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Home | Review Minutes | A: Our Inner West 2036 | B: Community Strategic Plan | C: Vision Statement | D: 5 Strategic Directions | E: Key Community Challenges
Fri 10 Feb 2023 Recipient: 61xxxxc1
REF: AECOBAa1 IN THE PUBLIC INTEREST Y/R: Rate-payers & Councils
Dear Councillors
THE GUARDIAN: AUS COUNCILS TOLD TO CUT EMISSIONS RATHER THAN SPEND MILLIONS OVERSEAS
The Guardian article can be reviewed On-line here
The issues raised in this Article have been supported by the ABC Four Corners Mon 13 Feb 2023
programme "Carbon Colonialism"
Critics say millions of dollars are being spent by local governments on offsetting when
it should be the last resort
Joe Hinchliffe
Tue 24 Jan 2023 14.35 AEDT
Renewed questions are being asked about Australian councils' use of international
projects to offset local carbon emissions, off the back of a Guardian investigation that
found 90% of rainforest credits issued by one leading company were likely worthless.
The research into Verra, a world leader in the rapidly growing voluntary offsets
market, found that the majority of rainforest offset credits were likely "phantom
credits" and do not represent genuine carbon reductions.
The company strongly disputes the studies' conclusions, has strenuously defended its
projects and challenged the methods used to undermine their credibility, saying they
cannot capture the true impact of projects on the ground.
They say this explains the difference between the credits it approves and the
emission reductions estimated by scientists.
But the revelations have energised critics of public entities for using offsets rather
than concentrating on reducing their own emissions.
Fifteen local governments in Australia, including those in central Sydney,
Melbourne, Brisbane and Adelaide, trade offsets through Verra's registry platform,
spending millions of dollars to claim carbon-neutral status.
While the vast majority are not the rainforest credits that were the subject of the
Guardian investigation, and its findings are not applicable to them, they are mainly
for overseas-based projects, prompting questions about why local governments
aren't spending that money trying to reduce their own emissions.
Brisbane city council, Australia's largest local government, spent $6 million last year
offsetting its emissions, including banking 130,000 tonnes of carbon emissions on a
landfill gas recovery and power generation project in China.
University of Melbourne climate futures senior research fellow Lily O'Neill described
it as "a joke" that an organisation whose core function is to dispose of waste would
spend money reducing emissions on that same activity offshore.
O'Neill said that offsetting was only valid as a last resort for emissions that could not
be avoided.
"Does anybody [at council] go out and check that these carbon credits are being
generated in the way that they say they will be?" she said.
Brisbane city council did not respond to Guardian Australia questions about what
due diligence it does on overseas offsets projects.
The Labor opposition in Brisbane, led by Jared Cassidy, has long been critical of
council's offset spending and described the Guardian investigation as a "wake-up
call".
"The only large-scale action a council can take to reduce emissions on a citywide
scale is remove organic material from landfill," he said. "You can't simply buy your
way out of it.
"If you want to make real change you start in your own back yard."
O'Neill said there were high-value offset projects that were working, including First
Nations-led emissions reductions projects.
Brisbane was among the councils that did fund some Australian-based initiatives,
including Indigenous-led savannah fire management in Arnhem Land.
But more than 90% of Brisbane city council's offset funding was spent on projects abroad.
Many other councils - including Woollahra in Sydney, Subiaco in Perth and
Moreland, Moonee Valley, Maroondah and Yarra in Melbourne - obtained 100% of
their credits from overseas-based renewable energy projects.
Queensland University of Technology's pro vice-chancellor of sustainability and
research integrity, Kerrie Wilson, also advised that local governments should be
"looking at things in their own back yard" as they strive to achieve carbon neutrality.
"That's challenging, because it requires a focus on our internal policies and our own
practices and our own behaviours rather than relying on offsetting," she said.
Wilson said QUT had invested in a solar farm in western Queensland in an effort to
achieve carbon neutrality.
"You have more oversight, transparency and assurance around the integrity if they
are projects that you can touch and feel and identify," she said.
Brisbane city council did not respond to questions about whether it was reviewing its
offset program but did say it was currently undertaking "a major food waste recycling
pilot involving 6,000 households across 30 suburbs".
A City of Sydney spokesperson said that over the past few years it had been "buying
an increasing share of high-quality local carbon offsets" and aimed to have 100%
high-quality Australian regenerative offsets by 2025.
The City of Melbourne is understood to be reviewing its past and future offsets
following The Chubb review on Carbon Offsets, which this month recommended a new integrity body be
set up for Australia's carbon credits scheme.
Yours sincerely
Peter AXTENS LLB (Retired) Stephen GOULD
Chair - NSW Digital Economy Review Cmt Chair - On-line eBusiness Cmt
SUSTAINABILITY ACTION NETWORK OPEN INTERCHANGE CONSORTIUM
B: PO Box 517 Neutral Bay Junction 2089
E: trustee.thd@gmail.com
M: {61}(4)1600-9468
HAS YOUR COUNCIL INCLUDED "BLOCKCHAIN" AS PART OF COUNCIL'S 2020-2030 PLANS ?
Members of the OIC Sustainability Action Network [SAN] thought it may be helpful to
research the impact of Climate Change issues and Carbon Credits in overseas countries
It is interesting to note that on 02 Nov 2022 the Australian Legal firm Gilbert & Tobin
published an article "Blockchain & Cryptocurrency Regulation 2023 about how Australia's
approach to Blockchain and Cryptocurrency has, in part, been driven by the Commonwealth
Government of Australia's (Government) overall approach to the financial technology
(fintech) sector and its broad support for new and innovative financial services and products"
Over the Christmas and New Year break, OIC members reviewed the 17 Expert Articles and the
31 Countries Legal submissions on the apparent impact of "Blockchain" on those Countries legal
systems
You may be interesting in reviewing these articles on behalf of your Council as it appears that
"Blockchain will be implemented in full by 2026"
OIC TZIG "Understanding Cryptocurrencies & Blockchain Technologies 2016-2023"
Yours sincerely
Peter AXTENS LLB (Retired) Stephen GOULD
Chair - NSW Digital Economy Review Cmt Chair - On-line eBusiness Cmt
SUSTAINABILITY ACTION NETWORK OPEN INTERCHANGE CONSORTIUM
B: PO Box 517 Neutral Bay Junction 2089
E: trustee.thd@gmail.com
M: {61}(4)1600-9468
BLOCKCHAIN & CRYPTOCURRENCY REGULATION 2023
Contributing Editor: Josias N. Dewey
Fifth Edition
2023
A Industry chapters - 2
B Expert Analysis chapters - 17
C Digital Edition chapter - 1
D Jurisdiction chapters - 31
CONTENTS AUTHOR COMPANY PAGE
Preface Josias N. Dewey, Holland & Knight LLP
Glossary Consensys: A Blockchain Glossary for beginners
Foreword Daniel C. Burnett, Enterprise Ethereum Alliance
A INDUSTRY CHAPTERS - 2
Aa The bumpy road forward - cryptoassets, blockchain and the continued evolution of global markets
Ron Quaranta, Wall Street Blockchain Alliance 1
Ab White House comprehensive framework on digital assets
Jason Brett & Whitney Kalmbach, Value Technology Foundation 9
B EXPERT ANALYSIS CHAPTERS - 17
Ba Blockchain and intellectual property: A case study
Ieuan G. Mahony, Brian J. Colandreo & Jacob Schneider, Holland & Knight LLP 14
Bb Cryptocurrency and other digital asset funds for U.S. investors
Gregory S. Rowland & Trevor Kiviat, Davis Polk & Wardwell LLP 30
Bc Decentralized finance:The revolution continues - current regulations & impacts of cross-chain bridgeSolutions
Angela Angelovska-Wilson, Greg Strong & Sarah Chen, DLx Law 45
Bd Legal considerations in the minting, marketing and selling of NFTs
Stuart Levi, Eytan Fisch & Alex Drylewski, Skadden, Arps, Slate, Meagher & Flom LLP 58
Be Cryptocurrency compliance and risks: A European KYC/AML perspective
Fedor Poskriakov & Christophe Cavin, Lenz & Staehelin 77
Bf The regulation of stablecoins in the United States
Douglas Landy, James Kong & Stephen Hogan Mitchell, White & Case LLP 94
Bg A day late and a digital dollar short: Central bank digital currencies
Richard B. Levin & Kevin R. Tran, Nelson Mullins Riley & Scarborough LLP 108
Bh A custodial analysis of staking
D Lopez, B Hammer & K Witchger, Cleary Gottlieb Steen & Hamilton LLP 122
Bi Trends in the derivatives market and how recent fintech developments are reshaping this space
J Gilmour, V Kalijnikoff Battaglia & T Purkiss, Travers Smith LLP 135
Bj Tracing and recovering cryptoassets: A UK perspective
Jane Colston, Jessica Lee & Yeva Agayan, Brown Rudnick LLP 145
Bk Blockchain taxation in the United States
David L. Forst & Sean P. McElroy, Fenwick & West LLP 158
Bl Crypto M&A: Current trends and unique legal and regulatory considerations
Dario de Martino & Mara Goodman, Allen & Overy LLP 167
Bm U.S. sanctions and cryptocurrency: Recent developments and compliance considerations
R J. Gonzalez & J S. Carey, Paul, Weiss, Rifkind, Wharton & Garrison LLP 184
Bn The law of the metaverse
Violetta Kokolus, Joshua Jackson & Jonathan Iwry, Ropes & Gray LLP 193
Bo The emergence of DAOs: From legal structuring to dispute resolution
Alexandru Stanescu & Tudor Velea, SLV Legal 204
Bp Blockchain-driven decentralisation, disaggregation, and distribution -industry perspectives
Marcus Bagnall, Nicholas Crossland & Ben Towell, Wiggin LLP 219
C DIGITAL EDITION CHAPTER - 1
Ca Morphing: A (labour of) love story… OR token morphing isn't dead
Joshua Ashley Klayman, Linklaters LLP
Angela Dalton, Signum Growth Capital 237
D JURISDICTION CHAPTERS - 31
Da Andorra JM Alfín Martín-Gamero, M P Laporta & D D Custodio, Fintax Andorra 240
Db Australia Peter Reeves, Robert O'Grady & Emily Shen, Gilbert + Tobin 252
Dc Austria U Rath, T Kulnigg & D Tyrybon, Schönherr Rechtsanwälte GmbH 265
Dd Bahamas Aliya Allen, Graham Thompson 273
De Bermuda S Rees Davies, C Ball & A Fox, Carey Olsen Bermuda Limited 281
Df Brazil Luiz Felipe Maia & Flavio Augusto Picchi, Maia Yoshiyasu Advogados 293
Dg Bulgaria Ivan Nikolaev, Danail Petrov & Tihomir Todorov, Nikolaev and Partners Law Firm 308
Dh Canada A d'Anglejan-Chatillon, R K. Grewal & É Lévesque, Stikeman Elliott LLP 318
Di Cayman Islands Alistair Russell, Chris Duncan & Jenna Willis, Carey Olsen 329
Dj Cyprus Akis Papakyriacou, Akis Papakyriacou LLC 337
Dk France William O'Rorke & Alexandre Lourimi, ORWL Avocats 346
Dl Gibraltar Jonathan Garcia, Jake Collado & Joey Garcia, ISOLAS LLP 357
Dm Hong Kong Gaven Cheong, Tiang & Partners
Peter B. Brewin & Adrian A. Clevenot, PwC Hong Kong 367
Dn India Nishchal Anand, Pranay Agrawala & Dhrupad Das, Panda Law 378
Do Ireland Keith Waine, Karen Jennings & David Lawless, Dillon Eustace LLP 391
Dp Italy Massimo Donna & Ferdinando Matteo Vella, Paradigma - Law & Strategy 402
Dq Japan T Nagase, T Tanaka & T Fukui, Anderson M?ri & Tomotsune 410
Dr Luxembourg J Pascual, B Elslander & C Petit, Eversheds Sutherland LLP 421
Ds Mexico C Valderrama, A P R Chamorro & A S A Betancourt, Legal Paradox® 434
Dt Netherlands Robbert Santifort, Ilham Ezzamouri & Natalia Toeajeva, Eversheds Sutherland 442
Du Norway Ole Andenæs, Snorre Nordmo & Stina Tveiten, Wikborg Rein Advokatfirma AS 456
Du Portugal F L Marques, M Albuquerque & D Veríssimo M, GTeles, da Silva & Associados471
Dw Romania Sergiu-Traian Vasilescu & Luca Dejan, VD Law Group
Flavius Jakubowicz, JASILL Accounting & Business 482
Dx Singapore Kenneth Pereire & Lin YingXin, KGP Legal LLC 494
Dy Spain A Aliño, O López-Ibor Jaume & A A S Röhl, López-Ibor Abogados, S.L.P 504
Dz Switzerland D Haeberli, S Oesterhelt & Ar Wherlock, Homburger 513
D1 Taiwan Robin Chang & Eddie Hsiung, Lee and Li, Attorneys-at-Law 528
D2 Thailand Jason Corbett & Don Sornumpol, Silk Legal Co., Ltd 535
D3 Turkey/Türkiye Alper Onar & Emre Suba, Aksan Law Firm 540
D4 United Kingdom C Kerrigan, E Federis & A Burdzy, CMS Cameron McKenna Nabarro Olswang LLP 554
D5 USA Josias N. Dewey & Samir Patel, Holland & Knight LLP 569
2023/01/14 GLI Australian "Blockchain & Cryptocurrency Legal Regulation 2023"
2019-2022 COVID-19 pandemic: NSW report to 30 Dec 2022 in past 7 days, 27,655 new cases and 32 deaths
2019/06/26 Submission to Inner West Council for Blockchain Waste Management Joint-Venture
2019/04/09 CSIRO-Dara61/ACS Apr 2019 "Blockchain 2030 - A Look at the Future of Blockchain in Australia"
2018/04/10 UNDP - Cryptocurrency for Volunteers - Project Management Resources for project 5.3
2018/03/27 UNDP - EWB link ICT project 5.3 schools with limited electricity in Zambia
2018/03/21 UNDP - Please identify the "Development Challenges" for UNDP in Zambia
2018/03/07 UNDP - Update proposed RUBAC Cryptocurrency project for UNDP Projects
2018/02/28 Prime Minister - NZ leads the way on eAddress Standard in 2017 - problems with legacy 2002-2017 ?
2018/02/19 Prime Minister - Free Trade Agreements [FTA] so like the Treaty of Waitangi - are they in the Public Interest ?
2018/01/31 UNDP - away in New Zealand for 2 weeks - skype meeting in early Mar 2018
2018/01/26 Councillors - NZ Councils with Community Board members could be leading the way with RUBACs for Volunteers
2018/01/16 Councillors - On-line Council Committee Papers & Cryptocurrencies
2017/12/18 UNDP - need for uniform laws with eCredits process - can the UN develop them ?
2017/12/12 UNDP - Proposed RUBAC project partnership plan with UNDP Zambia
2017/11/30 RSLs - Can you assist Councils create a local Volunteer Cryptocurrency - RUBACs ?
2017/11/17 Chambers of Commerce - How many Councils use a Volunteer Management Scheme ?
2017/11/07 Chambers of Commerce - can your Council help promote your members through On-line Council papers ?
2017/10/24 Councils be aware - “Blockchain” to add Public cost not improve distribution ?
2017/10/10 "Blockchain" and the $ Multi-Million Diamond Heists - are they connected ?
2017/09/22 "Bitcoin" may have to be viewed as speculative while "Blockchain" is here to stay
2017/09/15 Is Gold Dealer trading in Bitcoin linked to the Energy Crises ?
2017/08/21 Aus Energy Trader - the First Australian "Cryptocurrency & Blockchain" ICO
2017/07/28 Additional Research on "Cryptocurrencies like Bitcoin & Blockchain" Technologies
2017/06/30 Further Research into Potential of 'Bitcoin & Blockchain' Technologies
2017/06/05 Diamonds, the 1874 UPC and the impact in 2014 of ‘Blockchain’ on the Diamond market
2017/05/29 'Bitcoin' apparently 1 of 830 'alt-coins' - is Silicon Valley leading the deception ?
2017/05/22 Feedback on 'Student Debt' & 'Blockchain' issues
2017/05/08 Student Debt - Melbourne University to test 'Blockchain' to record student credentials
2016/11/07 ADHA eHealth - Further Articles 'For' and 'Against' Blockchain Technologies
2016/10/24 ADHA eHealth - 'Health Information Security' issues and concerns with new "Blockchain" Technologies
NEWSLETTERS TO PPWC, SAN MEMBERS, OIC MEMBERS & CONTACTS 2020-2022
08 Dec 2022 Councillors - articles on Power issues, Cryptocurrencies & Climate Change - are they related ?
10 Nov 2022 Councillors - impact of 1066 French invasion on current Local Government processes
17 Oct 2022 Councillors - understanding the impact of Climate Change Policies overseas
12 Sep 2022 Councillor - Transparency with Local Government Elections - is it transparent ?
10 Aug 2022 Local Government Act 2020 has changed the way Councils inform their Rate-payers
11 Jul 2022 Are banks encouraging the use of cryptcurrencies eg ANZ ?
03 Jun 2022 Many Councils have Electricity as highest source of Greenhouse Gas emissions
28 Apr 2022 Local Government & the Emissions Reduction Fund [ERF] - Projects that earn Councils Carbon Credits
31 Mar 2022 Rate-payers be aware 5 articles in AFR Thu 24 Mar 2022 re Carbon Credits & Cryptocurrencies
15 Dec 2021 Zali - can you find "GovDex" user list on Government Websites ?
22 Nov 2021 Zali - Review recent articles by Senator Matt CANAVAN, Pata CREDLIN & Rupert MURDOCH
29 Oct 2021 Microsoft - "Public Interest" people who own/rent properties are ratepayers - 5 Carbon Trust Standards
12 Oct 2021 Microsoft - request speedy arbitration for email account that has been disabled
10 Sep 2021 Zali - Issues discussed Thu 09 Sep 2021 including The Carbon Trust & The Gold Standard locations
09 Sep 2021 Zali - Examples UK 2006 business KPIs - suitable for Aus councils 2025 ?
23 Aug 2021 Vic IRT - Consent to publish Submission Vic Local Gov allowances for Mayors, Deputy Mayors & Councillors
18 Aug 2021 Zali - Private Member's Bill re Council KPIs to offset COVID-19 costs, Waste Mgt & Climate Change issues ?
16 Aug 2021 Vic IRT - Submission Vic Local Gov allowances for Mayors, Deputy Mayors & Councillors
11 Aug 2021 Zali - NZ Councils Volunteer Community Boards & Nth Sydney Volunteer Precincts
14 Jul 2021 Zali - 2014 Report Volunteer Time over $ 25 Billion per annum - will help pay off COVID-19 Debts !
15 Jun 2021 Zali STEGGALL OAM MP - Can Volunteer Time System help pay off COVID-19 Debts ?
18 Mar 2021 Peter FITZSIMONS - ARM is 2025 the year for Household Carbon Credit Levies ?
18 Feb 2021 Peter FITZSIMONS - ARM Using legislation to keep Carbon Credits in Australia
14 Jan 2021 Peter FITZSIMONS - please corroborate Research on Council Carbon Credit Offset schemes
2020
08 Dec 2020 Why RSLs members could be interested in Council Carbon Credit Offset Schemes
16 Nov 2020 Public Interest - Clare reply to question re NZ Councils' Landfill Carbon Credits budget shortfalls
Nov Public Interest - Aus Councils' carbon credit strategies based on 2011 Aus Federal Legislation
19 Oct 2020 - Andrew tks response re Logan City Council "waste-to-energy" Initiative
Oct Public Interest - "some Councils have been purchasing Carbon Credits since 2008"
Sep Public Interest cf "Junk Mail"-"Public Officials have over-arching obligation to act in Public Interest"
Aug "Hull Coin" Clr - 2007-2009 Record of Aus Council implementing Carbon Credits
Jul Councillor - Thank you for email - Tax-payer & Rate-payer issues of concern
Jun Questions received re Council's Greenhouse Gas 18-yr Strategy 2018-2028
Jun History of Council's Greenhouse Gas 18-yr Strategy 2018-2028
May History of Carbon Credit implementations in NSW 2007-2010
Apr History of meetings and submissions to IWC since Jul 2019
I Other Inner West Council Documents that are part of the CSP2036
a Strategies
b Plans
c Statements
r Research References
a Strategies
Is1 Resourcing Strategy [ReS] 2018-2028 Adopted Jun 2018- PDF File
Is2 Climate + Renewables Strategy [CRS] - draft On-line
Is3 Employment and Retail Lands Strategy [EaRLS] - PDF File
Is4 Housing Strategy [HS] - PDF File
Is5 Integrated Transport Strategy [ITS] Adopted 03 Mar 2020 - PDF File
Is6 Asset Management Strategy [AMS]2018-28 Adopted Jun 2018 - PDF File
Is7 Workforce Management Strategy [WMS] 2018-22 Adopted Jun 2018 - PDF File
Is8 Information and Communication Technology [ICT] Strategy 2018-2022 Adopted Jun 2018 - PDF File
b Plans
Ip1 Community Strategic Plan [CSP] 2036 Endorsed Jun 2019 - On-line
Ip2 Economic Strategic Development Plan [EDSP] draft - On-line
Ip3 Long Term Financial Plan 2019-2029 Adopted Jun 2019 - PDF File
c Statements
It1 Local Planning Statement [LPS]
r References
R6 2019-01-19 Adelaide Advertiser: Compensation paid to Slave Owners 1835 - 2015 (180 yrs)
R5 2003-2014 Value of Volunteers to Australian State Economies
R4 2014-11-07 IBM "Blockchain" solution for the Diamond Industry Video
R3 1997 Lessons from a Dozen Years of Group Support Systems Research - 4,000 IBM projects
R2 Sir Evelyn de Rothschild - Director De Beers 1977-1994 & IBM UK 1972-1995
R1 1987-04-23 RUBAC Automatic eProcess Synchronisation Video
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