The Emissions Reductions Assurance Committee (the Committee) is reviewing the Carbon Credits (Carbon Farming Initiative-Beef Cattle Herd Management) Methodology Determination 2015 (the beef herd method) against the Offsets Integrity Standards set out in the Carbon Credits (Carbon Farming Initiative) Act 2011 (the Act).
The Committee conducted a crediting period extension (CPE) review for the beef herd method in 2021/22. The Committee found that there was insufficient evidence to demonstrate that extending the crediting period, beyond the present 7 year period, would continue to result in abatement, which will be unlikely to occur in the ordinary course of events. In the course of that review, the Committee became aware of changes in the context in which beef herd projects operate that have occurred since the method was first made in 2015. For example, increased beef commodity prices could be driving increased adoption of new agricultural practices that reduce the emissions intensity of beef cattle production in the ordinary course of events.
The Committee therefore decided, as a further step following the completion of its CPE review, to incorporate a periodic review of the beef herd method into its work program for 2022. This is in accordance with the functions established in section 255 of the Act, for the Committee to undertake periodic reviews and consider whether or not a method should be varied or revoked.
The Committee has prepared a discussion paper to inform public consultation on its review of the beef herd method. This is available on Department of Industry, Science and Resources' Consultation Hub.
The Committee invites submissions from the public on the method's compliance with the Offsets Integrity Standards and any other issues with the method. Interested parties are also invited to provide feedback on how the method could be improved and whether it raises any issues with respect to possible adverse impacts on the environment or for local communities.
The Committee will consider submissions received by 21 October 2022. Following this, the Committee will prepare its advice to the Minister for Climate Change and Energy as to whether the method should be varied or revoked.
This review is being conducted as part of the Committee's work program to ensure methods are compliant with the offsets integrity standards. Separately, the Australian Government has appointed an independent panel to review the integrity of Australian carbon credit units. The panel, led by Professor Chubb, will provide its advice to the government by the end of December 2022.