The forward price of Australian carbon credits has hit a record high as companies lock in supply of the offset agreements several years in advance to prepare for the prospect of a Labor government mandating emission reductions.by 2050, allowing Australian corporates to determine their own timetables and the instruments they use for emission reductions.
“There has been an uptick in demand from companies to build their pipeline of ACCUs in the advance of an election,” said Hugh Grossman, executive director, Energy and Carbon Markets, at RepuTex Advisory.“If there is a change of government, there could be a tightening of the market, and they are aware of that and the majors are beginning to get out ahead of that.”
The price of ACCUs – which offset a corporate’s emissions – rose 180 per cent last year, such was the demand, and analysts see ongoing support for prices.Labor proposes to gradually ratchet down the “baselines” – effectively carbon caps – under the Safeguard Mechanism. Its 45 per cent economy-wide target that will be the starting point and concessions to so-called energy intensive, trade exposed industries will be negotiated sector by sector, in some cases plant by plant.
Federal Energy Minister Angus Taylor has criticised the policy, which he has described as a “stealth” carbon tax.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$250m Truth and Justice Commission pledge by GreensGreens First Nations spokeswoman Lidia Thorpe, a DjabWurrung, Gunnai and Gunditjmara woman, said the party's proposed Truth and Justice Commission would investigate historical and contemporary examples of human rights abuses and wrongdoing | CameronGooley CameronGooley Lost me at Greens Worse at Lidia CameronGooley If the toxic Thorpe is involved it will fail. CameronGooley But not the systematic sexual and physical abuse and slavery of Indigenous women in pre Colonial times I'm guessing.
Source: smh - 🏆 6. / 80 Read more »
Parts of SA under water as record rainfall batters stateLarge parts of South Australia are tonight underwater as record rainfall batters the state. 9News
Source: 9NewsSyd - 🏆 23. / 51 Read more »
Parts of SA under water as record rainfall batters stateLarge parts of South Australia are tonight underwater as record rainfall batters the state. 9News It's happened before, my nan was born there 101 yrs ago and she always told stories about the droughts and floods and how bad they were Just think of all the water that would be caught in dams if more were built across Australia. That doesn't fit the climate change thing ay Floods suck for sure, but they're better than bush fires.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Businesses hit back at Joyce’s RAT ‘hoarding’ claimsCorporate Australia has rejected the idea that businesses are buying up more rapid tests than needed, as suppliers say shortages are to be expected. Barnaby is just jealous that it wasn't him that thought of ordering tests so they were available now. Liberal’s are guilty of criminal neglect LNPDisgrace LNPfail We received an email today from our CEO saying our organisation had secured a large supply of RATs for our few hundred employees. Maybe Corporate Australia is bullshitting as usual. If you test positive and can work from home you can, if operational, you have to use sickleave.
Source: smh - 🏆 6. / 80 Read more »
Julian Assange opens door to appeal in small but key win in High CourtJulian Assange asked a British court for an appeal after the High Court ruled his extradition to the US to face spying charges could go ahead. auspol Assange Shame on UK gov to allow our Australian award winning citizen to be kept in UK jail for more than 1000 days w/o any charges just for hom showing US military war crimes. Shame on you UK government and shame on Australian government for failing to protect our citizens! Will the judges for the new hearing be as biased as those before, making it impossible for Julian Assange to get a fair go. This is a horrendous and clearly absurd case of political persecution, bluntly and clinically rubbed on our very faces. Julian faces the greatest villain of all times: US military industrial complex and its lapdog propaganda media machine. Free Julian Assange now. FreeAssange
Source: theage - 🏆 8. / 77 Read more »
Olympic 'curse' strikes again as cost of Beijing Games growChina is hoping for a financial boost from the Games domestically that will last long beyond the event. The government says that includes a goal to introduce 300 million Chinese residents to winter sports to build a profitable future industry.
Source: SBSNews - 🏆 3. / 89 Read more »