Viridios Submission to the Safeguard Mechanism Reform Consultation

Viridios Capital welcomes consultation on the Safeguard Mechanism. The Safeguard Mechanism framework can be a meaningful lever supporting Australia in achieving its 2030 and 2050 climate targets. However, in order to support Australia on its trajectory towards a 43 percent reduction by 2030, the Safeguard Mechanism baselines need to be reset, tightened and the headroom removed to encourage immediate action.

Viridios Capital welcomes the opportunity to provide a submission to the Independent Review of Carbon Credits. Improving the governance of the Emissions Reduction Fund (ERF) will be critical in helping to ensure the integrity of Australia’s carbon markets. Central to this is effectively managing the Clean Energy Regulator’s (CER) inherent conflicts of interest.