Update: Review of International Offsets
The Climate Change Authority’s latest considerations in its Review of International Offsets are now available in the slide pack below.
The review will advise on the use of international carbon offsets in the context of the Paris Agreement, and in particular their use in Australia’s Climate Active and Indo-Pacific Carbon Offsets Scheme.
The review follows agreement at the UN climate conference in Glasgow in 2021 (COP26) on the Article 6 rules for Paris Agreement carbon markets, and the increasing focus globally on implementation of emissions reduction targets.
In conducting this review, the Authority has engaged with stakeholders across governments, industry and advocacy groups while also undertaking its own research.
The Authority released a review consultation paper on 7 March, 2022 and considered the submissions received along with information provided at further consultations with stakeholders.
The Authority intends to submit its Review of International Offsets to the Minister Climate Change and Energy, Chris Bowen and publish it online by 31 July 2022. The Authority had originally indicated publication on 30 June 2022.