Australia’s Climate Change Authority recently suggested Australia establish a transparent national carbon market and hint at integrating voluntary and compliance carbon markets.
Under the new Labor government, the country has set a goal to cut carbon emissions by 43% below 2005 levels by 2030, significantly more ambitious than the opposition’s target of a 26% – 28% reduction over the same period.
The policy change brings businesses in the country both risks and opportunities as countries across the globe march toward net zero by 2050.
The Australian Carbon Credit Units (ACCUs) scheme is one method used by Australian businesses to cut their emissions. They can acquire ACCUs to offset their emissions by planting new trees or purchasing them on the secondary market.
One ACCU is the equivalent of one tonne of CO2 or its equivalent that a project avoided or reduced.
