The Clean Energy Regulator has this week issued the 20 millionth Australian carbon credit unit (ACCU) since their introduction in 2011.
Each ACCU represents one tonne of carbon dioxide equivalent (tCO2-e) that has been stored or avoided by a project registered under the Emissions Reduction Fund or its predecessor the Carbon Farming Initiative.
ACCUs have been issued across the Australian economy, with projectsin all states contributing to the reduction of Australia’s emissions.
“During 2012, the first full calendar year of the Carbon Farming Initiative , the Clean Energy Regulator issued only 350,000 ACCUS. In comparison, in 2015 under the Emissions Reduction Fund, nearly eight million ACCUs were issued,” said Chloe Munro, Chair of the Clean Energy Regulator.
“Reaching this milestone shows the Emissions Reduction Fund is accelerating carbon abatement in Australia.”
“Australian businesses, councils, communities and Indigenous groups have embraced the opportunities available under the Emissions Reduction Fund.”
There are many options for businesses to sell their ACCUs, including being sold to the Commonwealth under a carbon abatement contract when a participant is successful at an Emissions Reduction Fund auction.
The recipient of the 20 millionth ACCU is EDL LFG, which runs a series of landfill gas projects in the ACT, Queensland, New South Wales and Victoria. This week, the company’s projects were issued more than half a million ACCUs. Additionally, a number of vegetation and regeneration projects were also issued ACCUs this week.
EDL has 11 landfill gas to energy projects registered in the Emissions Reduction Fund. These projects capture and destroy waste methane generated by organic waste in landfills and convert that waste into renewable energy.
“The Clean Energy Regulator congratulates EDL on their long standing commitment to reducing Australia’s greenhouse gas emissions. We encourage all businesses and community groups to explore the options for participating in the scheme,” Ms Munro said.
The third Emissions Reduction Fund auction will be held on 27 and 28 April.
Please read Want to participate in the Emissions Reduction Fund for more information.
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