The Carbon Market Institute (CMI) has welcomed the Australian Government's announcement of two new Savanna Fire Management (SFM) methods under the Australian Carbon Credit Unit (ACCU) Scheme, aiming to scale Indigenous-led climate action, support regional economies, and strengthen Australia's carbon market. These projects utilize traditional early dry season "cool burning" practices to reduce emissions, improve ecosystem health, and support Indigenous communities, potentially unlocking $7.7 billion in economic value across northern Australia. CMI emphasizes the importance of managing market impacts and ensuring long-term demand certainty for savanna fire management credits, while also highlighting the significance of the voluntary carbon market, particularly through Climate Active, in delivering climate abatement, Indigenous employment, and regional economic benefits. Clarity on the future of voluntary demand frameworks is crucial for ensuring the continuation of these projects.
Author: Carbonmarketinstitute
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Renewed government commitment to ACCU Scheme reforms welcomed, focus now must turn to delivery, scalability and investment certainty
The Department of Climate Change released a progress report on the ACCU Scheme reforms, focusing on governance, transparency, and integrity. The Carbon Market Institute supports the government's commitment to reform and emphasizes the need for clear implementation plans with timelines. Ongoing systemic issues, such as scalable methods for industry participation and carbon abatement, require urgent attention. The ACCU Review implementation is crucial for improving Australia's carbon crediting mechanism and supporting at-source decarbonization policies. The CMI looks forward to further progress on the implementation of recommendations.