Fourth Emissions auction sets carbon abatement at $10.69 a tonne – December 2016
After the Government’s fourth Emissions Reduction Fund (ERF) auction the Clean Energy Regulator has awarded 47 contracts for 34.4 million tonnes of abatement at an average price per tonne of $10.69.
Environment and Energy Minister Josh Frydenberg said total abatement contracted under the ERF since April 2015 was now 178 million tonnes with the average price per tonne across all four auctions at $11.83.
“Results from this latest auction will help ensure we meet our 2020 emissions reduction target, which we are currently on track to beat by 78 million tonnes, and assist in meeting our 2030 target,” he said.
“The ERF provides a broad range of opportunities to reduce emissions right across the economy while generating income and employment for rural and Indigenous communities and improving biodiversity.
“Projects include those that allow natural forests to re-grow, store carbon in the soil, and promote energy efficiency.”
Full results from the fourth ERF auction are available on the Clean Energy Regulator's website: www.cleanenergyregulator.gov.au