Introduction
The Carbon Farming Initiative (CFI),
Australia's domestic carbon offset scheme has had a slow start
with the necessary mechanics for generating Australian Carbon
Credit Units (ACCUs) not yet available,
notwithstanding that the scheme formally commenced on 8 December
2011. However, steps are moving in the right direction, with
another set of regulations having just been released by the
Government for comment.
The exposure draft Carbon Credits (Carbon Farming Initiative)
Amendment Regulation 2012 (Amendment Regulations)
will amend the existing Carbon Credits (Carbon Farming Initiative)
Regulations 2011 (see publication -
Carbon Farming Initiative open for business), and cover such
procedures as preparation of audit reports and applying for a
certificate of entitlement (which is the precursor to receipt of
ACCUs). This legal update provides an overview of key aspects of
the Amendment Regulations. For an overview of the CFI, please refer
to the Carbon
