M E M B E R S
The World is Moving NON-GOVERNMENT GOVERNMENT ACTION ACTION
BUSINESS FINANCE & INVESTORS NON-GOVERNMENT STATES & CITIES ACTION REGIONS & COMMUNITIES FIRST NATIONS
The Paris Agreement Limit to 2 degrees of warming in the 2 nd half of this century National targets must increase in ambition every 5 years There is no end date for the Paris Agreement
NON-GOVERNMENT GOVERNMENT ACTION ACTION Article 6
Current Market Activity 57 carbon pricing Summary map of national or subnational carbon pricing initiatives that are implemented, • scheduled or under consideration initiatives implemented or scheduled for implementation, with another 23 under consideration. 46 countries with national • carbon pricing initiatives; another 10 under consideration. 28 subnational • jurisdictions with carbon pricing initiatives; another 11 under consideration. Source: The World Bank
Australian Market Activity $2.55b Emissions Reduction Fund $2b Climate Solutions Fund Safeguard Mechanism
Global Carbon Prices International Carbon Prices ($AUD) 45 40 $39.06 35 $33.45 30 $26.24 25 $(AUD) $22.23 $23.01 20 $17.00 15 $15.55 $15.00 $14.17 10 5 $0.34 0 CDM (1) Australia (3) Australia (4) Beijing Pilot (2) New Zealand (6) California (5) South Korea (7) European Union (8) (CER Dec-19) (8th ERF Auction Average) (9 th ERF Auction Average) (ACCU Spot) (Spot) (NZU Spot) (CCA Dec-19) (KAU19 Spot) (EUA Dec-19 ) (CCA Jun – 19) (CER Jun – 19) (EUA Jun – 19) Sources : CER|Demand Manager|Carbon Pulse|EEX|ICE|KRX ACCU (24/5/19), NZU (6/6/19), KAU (30/5/19) | Beijing, CCA,CER,EUA (5/06/19) | ACCU Auction (17/12/18) |
Growing Demand for Carbon Sub-National Queensland Land Climate Targets Restoration Fund State-based Policy CORSIA Aviation Mechanisms Agreement International Shipping Carbon Neutrality, Developments Products & Services
BUSINESS Physical, Economic, Policy TRANSITION & Management Risks Engaging in voluntary Building Long-term action to prepare for Climate Strategy to future compliance Reduce, Reuse & Offset Knowledge Sharing Taking a market Capacity Building leadership position by Commercial Relationships investing in carbon
THE VISION The Carbon Farming Industry Roadmap For the domestic Carbon Farming Industry to be a vibrant sector in the Australian economy, providing a strong source of jobs and revenue for the range of market participants, whilst making a significant contribution to Australia’s net -zero emissions trajectory by 2030. 360-480 MtCO2e 10,500-21,000 $10.8-$24 Billion carbon abatement direct & indirect revenue from carbon delivered jobs projects
THE OPPORTUNITY Regional and rural Australia has a significant opportunity to be the supplier of carbon to Australian business, and in the long-term export carbon credits, knowledge and expertise to a global market.
Brad Kerin General Manager E: brad.kerin@carbonmarketinstitute.org www.carbonmarketinstitute.org
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