Fixing the abatement black hole

With an emissions reduction target looming large, Greg Hunt cannot afford widespread failure on abatement promises. Tightening the Direct Action auction could save him embarrassment down the line.

Yesterday I wrote about how the Direct Action abatement auction scheme faces a major challenge controlling for the risk that winning bidders subsequently don’t deliver the amount of abatement they promise on the timetable promised (How 'non-delivery' haunts Hunt, October 22). Because the Abbott government has only six years left to reach its emissions reduction target, it can’t really afford to have large swathes of contracted abatement supply fail to materialise a few years after they’ve been selected in an auction.

So what to do?

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