2023
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About this response
Recognising the importance of Australia’s carbon crediting scheme in reaching Australia’s emission reduction targets, in July 2022 the Government appointed an independent panel to review the integrity of Australian Carbon Credit Units (ACCUs).
The independent panel was comprised of Professor Ian Chubb AC (Chair), the Hon Dr Annabelle Bennett AC SC, Ms Ariadne Gorring and Dr Steve Hatfield-Dodds.
In developing their report, the Panel considered over 200 written public submissions and consulted widely across stakeholders involved in or with an interest in the ACCU scheme.
The Panel also visited project sites to investigate methods and project implementation and commissioned expert scientific advice to assess the strengths, limitations and the science underpinning methods.
The Panel concluded that the ACCU scheme arrangements are essentially sound, incorporating mechanisms for regular review and improvement, and recommended a number of changes to clarify governance, improve transparency, facilitate positive project outcomes and co-benefits, and enhance confidence in the integrity and effectiveness of the scheme.
The Australian Government welcomes the Final Report of the Independent Review of ACCUs. The Government accepts all of the Panel’s recommendations in principle. Recognising that these reforms will have implications for a wide range of market participants, government agencies, and other stakeholders, the Government will now work with stakeholders on implementation, including any associated legislative amendments.
Further information
Independent Review of Australian Carbon Credit Units
Fact Sheet: Independent Review of Australian Carbon Credit Units (PDF 182 KB)
Independent Review of Australian Carbon Credit Units (DOCX 183 KB)
Fact sheet: Independent Review of Australian Carbon Credit Units - carbon market basics (PDF 288 KB)
Independent Review of Australian Carbon Credit Units - carbon market basics (DOCX 350 KB)