Green Paper Review: Direct Action’s New Design Elements

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 for the mechanics of the reverse-auction market.

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