Amendments to the Audit Threshold Instrument now in effect

Amendments to the Carbon Credits (Carbon Farming Initiative) (Audit Thresholds) Instrument 2015 (the Audit Thresholds Instrument) are in effect from today, Tuesday 29 June 2021. 

The amendments create a new class of alternative assurance project called Low Risk Environmental Planting Projects – criteria for this class of projects include using the Reforestation by environmental or mallee plantings method and having a carbon estimation area of up to 200 hectares. In place of audits, these projects will be subject to greater oversight by the Clean Energy Regulator including the use of geospatial monitoring. 

These amendments are consistent with the recent consultation process undertaken by the Clean Energy Regulator and the Department of Industry, Science, Energy and Resources.