The Chamber of Minerals and Energy of Western Australia (CME) has very strong reservations about the imposition of 100 per cent offsets for direct (scope 1) emissions. In particular, we think the notion of offsets being WA based offsets has massive potential downside risk. The offset market in both WA and Australia is still developing. Were these EPA guidelines to be adopted as Government Policy, the WA offset market would simply not cope.
WA is endowed with significant gas reserves. Gas is a major part of the transition to a cleaner energy future. The guidelines as they stand will negatively impact WA gas projects and potentially prevent some projects proceeding. This would put at risk billions of dollars of investment; thousands of cleaner energy jobs and damage the very industry that is helping WA and the world to transition to a clean energy future.
In their current form, these guidelines could do significant damage to the WA economy just as things are starting to look brighter.
We call on the WA Government to reassure industry that they will not adopt these guidelines as their policy.
