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Proposals open for ACCU scheme

ACCU scheme

The Federal Government is seeking proposals for new Australian Carbon Credit Unit (ACCU) scheme methods as part of a process.

This will see ACCU scheme methods developed outside of government, with any submission welcome to highlight a method proposal for carbon abatement that would be achieved by avoiding emissions.

The independent Emissions Reduction Assurance Committee will assess all proposals for new methods and advise the government on which proposals should be prioritised.

“We’re bolstering the integrity of Australia’s carbon crediting scheme and delivering on recommendations from the independent Chubb Review,” Minister for Climate Change and Energy Chris Bowen said.

“Public confidence in the integrity of ACCUs is critical to the success of Australia’s carbon market and this calls for a more inclusive and transparent process for method development.

“The proponent-led model aims to encourage more innovative approaches to carbon abatement and will help to boost the supply of ACCUs to support our net zero ambition.”

The ACCU Scheme supports progress towards Australia’s targets of 43 per cent emissions reduction by 2030 and net zero by 2050.

The 2024–25 Budget invested $48 million to continue essential reforms to the scheme, including to implement the new proponent-led process.

This includes $12.2 million to support First Nations peoples participate in upfront consent negotiations for ACCU projects.

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