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23 April 2021
Upgrades to facilities producing explosives for the resources sector has secured almost half of the abatement contracts awarded at the latest Emissions Reduction Fund, the auction of carbon credits introduced by the federal Coalition government.
The Clean Energy Regulator announced the results of the 12th abatement auction on Friday, securing contracts for 6.8 million tonnes of carbon abatement across ten projects.
The volume was down from the 7 million tonnes secured at its last Emissions Reduction Fund auction held in September last year, and saw just one project, the Orica Kooragang Island Decarbonisation Project, secure half of the volume contracted.
The regulator paid an average price of $15.99 per tonne for the abatement, committing a total of $108 million to purchase the emissions reductions, with emissions reductions to be delivered over the next ten years.
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