Carbon Credits (Carbon Farming Initiative) Act 2011 the CFI Act) requires the Clean Energy Regulator to publish quarterly reports about the number of Australian carbon credit units (ACCUs) it has issued (s 161). Regular and accurate information about the supply of different kinds of ACCUs can facilitate the establishment of the market, including in relation to price discovery.
Each ACCU represents at least one tonne of carbon dioxide equivalents (CO2-e). ACCUs may be issued for eligible offsets projects that avoid or reduce greenhouse gas emissions to the atmosphere as well as those that store carbon from the atmosphere in vegetation, dead organic matter and soil.
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.
1 from scheme commencement, 8 December 2011.
For more information about ACCUs see
types of units.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.