Victoria showcases carbon market capability
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17 October 2008
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Victoria is being positioned as an Asia-Pacific carbon trading hub with establishment of a new taskforce and the launch of the Melbourne Carbon Market Services Guide.
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The Melbourne Carbon Market Services Guide, developed by the Department of Innovation, Industry and Regional Development, is a valuable reference for Victorian businesses requiring carbon trading services.
The Melbourne Carbon Market Services Guide, was compiled in conjunction with the not-for-profit group; The Climate Group, chaired by former deputy Premier John Thwaites.
The Guide includes a directory of Victorian firms offering carbon trading and associated services such as monitoring, reporting and verification. The directory will be regularly updated on the website at: www.business.vic.gov.au/carbonmarket
The directory already lists 86 organisations including: AGL Energy Ltd, ANZ, Ernst & Young, Greenfleet, IBM Australia, Landcare CarbonSMART, KPMG, nabCapital and Transurban Ltd.
Launching the Guide at the first Melbourne Carbon Markets Taskforce meeting, Acting Minister for Industry and Trade, John Lenders, said Victoria was well placed to benefit from opportunities created by the Federal Government’s proposed Carbon Trading Scheme, set to begin in 2010.
“The State Government is taking action to ensure Victoria and its industries capitalise on emerging carbon trading opportunities,” Mr Lenders said.
“Australia will have the second-largest emissions trading scheme in the world and the largest in the Asia-Pacific with a direct market value of $10 billion. Globally, the opportunities are even more impressive with markets valued at $68.4 billion in 2007.
“With strong green capabilities and the lion’s share of Australia’s heavy industry and energy markets, Victoria has the opportunity to foster this new industry, creating jobs, skills and unique business opportunities.”
The new Melbourne Carbon Markets Taskforce comprises key industry, business and community leaders who will undertake strategic planning at state and federal levels.
The taskforce includes Rio Tinto, NEMMCO, Origin Energy, Orica, Toyota, Goldman Sachs JB Were, NAB and ANZ, and industry associations such as the Victorian Employers' Chamber of Commerce and Industry (VECCI).
Mr Lenders said the taskforce would support development of Victoria's economic case to become the home of key carbon market activities including regulatory functions, exchange mechanisms and research institutions.
“Our competitive advantages in key sectors such as financial services, research and consulting and our strong international linkages make us an ideal hub for carbon market activity, not just within Australia but across the Asia-Pacific region,” he said.
“The capabilities listed in the Melbourne Carbon Market Services Guide underline the strength of our case and the taskforce will now set about developing and promoting that case.”
Mr Lenders said Victoria was at the forefront of Australia’s efforts to develop a strong and effective response to climate change with a renewable energy target of 10 per cent by 2016 – the strongest of any state.
“It is important to recognise that climate change represents significant opportunities for business as well as risks and challenges and the Government is working with industry to help it take advantage of these opportunities,” he said.
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