Strengthening Free, Prior and Informed Consent in Australia’s Carbon Market

First Nations Economics has submitted a response to the proposed updates to the Australian Carbon Industry Code of Conduct, advocating for stronger and more consistent application of Free, Prior and Informed Consent (FPIC) across carbon projects. The submission highlights the importance of moving beyond consultation towards genuine shared decision-making, ensuring that First Nations communities have meaningful influence over projects that affect their Country, culture and economic futures.

Drawing on extensive experience supporting Traditional Owners, Aboriginal organisations, governments and project proponents, the submission outlines practical recommendations to strengthen engagement standards, improve governance, enhance market integrity and build greater confidence for communities, industry and investors alike.

Read the submission here

Gurminder Saro

Interim Chair

Associate Professor Rick Macourt is a proud, queer Gumbaynggirr man, lawyer, and economic specialist. He leads First Nations Economics as Managing Director of Strategy and Foundation and serves as Associate Dean of First Nations Strategy and Services at the University of Sydney.

With over 15 years of experience spanning government, corporate, and not-for-profit sectors, Rick is deeply committed to advancing the economic development of First Peoples. As the former Director of First Nations Expenditure and Outcomes at NSW Treasury, he spearheaded the state’s inaugural Indigenous expenditure reporting processes and established the groundbreaking First Nations budget process in 2021/22. Previously, Rick held an executive role at the Westpac Group, overseeing First Nations affairs, and has a rich history in government, monitoring, evaluation, and negotiation, with senior positions at the Department of Foreign Affairs and Trade, City of Sydney, and Standards Australia.

Rick is a published author with Oxford University Press, a member of the First Nations Advisory Board of Siemens Australia, and a Non-Executive Director on the board of Barnardos Australia.