CCA report on the potential for Australia to use international carbon units to help meet targets
Today I was lucky enough to hear a presentation from the Climate Change Authority which made reference to a research paper released last month, entitled Using international units to help meet Australia’s emission reduction targets. The report can be downloaded here.
According to this report, there is a plentiful supply of low cost and environmentally credible carbon units available in international markets at the moment, with a marginal cost of around $1 per tonne.
What I found particularly interesting is that through the use of such international units, Australia could increase its 2020 emission reduction target from 5% below, to 19% below 2000 levels for a total incremental cost of around only $500 million.
What role do you think international units should play in Australia’s carbon management policies? Please leave your comments below.
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