Carbon abatement: government spends another $557m to buy 45m tonnes

Second round of auctions under Direct Action scheme means government has spent almost half the $2.55bn emissions reduction fund

The Turnbull government has bought another 45m tonnes of carbon abatement for $557m, but analysts say its Direct Action policy cannot reduce Australia's greenhouse emissions or meet the promised long-term targets.

The government has now spent almost half its $2.55bn emissions reduction fund to buy less than half of the greenhouse reductions needed to meet its 2020 target.