New Aussie Carbon Neutral Certification Rules

Energy Minister Angus Taylor has announced that from July 1st 2023, Climate Active carbon neutral certifications with annual emissions equal to or greater than 1,000 tonnes of CO₂-e will be required to use ACCUs to meet at least 20% of their certification. By July 1st 2024, this 20% ACCU requirement will be extended to all Climate Active participants regardless of their emissions volume. This news accompanies an update that the Australian Carbon Exchange (ACX) is expected to launch in 2023, allowing a much broader range of buyers and sellers to participate in the Australian carbon market. Currently, demand for ACCUs outstrips supply leading to record prices for domestic carbon credits. The Government hopes to attract new suppliers by introducing deregulation measures that will effectively decrease the time taken to develop new ERF methods and issue new ACCUs. “Development of an online carbon exchange will support Australian industry by increasing market transparency including pricing, lowering transaction costs and reducing red tape.”