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1 July 2022

Farmers welcome review into integrity of carbon credits

Farmers for Climate Action has welcomed the Federal Government’s Independent Review of Australian Carbon Credit Units.

“Farmers for Climate Action had called for this review and we’re pleased the Government has taken action,” Farmers for Climate Action CEO Dr Fiona Davis said.

“If the carbon market were to crash because the integrity of the credits was crushed and buyers stopped buying, it would be farmers who would be on the chopping block, not bureaucrats. Farmers carry the risk and they deserve integrity and transparency. ” Dr Davis said.

“We’re particularly pleased the Terms of Reference gives the review scope to investigate ‘Any other matters the panel considers relevant to the integrity of ACCUs’. A genuine review will look at the entire system, including the role of the Clean Energy Regulator in overseeing the integrity of Australia’s carbon credits.

“The Terms of Reference appear well-written, covering other relevant issues including how the reporting and publication of data could be improved; whether the scheme’s settings ensure good governance, whether certain methods are authentic and meet integrity standards and the extent to which current projects support environmental and biodiversity outcomes as well as the participation of First Nations people.

“Carbon projects can have a very positive impact on agricultural productivity, because planting shelterbelts increases pasture and cattle growth: animals with access to shade and shelter spend less energy warming and cooling themselves, and a shelterbelt carbon crop can provide steady income even during drought.

“We welcome the appointment of former Chief Scientist Professor Ian Chubb as Chair.

“Carbon offsets are a huge opportunity for farmers to diversify into drought-resistant income whilst increasing farm productivity. It’s also important to remember the main game is to reduce carbon emissions at the source to drive deep emissions reductions this decade and protect our farming families.”

Farmers for Climate Action represents 7000 farmers asking for economy wide emissions reduction.

Media contacts:

Jacqui Street 0498 188 528 / [email protected]

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