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Carbon Credit & Offsets | Sincere Authorities Advert

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All of the lowdown and evaluation on how the Australian Authorities is utilizing carbon credit and offests to undermine local weather motion.

Detailed evaluation on this Sincere Authorities Advert video by The Juice Media.

There may be additionally an in depth podcast interview with Polly Hemming from the Australia Institute on the topic to additional fill you in on how the Scott Morrison Authorities and Emissions Discount Minister Angus Taylor have corrupted an important and wanted motion to keep up fossil gas manufacturing and earnings.

 

Right here is the companion video interview by Giordano with Polly Hemming.

Professor Andrew Macintosh is an skilled on environmental markets who has additionally sat on the bushfire royal fee, chaired the Integrity Committee of the Emissions Discount Fund (ERF) for six-and-a-half years and was a member of the King Assessment of Low-cost Sources of Abatement.
 
He and his colleagues have revealed 
a series of papers outlining systemic flaws within the ERF and the way in which it points Australian carbon credit (ACCUs). They’ve labelled the ERF an “environmental and taxpayer fraud”.

Professor Macintosh mentioned the ERF is dominated by three sorts of initiatives: averted deforestation in western New South Wales (NSW); human-induced regeneration of native forests within the dry rangelands of Queensland, NSW, Western Australia, South Australia and the Northern Territory; and the combustion of methane from landfills. These initiatives account for roughly 75 per cent of ACCUs issued.

“The accessible knowledge suggests 70 to 80 per cent of the ACCUs issued to those initiatives are devoid of integrity – they don’t symbolize actual and extra abatement,” Professor Macintosh mentioned.

“Sadly, Australia’s carbon market at present suffers from a definite lack of environmental integrity.
 
“The entire main emission discount strategies have severe integrity points, both of their design or the way in which they’re being administered.

“Persons are getting ACCUs for not clearing forests that had been by no means going to be cleared; they’re getting credit for rising timber which can be already there; they’re getting credit for rising forests in locations that may by no means maintain everlasting forests; and they’re getting credit for working electrical energy mills at massive landfills that might have operated anyway.
 
“What is happening is a fraud on the surroundings, a fraud on taxpayers and a fraud on unwitting non-public consumers of ACCUs, together with non-public households who buy ACCUs to offset their private emissions.”  

The ERF is run by the Clear Vitality Regulator, which has $4.5 billion to spend on ACCUs.

“The Clear Vitality Regulator has already spent $1 billion on buying ACCUs and has contracts to buy an extra $1.6 billion,” Professor Macintosh mentioned.
 
“By issuing ACCUs for these low integrity abatement initiatives, the regulator is throwing good cash after unhealthy and undermining Australia’s capability to satisfy its long-term emission discount targets.” – ANU media launch, 24 March 2022, Australia’s carbon market a “fraud on the surroundings” https://www.anu.edu.au/news/all-news/australia%E2%80%99s-carbon-market-a-%E2%80%9Cfraud-on-the-environment%E2%80%9D

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