It is shameful that Australia, in company with Saudi Arabia, has again frustrated UN climate negotiations by insisting on using its 20 year old ‘carryover‘ credits from the Kyoto Protocol – an agreement in Australia’s case for awarding credits for land that was not cleared.
Australia was accused by other parties of being willing to destroy the whole system, taking a totally unacceptable position and cheating.
These credits, if agreed at the next climate meeting, would effectively reduce our 2030 targets by half.
Worse still, Australia has quashed efforts at the meeting to agree on the rules for international coordination of carbon markets. These markets already exist in the EU and would, if adopted internationally, speed up the shift from fossil fuels to renewables.