The Council recognises that the Climate Change Authority (the Authority) is conducting a review of international carbon markets (the Review) in the context of the Paris Agreement and at the request of the Minister for Industry, Energy and Emissions Reduction. The Review will provide advice on the principles and criteria to apply to the future use of international offsets under the Government’s Climate Active program and will inform the development of Australia’s Indo-Pacific Carbon Offsets Scheme (IPCOS) and may be relevant for accounting for Australia’s national emission reduction targets.
