Experts warn most of Australia’s carbon credits are junk

Australia’s dirtiest companies can buy bogus carbon credits that allow trees to be supposedly grown inside of other trees, even though a landmark review said areas of existing vegetation shouldn’t count.

Carbon credits have become a major talking point of the Albanese government’s climate policy crown jewel, the safeguard mechanism, where the 215 biggest polluters must keep their emissions below 4.9% or purchase offsets — known as Australian Carbon Credit Units, or ACCUs.

But Climate Minister Chris Bowen has not set a limit on the number of carbon credits a major polluter can buy. Polly Hemming, acting director of the Australia Institute’s Climate and Energy program, says this infinity clause is causing a “large supply of dubious carbon offsets” to flood the market.