Exposure Draft Carbon Credits (Carbon Farming Initiative) Amendment Rule 2015

Closed 19 Jun 2015

Opened 19 Jun 2015

Overview

The climate change function transferred to our department from the Department of the Environment and Energy on 1 February 2020.

The passage of the Carbon Farming Initiative Amendment Bill 2014 (the Bill), meant that some of the provisions in the Carbon Credits (Carbon Farming Initiative) Regulations 2011 were out of date. In February 2015 the Government made a new set of rules to support the operation of the Emissions Reduction Fund: the Carbon Credits (Carbon Farming Initiative) Rule 2015 (the Rules). These Rules contain provisions necessary to support the first and subsequent Emissions Reduction Fund auctions.

The Department of the Environment sought views on further sections to be included in the Rules, as detailed in the Exposure Draft Carbon Credits (Carbon Farming Initiative) Amendment Rule 2015 (the amendment Rule). These sections are primarily based on former regulations that are being transitioned to the amendment Rule, and include updates to terminology and references, streamlining provisions, provisions associated with determining the market value of Australian Carbon Credit Units, and variation of declaration of eligible offsets projects.

Consultation on the amendment Rule closed on 19 June 2015.

Audiences

  • Emissions Reduction Fund

Interests

  • Climate Change
  • Emissions Reduction Fund