Australia's carbon market breaks new record
PERTH (miningweekly.com) – Australia’s carbon markets broke new records in growth in renewables and carbon offsets in 2021, with the Clean Energy Regulator’s quarterly Carbon Market Report showing that on average, almost one-third of all electricity generated in the National Electricity Market in 2021 came from renewable energy sources, double what it was in 2017.
“Australia now has more solar generation capacity per person than any country in the world, and more wind and solar than any country outside of Europe,” Minister for Industry, Energy and Emissions Reduction Angus Taylor said.
"There is an 11-year trend of growth in the share of electricity coming from renewable sources, which bottomed out in 2008/09 at just 7.5%. Last year saw another record for the Emissions Reduction Fund (ERF), with 17-million Australian carbon credit units (ACCUs) issued, representing 17-million tonnes of carbon emissions stored or avoided.
“New project registrations reached a high of 198 in 2021 and seven new methods were made in 2021, increasing the future supply of ACCUs.”
Taylor noted that businesses, households and governments are voluntarily acting to reduce their emissions, and that a record 5.8-million large-scale generation certificates and 950 000 ACCUs were cancelled to prove use of renewable energy and reduce other net emissions.
This represents direct emissions reduction, in and for Australia, and leads to more ERF projects being registered and new renewable energy power stations being built.
The Clean Energy Regulator conservatively estimates that the units and certificates issued in Australia’s carbon markets reduced emissions by the equivalent of 58-million tonnes in 2021, 9.1% more than in 2020.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation