Australia is partnering with neighbouring countries in the Indo-Pacific to reduce emissions.
The Australian Government is developing a carbon market for offset trading in our region. A carbon market lets governments, businesses and individuals offset their emissions by investing in emissions reduction, avoidance or sequestration projects. The projects generate carbon offsets for every tonne of carbon dioxide equivalent stored or avoided.
The Indo-Pacific Carbon Offsets Scheme is a $104 million, long-term commitment to climate action in the region. It will run for 10 years until 2031.
The scheme will help partner countries generate and trade high-integrity carbon offsets under the Paris Agreement.
We will support our partner countries to establish:
The scheme aims to:
We’re co-designing the scheme with:
This includes consulting stakeholders on the principles guiding the scheme design. The high-level scheme design principles are:
The principles will ensure that the scheme generates carbon offsets that meet environmental and social integrity standards.
We will manage the scheme with support from the Clean Energy Regulator.
We’re also working with other departments to develop and implement the scheme:
Last updated: 6 January 2022
Content ID: 70520