The Minister for Climate Change and Energy has revoked the avoided deforestation method under the Australian Carbon Credit Unit Scheme.
This implements a recommendation of the Independent Review of Australian Carbon Credit Units (ACCUs), and will help reinforce confidence in the integrity and effectiveness of the scheme.
Methods set out the rules for conducting projects and estimating emissions reductions under the scheme.
Projects under the avoided deforestation method avoid greenhouse gas emissions by protecting native forests that would otherwise be cleared for agricultural purposes, under pre-existing approvals.
The Review found there were questions about whether any new projects that might be registered under the method would deliver emissions reductions that wouldn’t have otherwise occurred.
The Review recommended no new project registrations be allowed under the current avoided deforestation method.
The revocation of the avoided deforestation method means no new projects can be registered under the method. The revocation will not affect projects already registered.
The government is working with stakeholders on implementation of ACCU Review recommendations, including on the potential for developing any new methods.