VCMA's response to the NCOS review October 2011

The VCMA is calling for the National Carbon Offset Standard to fully recognise the role of voluntary action on climate change.

We believe the carbon market needs to be credible and accountable so that consumers are getting what they pay for, and so that Australian and global carbon emissions are genuinely reduced.  An expanded voluntary carbon market will allow more organisations and individuals to reduce emissions, and even achieve carbon neutrality. However this can only occur if there is a credible, comprehensive and robust National standard to set the rules.

In its current form, the NCOS creates a disincentive for many organisations to pursue ‘Carbon Neutrality’. Guidance for carbon accounting is inconsistent and limited creating a potential credibility gap for what may end up as an expensive exercise of uncertain value. The lack of scope to generate offsets within Australia will suppress many potential Australian abatement projects and technologies. This will effectively drive investment in offset projects from Australia to other countries where the abatement is recognised. 

This situation has been brought into sharp focus for those Greenhouse Friendly™abatement providers who, having previously demonstrated financial and regulatory additionality to fulfil the programme requirements, now find themselves without an income stream or any accreditation scheme to assist in the mitigation of project costs.

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VCMA Response to NCOS Discussion Paper - Oct 2011.pdf208.43 KB