Media Alert

INTERNATIONAL CARBON TRADING WILL WRECK GARNAUT PLAN

July 4 2008

Friends of the Earth Australia welcomes Professor Garnaut's recognition of the scale of the climate emergency and the need for urgent action, but warns the emission trading scheme will not solve the climate problem.

And Garnaut's recommendation to integrate the emissions trading scheme (ETS) with international carbon markets threatens to wreck any contribution the ETS might make to reducing Australia's greenhouse gas emissions.

Under the Garnaut plan, companies that are required to make emission cuts can offset their obligations by purchasing carbon credits generated overseas.

"International linkage is the biggest threat of leakage in Garnaut's plan", Damien Lawson, Friends of the Earth Australia, Climate Justice Coordinator said today.

"The international carbon credit market is unregulated and unverifiable and should not be allowed to wreck the push for emission cuts in Australia."

"Polluters must be made to reduce their emissions in Australia, otherwise the whole scheme is worthless."

"Just integrating the scheme with Kyoto's Clean Development Mechanism will not not address the problem as the CDM is flawed and corrupted."

"Many carbon credits schemes and projects, including those in the CDM are also threatening the livelihoods and environment of communities in the developing world."

"Friends of the Earth will continue our campaign to have the government limit the scheme to Australia. Australian emissions must be reduced in Australia by polluters."

Friends of the Earth also welcomes the exclusion of forestry offsets from the scheme which would also undermine the push to reduce greenhouse pollution. This initial exclusion should become permanent. We must end the logging of native forests and stop burning coal not one or the other.

For more information and comment: Damien Lawson 0419 253 342