The Federal Election has been run and won, with the Australian Labor Party (ALP) confident of securing enough seats to form majority government. The wave of support for pro-climate candidates now provides a number of options for the ALP to implement its proposed improvements to the Safeguard Mechanism – triggering the greater contribution of the industrial sectors to Australia’s net zero emissions reduction target.
As flagged in our recent updates, the change of government will be supportive for the local carbon offset market, reflected in the return of positive sentiment to the ACCU spot market yesterday. In response to the
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