Melbourne Carbon Trading Opens

Climate chaos0

"The clean technologies are actually looking for that extra piece of value that actually makes their product competitive," he said.

"So by these organisations buying the credits or buying the offsets, what they’re doing is virtually sponsoring clean technology."

Greenpeace has welcomed the opening of the trading scheme but says a government target to reduce greenhouse gas emissions is still needed.

Greenpeace energy campaigner Mark Wakeham says without a target, the reductions will take too long.

"We know that you can make a difference with voluntary measures," he said.

"But you won’t make a difference anywhere near as quickly as you will if a government makes a decision that something will happen and sets a target for reducing our greenhouse pollution."

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