Implement priority reforms to the operation of the Australian Carbon Credit Unit (ACCU) scheme as part of the Government's initial response to the Independent Review of Australian Carbon Credit Units.
The Government will provide $18.1 million over two years from 2023-24 to implement priority reforms to the operation of the Australian Carbon Credit Unit (ACCU) scheme as part of the Government's initial response to the Independent Review of Australian Carbon Credit Units. Funding includes:
* $5.9 million over two years from 2023-24 to conduct audits of human induced regeneration projects
* $4.5 million over two years from 2023-24 to upgrade the Clean Energy Regulator's systems to publish carbon estimation area data
* $4.2 million over two years from 2023-24 to consult on the design of proposed reforms
* $3.5 million over two years from 2023-24 to establish the Carbon Abatement Integrity Committee to ensure method integrity for ACCUs. The Government has also transferred functions relating to method development activities for ACCUs from the Clean Energy Regulator to the Department of Climate Change, Energy, the Environment and Water. The cost of this measure will be partially met from savings identified in the 2023-24 Budget measure titled Climate Change, Energy, the Environment and Water - reprioritisation. Climate Change, Energy, the Environment and Water |