The independent experts call for the dire attention of Turnbull Government for changes to the Coalition’s Direct Action climate policy. These independent experts are the advisors to the Turnbull Government.
The recommendation of the independent experts comes ahead in respect of the $2.55bn Emissions Review Fund. This Emissions Review Fund is regarded as the Central Plank of Direct Action. It is a fund which pays a sum to the landowners and the companies to avoid carbon dioxide emissions or else to sequester them in the plants at the lowest possible cost. The Emissions Review Fund is a part of a project meant to reduce the carbon pollution in Australia.
The Emission Reduction Assurance Committee highlights one type of project which features the potent greenhouse gas. This project portrays how the existing landfill sites capture the methane from the decomposing rubbish and burn it for the generation of energy. This project is gaining huge revenues from the sales of the electrical and the renewable energy certificates. These certificates are meant to cover the costs as they are likely to continue further without the support of the taxpayers. A report indicating the same was published on the internet in the latter half of March 2018.
However, the long-standing criticism still focuses on blaming the Emissions Review Fund to be a failure to deliver the cuts which the government has promised before. As per the critics, currently, the Emissions Review Fund is generating ‘junk’ carbon credits. These junk carbon credits are not the actual representatives of the carbon reductions. Instead of this, the industries and the government to set out the carbon emissions utilize the junk carbon credits.
Tim Baxter says, “There is no way that 191m tonnes of abatement are being kept in the ground or sequestered (as the government has claimed). Based on the design and accounting, we are either counting abatement that they were already doing or we’re counting emissions they were not going to be released anyway.” Tim Baxter is the legal academic at the University of Melbourne.