Extract from an article by Jayanthi Kumarasiri and Nava Subramaniam
Many of Australia’s most carbon-intensive companies are either not participating in the federal government’s flagship Emissions Reduction Fund (ERF), or are adopting a wait-and-see approach, according to our survey of senior executives.
The ERF, introduced in 2014 after the repeal of the carbon tax, is the central component in the government’s policy to reduce greenhouse emissions. Companies can bid for money from an overall fund of A$2.55 billion, to invest in low-carbon technologies and initiatives. Participation is voluntary.
Five ERF auctions have been held, awarding A$2.23 billion so far. However, participation by high-emitting companies has been persistently low.
Some of the funded projects are likely to deliver useful emissions cuts in areas such as forestry, landfill and waste management. But the scheme is yet to reduce emissions reductions in key sectors of the economy such as industry and electricity generation. Our survey underlines concerns that the scheme is not attracting the biggest emitters…(continues)
SOURCE: Jayanthi Kumarasiri and Nava Subramaniam, “Australia’s biggest emitters opt to ‘wait and see’ over Emissions Reduction Fund”, The Conversation, 15 May 2017
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