Australian carbon market grows 13% in first 3 months

The first update of the Carbon Offsets Guide shows the market continues to grow, according to Victorian Environment and Climate Change Minister Gavin Jennings. Jennings said the comprehensive online directory showed a 13% growth over its first three months with 36 providers now listed in the directory. “The Guide, developed by Global Sustainability at Royal Melbourne Institute of Technology in partnership with the Environment Protection Authority, reveals that more than 16.7 mtCO2-e worth in excess of $45.9 million were traded by Australian offset providers in 2006-07,” Jennings said. He added that the Government expected the Guide would provide guidance around the issues and help ensure people are making informed choices about the offsets they purchase. Global Sustainability at RMIT and EPA launched the Guide in December 2007 as a resource for businesses, government agencies, non- Government organisations and individuals seeking information about offsets. It provides a list of voluntary carbon offset providers, prices, project locations and accreditation standards, and provides descriptions of each provider. The Guide is updated every three months, with new providers added to the website and information on existing providers updated.