The Infrastructure and Transport Ministers’ Meeting published a Policy on the application of National Carbon Values by jurisdictions in the assessment of business cases for transport infrastructure. The policy states that enabled and upfront embodied greenhouse gas emissions should be considered in option selection and cost benefit analyses using National Carbon Values (or higher) for all transport infrastructure projects – and where appropriate programs – over $100 million of funding from state, territory and/or Commonwealth funding. 

The Australian Government’s policy on applying National Carbon Values (NCVs) aims to ensure consistent and effective valuation of carbon emissions across infrastructure projects, particularly those over $100 million. Jurisdictions are encouraged to use NCVs for new project proposals, with the goal of all jurisdictions adopting them by 1 January 2025. This policy is part of Australia’s broader efforts to achieve net zero emissions by 2050 and reduce emissions by 43% below 2005 levels by 2030.