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