On Friday 1 July 2022, the Minister for Climate Change and Energy announced Terms of Reference for the Independent Review of Australian Carbon Credit Units. The review report is expected by 31 December 2022.
As part of this review, the independent panel will evaluate and advise on the requirements for use of Australian Carbon Credit Units (ACCUs) under Climate Active.
As you are aware, currently under Climate Active, all carbon neutral certifications must use a minimum of 20% ACCUs, with this requirement due to take effect:
from 1 July 2023 for new and ongoing certifications equal to or greater than 1,000 tonnes of CO2-e; and
from 1 July 2024 for certifications less than 1,000 tonnes of CO2-e.
The independent panel’s recommendations will inform a decision by the Minister on this requirement moving forward.