The Australian Carbon Market was established with the introduction of the Carbon Credits (Carbon Farming Initiative) Act 2011 (CFI Act 2011). As part of Australia's commitment to addressing climate change, this voluntary carbon offsets scheme provides financial incentives for landholders to alter management strategies to store carbon or reduce greenhouse gas emissions.
The CFI Act was amended to include the Emission Reduction Fund (ERF) and the Safeguard Mechanism (CFI Act Amended 2014).
Agriculture
Vegetation
Savanna burning
COP 21 is held in Paris on the 12 December 2015. 195 Parties sign the Paris Agreement, committing to keeping the rise in mean global temperature to well below 2°C and optimally below 1.5°C above pre-industrial levels.
Agriculture
Vegetation
Savanna fire
Agriculture
Vegetation
For interests of space, only land sector methods are shown.
Agriculture
Vegetation
Savanna burning
Agriculture
Vegetation
Agriculture
Savanna fire
Agriculture
Carbon projects reduce emissions and sequester carbon dioxide from the atmosphere and create direct, measurable positive impacts on the environment.
Vegetation projects are the main project type in Australia, protecting forests and reforesting degraded landscapes providing positive biodiversity, water quality and social outcomes.
Establishing a carbon project allows for the option of long term contracts for the sale of carbon credits through the government’s Emissions Reduction Fund (ERF) or to private industry.
Australian Carbon Credit Units (ACCUs) are a financial product under the Corporations Act.
An ACCU represents 1 tonne of CO2 equivalent emissions (tCO2e) being offset.
Long term forward contracts for ACCUs are the primary purchasing method (currently almost solely by Government), with spot trading to private companies growing rapidly.
ACCU holdings are held in the Australian National Registry of Emissions Units (ANREU).
Carbon projects reduce emissions and sequester carbon dioxide from the atmosphere and create direct, measurable positive impacts on the environment.