ASBG proposes that Australian carbon credits and associated energy efficiency credits adopt a Blockchain system for transactions. There are many advantages in the use of a Blockchain system which are discussed in the document. Overall its adoption should permit lower cost transactions, high inefficiencies and open the door to encouraging other international carbon units to be linked in a similar manner. The proposal for a Blockchain approach has been sent to the Federal Minister for the Environment, Mr Greg Hunt for his consideration. The proposal is below.
The Minister response is below, but in summary states that a legislative change would be required as all settlements of carbon trading must be manages by the Clean Energy Regulator. Additionally the Government's policy is not to permit international transfer of ACCUs.
