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 Australian
Carbon Offsets Market Doubles In 6 Months: RMIT University
Melbourne,
11 December 2007
The
number of carbon offset providers in the Australian market has doubled
over the past six months, according to a research project conducted
by Global Sustainability at RMIT' in partnership with EPA Victoria.
At
least 3.28 million tonnes of carbon dioxide equivalents were traded
by Australian carbon offset providers in 2006/07 with a value of
at least $44 million.
In
such a rapidly expanding market, Global Sustainability at RMIT and
EPA identified the need for a web-based Carbon Offsets Guide as
a resource for businesses, government agencies, NGO organisations
and individuals seeking information about offsets.
The
Guide provides a list of carbon offset providers, prices, project
locations, descriptions and accreditation standards.
EPA
chairman Mick Bourke said the website, www.carbonoffsetguide.com.au,
delivers the most comprehensive and independent directory of Australian
offset providers.
“It
is hoped this resource will improve the understanding of the offsets
market by Australian businesses and facilitate better environmental
and economic outcomes,” said Mr Bourke.
“Offsets
are only one aspect of an organisation’s broader carbon management
strategy. EPA recommends a strategy involving accurately calculating
the greenhouse gas emissions from operations, products and services;
avoiding and reducing these emissions where possible, and then offsetting
those emissions that cannot be reduced further,” said Mr Bourke.
Global
Sustainability at RMIT director Caroline Bayliss said that while
prices per tonne of carbon offsets have remained relatively stable,
there are marked differences in prices between different products,
with prices ranging from less than $10 up to over $50 per tonne,
reflecting the variety in types of offset projects and their accreditation
status.
“Our
research shows there is a trend to greater diversity in the projects
being undertaken by offset providers, in a larger range of geographic
locations,” said Ms Bayliss.
“There
is a trend towards achieving external accreditation but this remains
patchy. This can potentially create confusion for prospective offset
purchasers,” said Ms Bayliss.
During
the launch of the Carbon Offsets Guide held at nabCapital’s
premises, nabCapital Australian Head, Mr Shaun Dooley, said businesses
were definitely looking for support to help them navigate the carbon
offsets market.
“Since
the NAB Group announced earlier this year, its intention to become
carbon neutral by 2010, resources that will continue to inform our
decision-making are very important,” said Mr Dooley, who also
chairs NAB's Climate Change Leadership Group.
"People
are becoming more and more engaged with climate change on a global
basis, and it's imperative that corporations like NAB are supporting
this movement. There is no doubt that global warming is one of the
most concerning issues of our time,” said Mr Dooley.
RMIT
conducted benchmarking research in May 2007 when the market comprised
around 15 offset provider organisations. In October this year, 32
carbon offset provider organisations were identified for inclusion
on the new website.
The
Carbon Offsets Guide website will be reviewed and updated every
three months. At that time, new providers will be added to the website
and information on existing providers will be updated.
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