Energy and Climate Change Minister Chris Bowen should also ensure his safeguard mechanism imposes a binding cap on industrial emitters.
A member of a UN expert group looking into the threat of corporate carbon “greenwashing” is urging Energy and Climate Change Minister Chris Bowen to ensure hisForcing Australia’s 200 or so largest greenhouse gas producing facilities to work within a falling baseline would show companies “in a harder way than we see at present” where they can make investments to cut emissions, said Bill Hare, chief executive at Climate Analytics and a member of the UN’s High Level Expert Group on the Net-Zero...
“So that is really the transparent motivation that I think everyone understands about the system to date.” “Unless they’re fixed, they’re going to be an ongoing problem for the legitimacy of climate action in Australia, particularly if they’re used at scale.”Speaking ahead of a round of consultation in Australia on Thursday for the expert group - which was announced in March and is due to report to UN Secretary General on measures to ensure the credibility of global corporate net zero promises ahead of this year’s climate summit in Egypt - Mr Hare said carbon offsets should be a last-case option.
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