Climate change minister to announce Prof Ian Chubb will lead six-month probe of scheme labelled ‘largely a sham’ by one expert
as virtually all methods used to create credits had serious integrity issues in either their design or how they were administered.
“The government wants to make sure it remains a strong and credible scheme supported by participants, purchasers and the broader community. The review will achieve that goal.” The paper said businesses that created credits – mainly by regrowing forests, protecting existing forests or cutting pollution from landfill sites – were largely acting within the rules, but they were being “paid for services that had not been provided”, and the Clean Energy Regulator and the Emissions Reduction Assurance Committee had tried to “sweep the problems under the carpet”.
Each carbon credit represents one tonne of carbon dioxide that has either been stopped from going in the atmosphere, or sucked out of it. “In our view, a process that systematically pays people to provide a service that is not provided is fraudulent,” the paper said. “We do not suggest proponents have acted unlawfully. The problem is with the system – administered by the Clean Energy Regulator and the Emissions Reduction Assurance Committee – not the individual beneficiaries of it.”
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