Carbon Credits – dodgy offsets or the real deal?
Location: Online via Zoom
Is the scheme being scammed by some? Prof Andrew Macintosh says some carbon credits lack legitimacy What needs to change?
What are carbon credits? Who accrues them? Who needs them? Where can you buy them? Is the carbon credits market working here in Australia? What needs to change? What about overseas carbon credits? Find answers to these questions and more at our July 27 meeting on Zoom.
Serious questions are being raised about the integrity of the Federal Government’s carbon credit scheme. Recently, Professor Andrew Macintosh – the former head of the government’s Emissions Reduction Assurance Committee – raised questions about the scheme, suggesting some carbon credits lack legitimacy.
Professor Macintosh says some credits being approved (Australian Carbon Credit Units or ACCUs) are either not real or were ‘going to happen anyway’. The former Minister for Energy and Emissions Reduction, Angus Taylor, defended the scheme at every turn, but the schemes integrity is crucial and more scrutiny seems warranted.
Why is the scheme important? Well, big emitters like gas multinationals buy these ACCUs to “offset” their own carbon pollution, when they think this is the cheapest option, rather than actually taking action to decrease their carbon emissions. Integrity of the scheme is therefore vital. A great discussion on the current issues with the scheme can be found on this recording of the ABC’s ‘The Drum’ program, 24th March 2022. The scheme is discussed from 38 minute mark onwards.
We are bringing together three great speakers for this event. Professor Andrew McIntosh will discuss what is going on with ACCUs in general, and he will give a perspective on how some carbon credits might lack legitimacy, and he’ll discuss how we should seek to improve the integrity of the scheme. Ric Brazzale from Green Energy Trading will speak about how carbon credits and energy efficiency certificates are created in his business. We are also joined by Tim Baxter, Senior Researcher for Climate Solutions at the Climate Council. This promises to be a fascinating & topical event: join us online at 7:30PM, Wednesday 27 July.