The Australian Government has released its response to the Climate Change Authority’s 2023 and 2020 Reviews of the Carbon Credits (Carbon Farming Initiative) Act 2011, which establishes the Australian Carbon Credit Units Scheme (ACCU Scheme).
The response highlights the government’s commitment to ensuring the ACCU Scheme maintains high integrity and delivers real emissions reductions.
The response welcomes the findings of the 2023 Review, which found that the ACCU Scheme is fundamentally well designed. The Scheme has robust governance, compliance and enforcement structures to support integrity. The Climate Change Authority (the Authority) recognised the Scheme’s role in supporting the transition to net zero emissions.
The Authority made 15 recommendations to further enhance the Scheme. The response:
- agrees to 3 recommendations and
- agrees in principle to 12 recommendations.
Aspects of 12 of the 15 recommendations align strongly with the Independent Review of ACCUs (the ACCU Review). These are already being implemented or under development. Implementation of the remaining 3 recommendations will be considered as part of ongoing improvements to the ACCU Scheme.
Attached to the 2023 response is the response to the 2020 Review. It notes that many of the issues raised have been addressed through the government’s Powering Australia plan. This includes implementation of the ACCU Review.
Read the full government response on our website.
