Economist Urges Labor to Establish Nature Repair Market

Already a subscriber? Economist Ken Henry is pressing Labor to deploy “billions” of dollars to establish a nature repair market linked to land-based carbon sequestration credits , helping meetDr Henry, who chairs the Australian Climate and Biodiversity Foundation, said the government should establish a public fund to spur corporate involvement in “nature-positive” land protection and repair.

Australia is expected to become one of the largest producers of carbon credits in the world, with ACCU demand peaking at 31 million units in 2031, according to Carbon Market Institute and Westpac analysis published on Wednesday, before subsiding to 24 million by 2035. Demand for ACCUs could rise further, according to S&P Global, following the recent approval of the Santos Barossa project, which will be subject to safeguard rules from day one.

, which Mr Connor said highlights the degree to which Australia and the world is “entering a critical stage” in the challenge of reaching net-zero by 2050. He called for market infrastructure to establish “high-integrity” nature repair trading to complement the existing carbon market, as well as a public fund to kick-start nature markets.

Economist Labor Nature Repair Market Carbon Sequestration Credits Land Protection Australian Carbon Credit Units (Accus)

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.

Economist rebuke for Tasmanian Liberals, Labor over failure to address dire economic forecast during election campaignThe state of Tasmania's finances is not looking good — but, as a leading independent economic commentator says, voters in the upcoming state election wouldn't know any of this from the way politicians are 'promising to throw borrowed money around'.
Source: abcnews - 🏆 5. / 83 Read more »

Vic tourism body urges Labor to drop Airbnb taxVictoria’s peak tourism body has urged the Allan government to abandon its tax on short-stay accommodation, warning it will harm regional tourism while failing to increase the supply of rental housing.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Frydenberg urges Labor to negotiate with Zuckerberg over media dealThe former federal treasurer, now the Goldman Sachs Australia chairman, said brokering a deal with Meta and Google involved one-on-one conversations with the companies’ chiefs.
Source: theage - 🏆 8. / 77 Read more »

Economist survey: China to miss lofty economic growth target without stimulus injectionThe Australian Financial Review’s survey of economists suggests growth as low as 4.2 per cent. But a reliance on iron ore will limit its effect on Australia
Source: FinancialReview - 🏆 2. / 90 Read more »

US Consulate in North Sydney vandalised with 'Free Gaza' graffitiPainted message to White House urges more pressure on Israel over Gaza.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

BHP chief economist Huw McKay criticises Chinese President Xi Jinping, predicts China’s declineChief economist Huw McKay says Xi Jinping’s ideological grip over state-owned enterprises is hurting the Asian superpower.
Source: FinancialReview - 🏆 2. / 90 Read more »