Questions over ACCU review after allegations panel member urged ‘potential’ for investors
A member of the high-powered review of the integrity of Australian Carbon Credit Units is said to have raised their investment potential in comments that, if correct, raise concerns about the review process.
There are questions over the government’s review of Australian Carbon Credit Units (ACCUs) after a member of the review panel discussed the “potential” for investment in ACCUs by an infrastructure fund she is linked to.
In July the government announced a review of ACCUs in the wake of a whistleblower, ANU professor Andrew Macintosh, revealing significant problems with credits generated by the Coalition’s Emissions Reduction Fund. Up to 80% of ACCUs generated by the scheme may be worthless in terms of actual additional emissions abated under the ERF — a claim rejected at the time by the Clean Energy Regulator that oversees the ERF.
The government will be relying on ACCUs and a new class of carbon credits created under its revamped safeguards mechanism as part of its emissions reduction plans.
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About the Author
Bernard Keane
Politics Editor @BernardKeane
Bernard Keane is Crikey’s political editor. Before that he was Crikey’s Canberra press gallery correspondent, covering politics, national security and economics.