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C'mon Aussie C'mon

Its time for Australia to rise above domestic politics and make a genuine contribution to addressing the global challenge of climate change. 

After an engaging time on the ground in the heart of coal country Poland at COP24, it was clear to me that with Australia’s depth of capability across policy, technology, markets and finance there are many dimensions where public and private sector actors can play a more proactive role in helping Australia and the world meet Paris Agreement goals.

After marathon negotiations in Poland, countries reached a consensus to produce a 156 page rule book for implementing the Paris Agreement. There are arguments about whether it is ambitious enough or not. There was also great disappointment that the rules on how carbon markets will operate were not agreed, pushing that to next year. However it is important to recognise that countries can still agree linking arrangements, and trade in and out of Australia can still happen through policy decision and bilateral relations. The Paris Agreement Article 6 rules will then provide the guidance and accounting rules that could be later applied.

There was a strong contingent of Australians in Poland, including many expats who are driving climate initiatives from other locales. The private sector engagement is encouraging and it reaffirms the post Paris 2015 bounce that business and finance are attuned to the risks and opportunities that global developments in addressing climate change present.

However a big takeaway for me is that Australia’s ambition and climate action will need to increase. To see the strong, constructive bipartisan position that our Kiwi friends from across the Tasman have taken at home and promoted here at COP24 has left many Australians envious of the leadership they are showing and justifiably questioning why Australia cannot emulate the bipartisan, responsible approach to our collective global challenge.  

I think we need a stronger sense of purpose.

As a nation we can be a force for good. The world could really benefit from Australian business and government constructively engaging in international climate action; to build capacity, to deploy capital, to design and link markets.
The Australian government and private sector must work in collaboration if we are to optimise our position as international markets evolve.

COP24 concluded with a platform that necessitates a renewed, mature conversation about how we can align diplomacy, aid and trade to play a responsible role in our region to reduce emissions, build new bilateral relationships as well as create economic opportunities for Australian business.  

Ideally, 2019 can be a turning point where we emerge from the pack and lead.  C’mon!


Peter Castellas
CEO, Carbon Market Institute
Season's Greetings from CMI

 We greatly appreciate your continued support and look forward to engaging with you in 2019. 
Climate Policy
CMI 2018 Climate and Energy Policy Survey released
Survey results show that Australian business is calling for a clear signal from Canberra on how climate and energy policy will evolve as the consensus is that the current policy suite is insufficient to meet our Paris targets.
Australia's emissions rising
Quarterly GHG update shows a 1.3% increase on the past quarter
The Paris Agreement
Carbon Markets
NZ Govt. has announced it will put a cap on units, bring permanent forestry into their ETS
Carbon pricing a necessary step as part of Singapore's climate strategy: Masegos
NT Govt. announces strategy to grow carbon farming industry - carbon burning recognised
CORSIA: discussions on allowing CDM credits and who has eligibility responsibility.
CMI Members News
Allens | Unpacks solar farm draft guidelines
Allens provides an overview of the Victorian Draft Guidelines for large-scale solar farms, open for consultation.
CommBank | Commitment to 100 per cent renewables
Commonwealth Bank signs up to the global RE100 program, the first Australian company to pledge 100% renewables by 2030.
AGL | Solar power trading market
AGL is the latest Australian company to develop its own solar trading platform for households to sell excess generation
Woodside Petroleum | Call for carbon price
CEO calls for resources companies to act on climate, including a carbon price
Westpac | Launch of Green Tailored Deposits
Westpac has launched the world’s first Green Tailored Deposit to be certified by the internationally recognised Climate Bonds Initiative (CBI).
Alterra | Demerger of carbon forestry business
Alterra to issue 85% of shares in carbon credit generating forestry business to shareholders 
Norton Rose | Guide to PPAs
Norton Rose Fulbright's energy team has co-authored a guide to corporate PPAs with Energetics and WWF
CCES | Article on saving humanity
Anil Bhatta from Carbon & Clean Energy Solutions starts the conversation on saving humanity, not just the planet
CMI Australian Carbon Industry Code of Conduct 
All applications to become a foundation signatory have now been received. CMI will be announcing the final 11 foundation signatories shortly.
Learn more about the Australian Carbon Industry Code of Conduct >
Interesting Reads
Reports & Media

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