National Carbon Market Institute to be based in Melbourne

Victoria will be home to the national Carbon Market Institute, giving Melbourne the advantage to become a major centre for carbon market business in the Asia-Pacific region, the State Government has said.

Victorian Financial Services Minister John Lenders said that a $3.5 million contribution from the State Government would be used to establish a national Carbon Market Institute to help Australian businesses with the implementation of climate-related markets.

The Institute will be an independent, not-for-profit organisation established in partnership with the Asia-Pacific Emissions Trading Forum. It will be located in the Victorian Employers’ Chamber of Commerce and Industry’s East Melbourne headquarters.

“The new institute will help businesses develop and implement new ways to cut their carbon emissions effectively,” Mr Lenders said.

“By taking action now we are positioning Victorian industry to capitalise on the sustainable opportunities being created as the world prepares for the realities of climate change,” Mr Lenders further explained.