Carbon Credits (Carbon Farming Initiative) Act 2011 (the CFI Act) requires the Clean Energy Regulator to publish quarterly reports about the number and characteristics of Australian carbon credit units (ACCUs) it has issued (s 161). Regular and accurate information to the market about the supply of different kinds of ACCUs can facilitate price discovery.
Each ACCU represents one tonne of carbon dioxide equivalents (CO2-e). ACCUs may be issued for eligible activities that avoid or reduce greenhouse gas emissions to the atmosphere as well as for eligible activities that store carbon from the atmosphere in vegetation, dead organic matter and soil. These are known as eligible offsets projects.
ACCUs may be either a Kyoto Australian carbon credit unit or a non-Kyoto Australian carbon credit unit, according to international accounting rules, known as Kyoto Rules, for different types of offset projects.
The CFI Act began operations on 8 December 2011. Formal consideration of applications commenced on 6 January 2012 as required by s60(2) of the CFI Act.
This report for Q3 of 2012 provides information for the time period of 1 January 2012 to 31 March 2012.
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