Australian businesses and farmers are being urged to apply for the government’s latest round of emissions reduction projects, which could see them paid for reducing pollution.
The Morrison government has pumped $2 billion into the Emissions Reduction Fund, while also renaming it the Climate Solutions Fund.
The latest round of auctions opened on Wednesday, with previous projects focused on improving soil health and farm land productivity.
The auction remains open until Thursday.
Despite the CSF being in its ninth round, Australia’s overall emissions have continued to increase under the coalition.
Minister for Emissions Reductions Angus Taylor says the auction scheme has contracted more than 780 projects, with 192 million tonnes of abatement.
The plan is key to achieving the 328 million tonnes of abatement needed to achieve the Paris targets, he added.
“The CSF gives Australians the incentive to adopt new practices and technologies to reduce greenhouse gases, and at the same time being rewarded for their efforts to deliver real abatement,” he said in a statement.
“Our national target is achievable, balanced and responsible, and is part of coordinated global action to deliver a healthy environment for future generations without wrecking our economy.”
Contracts are created for projects successful at auction, with payment determined by how much carbon is abated.
Labor targeted Mr Taylor during Question Time in parliament on Tuesday, repeatedly asking him if emissions have gone up over recent years.
“It is true of the absolute level there was a small increase in the last 12 months,” he admitted.
But emissions per capita were their lowest levels in nearly 30 years, he added.