Emissions Reduction Fund

When you think of devastating deforestation and extinction you usually think of the Amazon, Borneo and the Congo.

But eastern Australia ranks alongside these in the top 10 of the world’s major deforestation fronts — the only one in a developed nation. Most of the clearing is happening in Queensland and it is accelerating.

The federal government announced on April 13 the Emissions Reduction Fund had spent another $133 million on carbon emissions abatement.

This included about $100 million on planting trees to save the equivalent of 8.5 million tonnes of carbon dioxide emissions.

At the same time the states permit land clearing and deforestation that emits millions of tonnes of greenhouse gases into the atmosphere and is responsible for 8% of Australia’s emissions.

The federal government has now spent $1.22 billion on its “Direct Action” policy that is supposed to reduce greenhouse gas emissions but will actually allow them to increase.

The results of the government's second round of emissions reverse auctions under the Direct Action scheme were released on November 12, revealing that the Clean Energy Regulator had paid $557 million to companies in return for emissions cuts of 45 million tonnes of CO₂. The first auction, in April this year, spent $660 million to buy 47.3 million tonnes.

Environment Victoria released this statement on May 5.

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Analysis by Environment Victoria has revealed that Australia’s greenhouse gas emissions could rise by up to 20% without breaching the proposed Safeguard Mechanism in the Abbott government’s Emissions Reduction Fund because of the government’s proposed “special treatment” of coal generators in the electricity sector.

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