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Bowen is asked about the use of carbon credits to meet targets. Bowen says they will play a role, but it cannot be an excuse to avoid real action.
Of course there will continue to be some emissions with the best will in the world and carbon credits can play a role, properly and carefully designed with proper verification and it’s an economic opportunity for Australia again with the right policy settings which this government is simply going to fail to deliver.
We said we’ll have more to say post Glasgow. We’ve now got the Government’s alleged plan, in inverted commas. We don’t have their modelling. You don’t release a budget reply until you see the budget. …We’re waiting on more detail from the modelling.
The government puts too much store in carbon capture and storage. They use it as an excuse to avoid reducing emissions in other ways. If it can play a role practically – and not just capture and storage, but capture and use – a wonderful entrepreneur won a prize in Glasgow for carbon capture and use.