The Business Council of Australia (BCA) welcomes the opportunity to respond to the Climate Change Authority’s Review of international offsets: consultation paper.
The BCA supports accelerated action to reduce Australia’s national emissions — this decade and beyond — in order to transition the Australian economy to net zero by 2050 in an orderly and economically prosperous way. Our recent report, Achieving a net zero economy, outlines a proposed policy architecture for achieving this.
Markets for offsets have a critical supporting role to play within a holistic climate policy approach to reducing emissions effectively, efficiently and equitably. Businesses face incentives from a range of policy measures — including the Safeguard Mechanism and Technology Investment Roadmap — to reduce their own direct and indirect emissions overtime, which ultimately is necessary to achieving a net zero economy.
The development of a robust, transparent and liquid global market for carbon offsets supports businesses as they seek to reduce their own emissions overtime.

You can read the full submission here.