Climate change minister Chris Bowen has accepted the resignation of three members of the Emissions Reduction Assurance Committee
Carbon credits are used by the government and polluting companies as an alternative to cutting carbon dioxide emissions.
Each carbon credit represents one tonne of carbon dioxide that has either been stopped from going in the atmosphere, or sucked out of it. Credits are bought by the government through the $4.5bn taxpayer-funded emissions reduction scheme or by polluters on the private market. Fisher, a former head of the Australian Bureau of Agriculture and Resource Economics,modelling before the 2019 election that suggested Labor’s climate policies would reduce gross national product over the next decade by hundreds of billions of dollars, lead to lower real wages and employment and substantially increase the cost of electricity.
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