Highlights
- Carbon abatement from schemes administered by the Clean Energy Regulator reached 50 million tonnes of carbon dioxide equivalent (CO2-e) in 2019 and is expected to ramp up to 59 million tonnes in 2020.
- Investment in renewables remained strong with 755 MW capacity reaching financial close in Quarter 4 2019. The Renewable Energy Target has not acted as a cap on investment.
- Records were broken across all carbon markets in 2019 with:
- 14.8 million ACCU’s issued
- 29.6 million LCG’s were validated
- 35.8 million STC’s were validated, and
- Total renewable capacity installed in 2019 was 6.3 GW, with 4.1 GW in large scale and 2.2 GW in small scale.
- Estimates showing 25 per cent of electricity in the NEM was from renewables by the end of 2019.
- The optional delivery contract under the Climate Solutions Fund is being trialled for auction 10 reducing investment management risk for project developers, resulting in likely acceleration of project registration and crediting.
- Increasing use of renewable energy and LGC’s to offset emissions as businesses explore options to address climate risks.
- Australia’s 2019-20 bushfires, while having a devastating impact across communities in rural and regional Australia, have not had a material impact on our schemes to date.
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Other Quarterly Carbon Market Reports
For a list of all other published reports, please see Quarterly Carbon Market Reports.