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Carbon credit critics let the perfect be the enemy of good

The anti-greenwashing campaign against Climate Active has generated unwarranted scepticism about the rigour which underpins Australia’s carbon market.

With the election out of the way, one of the immediate challenges confronting the Albanese government will be how to deal with the increasing gap between its climate ambitions and the ability of Australia’s large emitters to meet them.

While the climate debate has focused on energy, and particularly the transition from coal which still provides around 60 per cent of our electricity needs and which has become even more resonant with the recent blackouts in Spain and Portugal that impacted 60 million people, this sector only represents about 30 per cent of Australia’s emissions. The other 70 per cent – industry, transport, agriculture and waste – has effectively been ignored. But that’s about to change.

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Patrick Gibbons is a former Tehran-based diplomat and partner at corporate advisory firm Orizontas.
Peter Castellas is CEO of Climate Zeitgeist which catalyses investment climate solutions.

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    Original URL: https://www.afr.com/policy/energy-and-climate/carbon-credit-critics-let-the-perfect-be-the-enemy-of-good-20250526-p5m289