<
https://theconversation.com/how-australias-new-fuel-efficiency-scheme-quietly-created-a-carbon-currency-for-cars-and-its-working-276379>
"Australia’s new fuel efficiency scheme has been in place for just seven
months.
But the New Vehicle Efficiency Standard has already created a new, tradeable
carbon currency applying just to cars and light commercial vehicles (utes and
vans) market. In just months, the scheme has created a surplus of roughly 16
million “NVES unit” credits.
When manufacturers sell efficient cars, they earn credits. When they sell
high-emitting ones, they rack up a debt. Any debts will have to be settled
either by buying credits from car companies in surplus or by paying financial
penalties.
As a result, brands such as BYD, Toyota and Tesla are already banking millions
of credits, while others such as Mazda, Nissan and Subaru are building up debts
which will get harder to ignore. We don’t know how much credits are worth yet
as the market is too new and carmakers haven’t started trading them yet.
The architects of the scheme deliberately designed credit trading into the
laws. But the speed and scale of these market dynamics has been surprising.
From next year on, the legally binding targets will progressively tighten – and
the average new car on the road will get cleaner and cleaner."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
