Great koala national park to proceed after carbon credit approval

A long-promised New South Wales great koala national park will proceed after the Albanese government approved a change allowing the state to receive hundreds of millions of dollars for protecting native forests previously earmarked for logging. The assistant climate change minister, Josh Wilson, said the government had approved a regulatory change that allowed state governments to earn carbon credits by storing carbon dioxide in native forests on public land.

Each carbon credit represents one kilogram of emissions prevented or removed, most often in trees or the landscape. The use of credits is contentious because polluting companies can buy an unlimited number of credits to count as their own cuts while continuing to pollute; scientists have warned that limiting the climate crisis requires rapid direct cuts in emissions and that carbon offsets should be used sparingly.

Australia, New South Wales

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