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Carbon Credits (Carbon Farming Initiative) Act

Australia Current 2011

The objective of the Act is to remove greenhouse gases (GHGs) from the atmosphere and avoid emissions of GHGs through incentives for GHG offsetting projects and increase carbon abatement.

Government ministry

Environment

More information

The first objective of the Act is to remove greenhouse gases (GHGs) from the atmosphere and avoid emissions of GHGs, in order to meet Australia’s obligations under any or all of the following: (a) the Climate Change Convention / UNFCCC; (b) the Kyoto Protocol; (c) an international agreement that is the successor (whether immediate or otherwise) to the Kyoto Protocol (i.e. the 2015 Paris Agreement). The second objective of the Act is to create incentives for GHG offsetting projects. Its third objective is to increase carbon abatement in a manner that: (a) is consistent with the protection of Australia’s natural environment; and (b) improves resilience to the effects of climate change. Its fourth objective is to authorise the purchase by government of carbon abatement units.

Organizations covered by the instrument

All Companies

Target organization notes

Targets farmers and land managers

Disclosure venue

environmentally responsible actions

ESG coverage - E (Environment)

Climate & GHG emissions, Land Use & Forests, Environmental Compliance & Risk

ESG coverage- S (Social)

Human Rights, Product & Services Responsibility

ESG coverage- G (Governance)

Structure & Leadership, Accountability, Anti-Corruption and Anti-Competitive Behaviour, Stakeholder Engagement

ESG coverage- Eco (Economic & General)

Economic performance, Indirect economic impacts, Trade and Investment, Procurement and Supply Chain Management

Status

Current

Country

Australia

Region

Asia Pacific

Date of publication

2011

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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