US PRESIDENT Joe Biden’s Leaders Summit last week revealed that climate action ambition is increasing and the timeframes for taking strong action are shortening, states the quarterly International Carbon Markets Briefing from the Carbon Market Institute (CMI). 

CEO of the CMI, John Connor said after years of a vague focus on 'low carbon economy' aspirations, discourse had shifted to 2050 net-zero emission goals and, importantly, the credibility of nations’ plans to get there, including their 2030 targets. 

“This scrutiny and momentum sets a precedent and expectation for what is to come in the next six months to COP26,” Mr Connor said.  “Between now and November there are more opportunities for strengthened targets to be announced, including at the UN General Assembly in September, the G20 Summit in October, and at CMI’s 8th Australasian Emissions Reduction Summit in June.”

According to the CMI briefing launched today, last week’s announcements now mean that over 50 percent of global GDP is aligned with an emissions reduction trajectory designed to keep average global warming to 1.5ºC and that 70 percdent of the global economy is now covered by a net zero target, including every G7 country.

However, Mr Connor warned that countries with similarly high levels of climate ambition were likely to develop improved terms of trade between them, disadvantaging those lagging behind. 

“With countries like Australia falling behind this increased ambition, investments in the just transition may end up unevenly distributed,” Mr Connor said. “That’s because those countries with concrete or legislated targets provide more assurance for clean economy investment opportunities.

“Strong global climate ambition and collaboration is driving better aid, trade and diplomatic relationships between these nations and will inevitably position them to be able to take more, and more immediate, advantage of opportunities. This mitigates risks to their economies and communities as the climate crisis deepens.”

The CMI welcomed the Australian Government’s announcement to fund development of Article 6 capacity building in the Indo-Pacific, saying it represents a clear and timely shift in policy towards more open and constructive engagement in international carbon markets.

“Regional engagement in international carbon market development is a critical step for Australia to play a more meaningful role in the region,” Mr Connor said.

“Australia has a wealth of knowledge and expertise in the development of nature-based solutions and our decarbonisation and drawdown industries are very keen to engage in the challenge of international carbon markets, positioning our domestic industry for growth. 

“Australian business stands ready to engage, and we look forward to working with government on these developments.”

About CMI

The CMI is the independent industry association for business leading the transition to net zero emissions. Its members include primary producers, carbon project developers, Indigenous corporations, legal and advisory services, insurers, banks and emission intensive industries developing decarbonisation and offset strategies. The CMI's Quarterly International Climate Policy and Market Developments Briefing is a member-only publication. www.carbonmarketinstitute.org

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THE Australian Taxation Office (ATO) and the Tax Practitioners Board (TPB) are focused on measures to intercept attempted identity fraud targeted at registered tax practitioners and their clients.

New guidelines will strengthen and modernise the practices and controls that registered tax practitioners follow when verifying the identity of their clients.

The ATO has seen an increase in attempts by criminals to commit refund fraud by stealing the identities of taxpayers which has coincided with an increased reliance on technology and remote working practices. Having your identity compromised can have devastating financial consequences.

A lack of consistency to verifying the identity of clients has left individual tax practitioners vulnerable to attack. Practices that retain client identity documents insecurely are also at greater risk of having these documents stolen through physical break-ins.

The ATO’s draft guidance encourages tax practitioners to voluntarily start adopting the new client verification standard immediately, with the view for the standards to become compulsory in the future following an initial transition period and further consultation with the tax profession.

ATO Assistant Commissioner Sylvia Gallagher confirmed there was not an expectation that tax practitioners need to go back and verify the identity of their entire client base as part of the transitional approach.

"We’re asking that they perform identity checks from this point on, at the next opportunity in their normal dealings with clients,” Ms Gallagher said.

Inviting feedback on the TPB’s draft guidance, the TPB chair Ian Klug said, “We value the support of the tax profession in implementing these important controls to better protect the Australian community from tax fraud through identity crime.’’

Mr Klug further said the TPB’s guidance would apply to all registered tax practitioners regardless of whether they use the ATO’s online services or not.

“The Tax Agent Services Act 2009 does not expressly set out minimum requirements for tax practitioners to verify a client’s identity. However, there are implications under this Act if tax practitioners fail to take reasonable steps to ensure the identity of their clients is established. Our draft guidance provides practical guidance and examples so tax practitioners do not fall foul of their obligations and put their registration and business at risk,” Mr Klug said.

Tax practitioners who are unable to successfully verify a client’s identity and suspect potential fraud should contact the ATO on 1800 467 033.

The ATO’s draft guidance is available on the ATO website. The ATO is seeking feedback from tax practitioners. Submissions can emailed to This email address is being protected from spambots. You need JavaScript enabled to view it..

The TPB’s draft practice note is available on the TPB website. Submissions can be emailed to This email address is being protected from spambots. You need JavaScript enabled to view it. or sent by mail to GPO Box 1620, Sydney NSW 2001.

Submissions are due to the ATO and the TPB by June 10, 2021.

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THE SUCCESSFUL implementation of a bold new industry development plan for Queensland’s $82.6 billion resources sector will provide decades of jobs for Queenslanders, the Queensland Resources Council (QRC) said today.

QRC chief executive Ian Macfarlane said today’s launch of a Queensland Resources Industry Development Plan (QRIDP) by Resources Minister Scott Stewart was a crucial step towards building the state’s global reputation as a low-emissions energy superpower.

“The State Government is delivering on its pre-election commitment to work with the QRC and other stakeholders to develop a plan that maximises the benefits and addresses the challenges facing resources companies and resources communities at a critical time in world history,” he said.

“The next step is to make sure a clear plan and set of actions is developed in a timely way, for government and industry to take forward to secure the future of our industry and the future of Queensland.”

Mr Macfarlane said the global pandemic had made people more aware of the importance of a strong, stable state economy to their everyday lives.

“A new development plan for the resources sector will concentrate on promoting industry growth as well as responsibly unlocking resources and using low-emission energy to lower power costs,” he said.

“This is a genuine opportunity for the government and resources sector to work together to fix what isn’t working, remove unnecessary red tape and inefficiencies and set targets and pathways for growth.”

Mr Macfarlane said the plan would expand the Queensland economy and create more jobs and business opportunities, placing the state in a prime position to benefit from the world’s ever-increasing demand for energy from a mix of low and zero emission sources.

“We know from decades of exploration data that Queensland has a broad and abundant mix of resources, ranging from coal and gas to copper, zinc, lead, bauxite, nickel and silver, as well as critical minerals such as vanadium, titanium, scandium and cobalt which are essential in the production of renewable technologies,” Mr Macfarlane said.

“Queensland also has 300 days of sunlight a year to support a growing solar power industry, is closely located to expanding Asian markets particularly South-East Asia, has a critical mass of skilled resources workers and a strong safety culture to support future expansion.

“We have all the ingredients we need to support Queensland’s rise as a major supplier in the global energy market and secure our state’s long-term future.”

Other QRIDP priorities include:

• maximising social and economic community benefits from the resources sector;
• streamlining of government regulatory processes;
• opportunities to expand advanced processing of resources in Queensland;
• minimum 12-week consultation process for regulatory change of material impacts;
• continued support for explorers through initiatives such as the Collaborative Exploration Initiative;
• identification of further growth opportunities for Qld’s Mining Equipment, Technology and Services (METS) sector;
• prioritising best practice environmental protections and rehabilitation based on Queensland’s landmark financial provisioning laws;
• facilitating access to the state network of common user ports, rail lines and electricity infrastructure to create new opportunities.

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ON THIS International Day of Mourning, which commemorates those who have died at work, The End COVID for All campaign and the Australian Nursing and Midwifery Federation (ANMF), have come together to pay tribute to the 3,000 nurses across the world who have died from COVID-19 since the pandemic began.

Tragically, that is more nurses than the total of nurses who died throughout the entirety of World War One.

“Nurses around the world have been at the forefront during the fight against COVID-19. Today, we stop and reflect on their extraordinary commitment, dedication and the sacrifices they made for those people in their care,” ANMF acting federal secretary, Lori-Anne Sharp, said today.

“Sadly, their efforts in caring for people suffering from COVID-19 has come at a considerable cost, with thousands of nurses across the world losing their lives. And we must honour their service to the community.

“Many nurses across the region are exhausted and depleted. They have been running on adrenaline to keep their communities healthy and stop the spread of COVID-19. A lot of nurses are experiencing burnout and stress, related to the pandemic response.”

TShe said there must be increased investment in the size and training of the Asia-Pacific health workforce and sufficient supplies of vital Personal Protective Equipment (PPE), adequate fit testing and access to appropriate diagnostic and medical equipment.

“We need a serious financial and political commitment to expand nurse numbers and provide nurses with the training and equipment needed to provide safe patient care and prevent healthcare worker infections," Ms Sharpe said.

The End COVID for All campaign is calling for the Commonwealth Government to invest at least $1 billion to boost the COVID-ravaged health systems of the Asia-Pacific, to better support nurses and their patients on the frontlines of the pandemic.

Reverend Tim Costello, of the End COVID for All campaign, said the Australian Government could do its part to strengthen the regional effort.

“Right now in Papua New Guinea, top health experts warn we could have one million COVID cases within weeks. In this crisis it’s hard to think of a smarter investment than in nurses and health support for our near neighbours,” he said.

“Whilst the Australian Government have made a contribution in the region, they can and must go further. We must invest in the nurses, hospitals and health equipment that gets our mates in nations like PNG through this crisis and helps them to rebuild for the future.

“Many of our neighbours were already battling diseases like tuberculosis, HIV and malaria before COVID hit. The pandemic has made that so much harder. They need our support."

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