal on climate finance and the Loss and Damage Fund, Article 6 cooperation and carbon market frameworks are a key priority of the COP29 Presidency. The Presidency notes past disappointments in bolstering mitigation and adaptation ambition through the implementation of Article 6, though some progress was made in the recent Bonn intersessional sessions, and countries have been pressing ahead with MOUs, capacity building and first transfers under Article 6.2. This workshop will discuss the opportunities and challenges for COP29.

While renewable energy investment continues to drive emissions reductions in Australia’s electricity sector, substantial challenges remain in meeting the Australian Government’s 82% renewable electricity target by 2030. With gas and liquid fuels accounting for two thirds of Australia’s energy consumption, broader economy-wide initiatives will also be required. This panel will explore how the Australia’s Government’s Electricity and Energy Sector Plan should address key dimensions of Australia’s energy transition, to accelerate investment and facilitate decarbonisation in adjacent sectors both now and beyond 2030. 

Effective data collection, coordination and communication will be critical as efforts continue to build a transparent and robust Australia’s carbon crediting framework evolves. This workshop will discuss key requirements and developments in establishing a national data platform that enables effective decision making and increases the transparency amongst  carbon, water and ecological data.  It will also discuss data issues to assist investor and community confidence in corporate transition plans and issues relating to data sovereignty.

The Agriculture and Land sector has already contributed considerably to Australia’s emission reductions and has many opportunities to do more.   It is estimated that land-based sequestration will need to increase eightfold alongside industrial decarbonisation for Australia to help limit warming to 1.5C. Plans for the land and agriculture sector will need to boost climate smart agriculture while supporting efforts to reverse deforestation, repair nature and engage First Nation rights and aspirations. This workshop will consider how policy frameworks can support these goals alongside restoration of healthy, biodiverse ecosystems as well as current initiatives, such as carbon farming that are contributing to practice changes and drawdown at scale.

With Phase 2 of the European Union’s carbon border adjustment mechanism (CBAM) already being implemented, and as Australia considers its own CBAM to support the decarbonisation of domestic industry, we look at how trade mechanisms and agreements can support the net zero transition. Experts consider not only domestic applications, but also how countries across the Asia Pacific region are already accounting for projected economic constraints for heavy emitting industries.

State governments and agencies have played a historic role in carbon and energy investment, pioneering greenhouse gas, energy efficiency and other markets alongside expanding responsibilities in pollution licensing and other regulations. State aspirations have helped build national ambition but also come amongst competition for global and national investment in industries and expertise critical for the net zero transition. This workshop will examine how state initiatives can boost or hinder national policies and investments in industrial decarbonisation and carbon crediting supported climate action.