A reputable study says that 70-80% of carbon credits “are devoid of integrity”. This is a market that is costing Australia roughly $5.5 billion based on carbon credit units that even the Greens agree is a scam. This is driving up prices even higher in the middle of a cost of living crisis.

It’s time to stop the corruption and cancel these ridiculous net-zero policies.

Transcript

Carbon dioxide credits are a scam and an absolute fraud, and the Greens agree with One Nation on this. Yes, you heard that correctly. It’s difficult to believe. Australians may wonder what we agree on Granted, the Greens and One Nation have come to the same conclusion for very different reasons. Nonetheless, we share the conclusion that carbon dioxide credits are a scam. They are rife with opportunities for fraud. 

The Clean Energy Regulator has issued 140 million carbon dioxide credits. At the current spot price of $35 each, this represents a racket potentially worth $4.9 billion. That’s expected to grow by 20 million credits, or $700 million, this year alone, making it $5.6 million. 

The Greens and One Nation aren’t the only ones to criticise Australian carbon credit units, or ACCUs. In 2022 Professor Andrew Macintosh, environmental law expert at the Australian National University, and his colleagues published a series of papers absolutely tearing apart the ACCU system. Keep in mind that this is a $5.5 billion market that’s being fabricated, in part to give the UN income, ultimately. As usual, they enlist parasites who benefit while pushing UN policy for them. For example, the major banks. Rothschild Australia, the Bank of America and Merrill Lynch had on their advisory boards in this country at the time the CSIRO chief executive, Dr Megan Clark—a conflict of interest? 

Back to the study of ACCU carbon dioxide credits. The study was done under Professor Andrew Macintosh, who said: 

The available data suggests 70 to 80 per cent of the ACCUs issued to … projects are devoid of integrity … 

So 20 to 30 per cent may have some integrity. Remember, this is a $5.5 billion market. Here’s another quote: 

What is occurring is a fraud on the environment … 

‘A fraud on the environment’, I say to the Greens. This is what Dr Macintosh said: 

What is occurring is a fraud on the environment, a fraud on taxpayers— 

Australian taxpayers— 

and a fraud on unwitting private buyers of ACCUs … 

In response to these revelations, the government commissioned what they call the Chubb review. The government should just have been honest and called it what it really was: a whitewash, a distortion and misinformation. Actually, the Chubb review is disinformation. In the past, when Professor Chubb has been requested to provide empirical scientific data within a logical scientific point backing up claims of climate change due to human carbon dioxide, he has repeatedly failed to produce it. He has never produced it, yet he’s often advocated for it. He’s part of the climate fraud industry and has received a lot of money to push climate fraud. He has been heavily rewarded by both Liberal-National and Labor Party governments. The Chubb review, in this case, addressed nothing of substance and provided no evidence for its claims that problems have been fixed, yet the government held the report up as proof that everything’s fine. As Professor Macintosh and his colleagues outlined in their response to the Chubb review, it spent less than six pages discussing the ACCU rules, which relate to a $5.5 billion market. They say: 

The– 

Chubb— 

report does not contain references to the evidence relied upon to reach its conclusions … 

I’ll say that again: 

The– 

Chubb— 

report does not contain references to the evidence relied upon to reach its conclusions, and includes very little analysis to support its findings. And importantly, the panel does not address key questions around the integrity of the scheme’s rules. 

What use was that? This is ‘a fraud on the environment, a fraud on taxpayers and a fraud on unwitting private buyers of ACCUs’. Here is another quote: 

Bewilderingly— 

I don’t find it bewildering; it’s straightforward, as I’ve been watching this scam unfold for years– 

in its assessment of the methods, the panel does not refer to the findings of a review it commissioned from the Australian Academy of Science … The academy … found numerous flaws in the methods and the associated governance processes. 

There were ‘numerous flaws in the methods and the associated governance processes’. This is so typical of this government. It is so typical of the Liberals, the Nationals and Labor, pushing the climate fraud. Here is another quote: 

The— 

Chubb— 

review … acknowledged the scientific evidence criticising the carbon credit scheme, but says “it was also provided with evidence to the contrary”. Yet it did not disclose what that evidence was or what it relates to. The public is simply expected to trust that the evidence exists. 

Maybe the dog ate the evidence for breakfast. This is what the government says is assurance and integrity for taxpayer money. 

While the Greens, Professor Macintosh and I may agree on the integrity issues with carbon dioxide credits, here’s where I leave them behind: there is no reason to reduce our output of carbon dioxide or trade credits for it. Carbon dioxide credits can never have integrity because they are a scam designed to transfer wealth from the pockets of everyday Australians and their families and small businesses to the bank accounts of billionaire net zero scam artists and parasitic multinationals sucking on the financial payout from climate fraud and associated financial scams. I note some of these points. I won’t go into them in detail. The government that introduced the renewable energy target, a scam, and the national electricity market that is really a national electricity racket—it’s not a market; it’s a bureaucratic controlled entity—stole farmers’ property rights across the country so that they could comply with the UN’s Kyoto protocol. They put in place the first policy—not legislation—advocating for a carbon dioxide tax. It wasn’t Julia Gillard. It was the Howard government that did all these things. The Howard government laid the foundation for all of this. It went around the Constitution to steal farmers’ property rights around the country. Then, six years after being booted from office and after the Liberals and Nationals in the Howard government told us that it was all based on science, John Howard, in a major lecture to sceptic think tank in Londan said that on the topic of climate science, he was agnostic. He didn’t have the science, and now our electricity sector has been crippled because of the renewable energy target, the national electricity market and an alphabet soup of bureaucratic agencies. 

There has never been—there never is—any empirical scientific data and logical scientific points that human carbon dioxide is warming the planet. There is not any from the CSIRO—I’ve done freedom of information requests and held them accountable in the Senate—nor from their publications ever. There is not any from the Bureau of Meteorology. It’s the same deal. There is not any from the United Nations. It’s the same deal. There is also no policy basis. There is no documented effect per unit of human carbon dioxide on climate factors such as air temperature, rainfall, heat waves, drought severity and frequency or storm severity, frequency and duration—none at all. There is no basis for the policy on which the carbon dioxide credits are based. There’s been no cost benefit analysis. There’s been no business case. Ross Garnaut, who produced a report for the Rudd-Gillard government, said in his report on the science that there basically was no science and he was going on the consensus. Yet he is parasitically sucking on solar and wind subsidies, driving up electricity prices and putting Australians into poverty. Remember, the money that goes to the extra costs of electricity in this country is a highly regressive tax on the poor in our country. 

In 2009 and 2020 we had two global experiments showing that human carbon dioxide has no effect on carbon dioxide levels in the air. We had a major downturn with the global financial crisis in 2008. We then had a recession in 2009. COVID hit us. It arrived on our shores—it didn’t really hit us; the government hit us—in 2020, and then 2020 was almost a depression because of the restrictions and lockdowns. In both years, the level of carbon dioxide in the atmosphere continued rising unabated. Yet we’ve been told for decades now that by cutting back on human production of carbon dioxide we would see the levels in the atmosphere start decreasing and go down. We had a major reduction in industrial activity and a severe recession in 2009 and 2020. The production of carbon dioxide from human use of hydrocarbons, coal, oil and natural gas decreased dramatically, yet nothing happened. The carbon dioxide in the atmosphere kept increasing. 

I asked the CSIRO why. They said that there is an inflection. I asked them for the details of that inflection, to characterise it statistically. They failed to do it. I asked the Bureau of Meteorology, and they said, ‘Senator Roberts, it would take years for that to come through.’ Here is the CSIRO saying that we’ve already seen it and the Bureau of Meteorology saying that we will see it eventually, but it will take a long while to come. You can’t make this stuff up! What the experiments in 2009 and 2020 showed is that the production of carbon dioxide from human activity will not affect the level of carbon dioxide in the air. Once you understand Henry’s law—the quantities of carbon dioxide dissolved in the ocean are 50 to 70 times more than the entire atmospheric carbon dioxide—then you start to understand why that’s the case. But not content with climate science fraud, the CSIRO is perpetrating gen cost, which is energy fraud based on bogus assumptions that have been completely debunked. Aidan Morrison has done a marvellous job; others have done a marvellous job. 

There’s no basis for this scam, this fraud, but let’s return to the fraud. A report in the 2010s said Europol found 95 per cent of carbon dioxide trading credits were suspicious. That’s easy to believe because there’s no physical basis to the measurement of reductions to carbon dioxide produced. They’re all projections. They’re all based on guesses. They’re formulae based on estimations. They were never quantified and are still not quantified. China is producing record quantities of carbon dioxide, and so are Russia, Brazil, the United States and the European Union—Australia are a small player—yet temperatures are flat and have been flat since 1995. That’s almost 30 years of flat temperatures. I urge senators to establish this inquiry so that we can get to the bottom of how taxpayer money is being fraudulently abused.