We support markets for the domestic carbon credits we administer:
ACCUs and SMCs are tradable units generated under their respective schemes.
Legislation
- Australian National Registry of Emissions Units Act 2011 (ANREU Act)
- Australian National Registry of Emission Units Regulations 2011 (ANREU Regulations)
- Carbon Credits (Carbon Farming Initiative) Act 2011
- Carbon Credits (Carbon Farming Initiative) Rule 2015
- National Greenhouse and Energy Reporting Act 2007
- Corporations Act 2001 (Corporations Act)
Transition to the Unit and Certificate Registry
Australian carbon credit units (ACCUs) are migrating to the Unit and Certificate Registry from 7 to 10 November 2025. During this time, the registry and the Australian National Registry of Emissions Units (ANREU) system will be offline.
ACCUs will be available in the registry from 11 November 2025.
Learn more about the migration, key dates and how to prepare.
The ACCU and SMC markets
We issue:
- ACCUs to projects under the ACCU Scheme for carbon abatement activities
- SMCs to eligible facilities under the Safeguard Mechanism that reduce emissions below their baselines.
The markets set the price of units, based on the balance of supply and demand.
SMC demand is driven by safeguard entities needing to meet their Safeguard Mechanism obligations.
ACCU demand includes:
- carbon abatement contracts
- safeguard entities needing to meet their Safeguard Mechanism obligations
- state and territory governments
- organisations wanting to voluntarily reduce emissions.
Voluntary markets allow organisations and different government bodies to voluntarily reduce their emissions by sourcing and voluntarily cancelling ACCUs. Buyers are often interested in the non-carbon benefits associated with the underlying projects.
Learn more about voluntary offsetting and surrender.
Quarterly Carbon Market Reports
Learn more about the market's supply and demand of ACCUs and SMCs in our Quarterly Carbon Market Reports.
ACCUs and SMCs can be transferred between ANREU accounts.
A transfer of an ACCU or SMC is valid when an entry for the unit has been removed from the transferor's ANREU account, and an entry for the unit is made in the transferee's ANREU account. These steps occur automatically and securely.
From 11 November 2025, the transfer of ACCUs will be managed in the Unit and Certificate Registry. ACCUs will join SMCs which have been managed in the registry since February 2025.
An ACCU or SMC can be transferred by:
- assignment, such as a sale or gift, or
- operation of law, such as the death or bankruptcy of the account holder.
If required, we can restrict transfers of ACCUs and SMCs within ANREU to:
- ensure the integrity of the registry
- prevent, mitigate or minimise abuse of the registry
- prevent, mitigate or minimise criminal activity involving the registry.
ACCUs and SMCs cannot be transferred to an account in a foreign registry.
ACCU Scheme projects can also achieve a range of benefits called non-carbon benefits or co-benefits. These include:
- environmental
- economic
- social
- cultural.
Non-carbon benefits can be achieved by:
- increasing biodiversity from the protection and regeneration of native vegetation
- using traditional fire management practices providing new income streams for First Nations communities
- improving soil health and resilience in the land sector.
Purchasing ACCUs from projects with non-carbon benefits can offer additional value in meeting sustainability commitments.
If buying ACCUs, you need to enter into a commercial agreement with the seller. ACCU sellers often publish information on their websites about a project's non-carbon benefits.
Before you buy, ensure you:
- ask the seller about the specific project and ACCU project identification number
- ask where you can find further information about the project
- verify the project identification number on our project register.
You can also learn about projects with non-carbon benefits through the Carbon Market Institute.
Commercial agreements should specify the project details and provide authenticity assurance of the non-carbon benefits delivered by the project.
We don't conduct checks or provide assurance on non-carbon benefit claims. You are responsible for doing due diligence when buying ACCUs with non-carbon benefits.
After receiving ACCUs in your ANREU account, verify your commercial agreement details match the register's.
ANREU account holders can voluntarily cancel an ACCU to offset greenhouse gas emissions. The entry for the ACCU will be removed from the ANREU account and permanently cancelled. SMCs cannot be voluntarily cancelled.
ACCUs and SMCs as financial products
ACCUs and SMCs are classified as financial products under the Corporations Act. This means some carbon market participants may require an Australian financial services (AFS) licence if they:
- provide financial advice
- buy, sell or trade ACCUs
- operate and market ACCUs, SMCs or derivatives
- operate a registered managed investment scheme
- operate custodial or depository services.
We recommend you seek independent, professional advice when trading ACCUs or SMCs. For more information, read our statement on the legal characteristics of ACCUs.
Australian market licences
Entities who wish to establish and operate a financial market dealing in carbon units may be required to obtain an Australian market licence.
Australian market licences can be granted by the Minister for Financial Services and Superannuation on advice from the Australian Securities & Investments Commission (ASIC).
For more information:
- contact ASIC by emailing marketsregulation@asic.gov.au
- view ASIC's Financial markets: Domestic and overseas operators regulator guide (RG 172).