States agree to join forces

AUSTRALIA and Papua New Guinea have agreed to join forces to create an efficient and accessible carbon market for the region under the Indo-Pacific carbon offsets scheme.
Following talks with PNG’s special climate envoy and Environment, Conservation and Climate Change Minister Wera Mori in Glasgow, Australian minister for industry, energy and emissions reduction Angus Taylor announced PNG would be one of the first international partners to join the scheme.
“Papua New Guinea has been a long-standing leader on climate change, making a major contribution to the preservation of global forests,” Taylor said.
“Australia is a world leader in emissions measurement and inventory management.
“The partnership will see our two countries share expertise to ensure PNG is internationally recognised as a source of high-integrity carbon mitigation outcomes.”
Mori said the signing of a memorandum of understanding last week on cooperation to build capacity for participation in global carbon markets was significant for PNG to engage in the Indo-Pacific carbon offset scheme which Australia had launched.
“PNG’s engagement in this scheme is critical given our on-going work on REDD-plus in preparation to develop carbon markets and the country’s engagement under article six of the Paris Agreement once concluded, including our conservation efforts,” he said.
“While the negotiations are yet to be concluded in article six, PNG agrees to a robust carbon trading system that is fair and promotes environmental integrity and sustainable development.
“The PNG Government congratulates Australia on the launch of the Indo-Pacific carbon offset scheme and assure of our commitment through the Australia-PNG climate action plan.”
Under the Indo-Pacific carbon offsets scheme, Australia will share technical expertise in carbon accounting with countries in our region to enable them to meet new Paris Agreement emissions reporting obligations.
The scheme will deliver renewable energy and nature-based solutions projects to support neighbouring countries to reduce emissions and grow their economies.
Australia also entered an early partnership with Fiji.
“Our partnership with Papua New Guinea will include a focus on encouraging private sector participation in carbon market activities and emissions reduction projects that showcase Papua New Guinea’s potential for high-integrity offsets,” Taylor said.