A licence to exploit? Integrating the Paris Agreement’s non-market approaches into mining lease regulations in New South Wales

After years of hard-fought advocacy, Article 6(8) of the Paris Agreement was drafted to provide voluntary non-market approaches to aid the abatement of greenhouse gases. Despite ratifying the Agreement, Australia continues to disregard non-market approaches due to their limited commercial benefit. With the 2030 emission reduction target fast approaching, it is crucial that Australian jurisdictions reconsider the benefit of these approaches in reducing greenhouse gases. Central to this issue is the mining industry, which continues to emit excessive amounts of greenhouse gases. While phasing out mining is not a feasible short-term solution, reducing emissions is the next best alternative. Accordingly, this article consolidates domestic and international law to develop a framework that allows New South Wales to integrate non-market approaches into mining lease regulations and reduce emissions. Ultimately, the implementation of non-market approaches will create a holistic strategy that bridges the gap between mining and greenhouse gas abatement.