Once your project is declared an eligible offsets project, you must carry out your project, estimate abatement, and comply with the monitoring, record-keeping and reporting requirements according to the rules and instructions set out in the methodology determination for your project. You must also comply with the general reporting and notification requirements in the Carbon Credits (Carbon Farming Initiative) Act 2011.
An audit report is the primary means by which the Clean Energy Regulator determines whether an eligible offsets project is on track and whether any management action needs to be taken.
The Clean Energy Regulator can use the report to:
- determine in conjunction with an audit report whether or not to issue Australian carbon credit units
- confirm emissions and removals over the reporting period, and
- determine whether the project should continue or be revoked.
You may apply to the Clean Energy Regulator to vary the declaration of an eligible offsets project.
You are required to notify the Clean Energy Regulator in certain circumstances or if certain events occur. Read the information about notifying the Clean Energy Regulator if circumstances change.
To apply for ACCUs, you must submit an application for a Certificate of Entitlement, along with a project offsets report and an audit report. Read the information on crediting to find out more information.
For more information