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Legislative Assembly for the ACT: 2012 Week 1 Hansard (16 February) . . Page.. 437..

Environment—carbon offsets (Question No 1960)

Mr Seselja asked the Minister for the Environment and Sustainable Development, upon notice, on 8 December 2011:

(1) In relation to the Weathering the Change Draft Action Plan 2, Pathway 5 - Carbon Offsets, why is the cost of a carbon offset per tonne $25 in table 6, page 25, but based on a market price of $40 in the text, page 24.

(2) Who will buy these offsets and how will the cost be transferred to the ACT community.

(3) What is the actual environmental benefit to the ACT if the purchased offsets are not located in the ACT.

(4) Given that the rules around what may be defined as an offset, and the associated values of those offsets are fluid and currently under development; what is the basis of these estimates.

(5) Will the Government update these costs when the rules surrounding carbon offsets are more defined.

Mr Corbell: The answer to the member's question is as follows:

(1) A range of prices are available for carbon offsets, the accepted range is from $20 to $40. There is a difference in the reported figure for different years. $40 has been assumed as the price of offsets in 2020, this figure has then been expressed in 2010 dollars to remain consistent with the draft Action Plan 2 document.

(2) The mechanisms the Government will use to implement carbon offsets will be detailed in the ACT Carbon Offsets Policy. This will be released in conjunction with a final Action Plan 2.

(3) Any offset purchased would be consistent with national and international greenhouse gas offset frameworks to ensure ACT additionality to national programs.

(4) These estimates are based on current best practice (national and international greenhouse gas offset frameworks).

(5) The ACT Government is actively involved in developing the rules surrounding carbon offsets and will continue to update and improve methods as they become available.

Housing—bond money trust account (Question No 1961)

Mr Rattenbury asked the Attorney-General, upon notice, on 8 December 2011 (redirected to the Acting Attorney-General):

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