When I heard Greg Hunt spruiking the first auction under the Emissions Reduction Fund (ERF) last week, he sounded like a used car salesman. He has form on cherry picking statistics and imaginative accounting, so it’s best to ignore what he said and look to other sources (please note, there is other commentary in the link, including from Tim Flannery).
In the broad we need 236 million tonnes of CO2 equivalent emissions reduction to meet a 5% target. The Government has just spent $660 million (25.9%) of the $2.55 billion fund to purchase 47 million tonnes (19.9%) of abatement. Continue reading Emissions reduction auctions: Dodgy Bros or the best thing since sliced bread