The recently released Emissions Reduction Fund Green Paper introduces a range of new – and perhaps surprising – elements to the government’s proposed ‘baseline and credit’ scheme, suggesting that a subtle re-design of Direct Action may be on the cards via the creation of a secondary market for abatement units, a strict definition of ‘additionality’ and the potential application of ‘absolute’ emissions baselines.
In the lead up to the July 1 commencement of the ERF, we analyse the new design elements of the Green Paper, including the implications for the future design of the scheme, and what it may mean
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