Following the implementation of the Chubb Review, and changes to the Safeguard Mechanism, Australia’s carbon market is continuing to develop at a rapid pace.

To get an indication of how Australian businesses view the carbon market reforms and their industry’s decarbonisation progress, Viridios Capital commissioned Freshwater Strategy to conduct a survey among environmental and sustainability professionals based in Australia.

The results show that while a majority of carbon market professionals believe Australia’s emissions policy is heading in the right direction, there is still a lot of work to be done in its execution.

In particular there is shown to be strong demand for carbon credits, which are considered necessary to achieve climate targets. The survey found that two-in-three businesses with ESG professionals (66%) have purchased or plan to purchase Australian Carbon Credit Units (ACCUs) and almost half (47%) said the same for international credits.

You can download the full report from Viridios here.