Qantas is set to fly below the tougher emission caps proposed by the Albanese government, meaning the airline won’t need to buy extra carbon offsets, easing pressure on the carbon permit market.
He cited a fleet of lower emissions jets on order, existing long-term contracts to buy carbon credits, and an eventual move to “sustainable jet fuel” which still burns the same emissions, but producing it is less carbon intensive as it is derived from plant oils and waste, not fossil fuels. AiGroup adviser Tennant Reed says Qantas and Virgin are not classified as “trade exposed” under the mechanism, so neither outfit will qualify for protections, meaning baseline rates will decline by 4.9 per cent per year.“Just say we do a rough calculation by taking the current baseline, and reduce it by just under 5 per cent per year, Qantas will still be below that,” he said.
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