Overview

On 24 February 2011 Baker & McKenzie held a private briefing on the Australian Government’s Carbon Credits (Carbon Farming Initiative) Bill 2011 (the Bill). If passed by Federal Parliament, the Bill and associated regulations will establish the Carbon Farming Initiative (CFI), a single national framework for the accreditation of carbon sequestration and emissions avoidance projects and the generation of Australian carbon credit units (ACCUs).

An exposure draft of the Bill was released for public comment on 4 January 2011, as were draft guidelines for submitting methodologies. The deadline for comments on the Bill was 4 February 2011. The Bill was also accompanied by a consultation paper. The Bill countenances the CFI commencing on 1 July 2010. It is expected that the Government will seek to introduce the Bill into Federal Parliament in coming weeks.

To read more click ‘view briefing’.