Simplified outline of this Part
68 Simplified outline of this Part
• Generally, the crediting period for an eligible offsets project is:
25 years for a sequestration offsets project; or
7 years for an emissions avoidance offsets project.
• However, the applicable methodology determination for the project may specify a different crediting period.
• An eligible offsets project cannot have more than one crediting period.
• However, transitional rules apply if a project was an eligible offsets project immediately before the commencement of this Part.
Under section 15, the general rule is that the Regulator may only issue a certificate of entitlement to Australian carbon credit units in relation to a reporting period for an eligible offsets project if the reporting period is included in a crediting period for the project.
This Act’s bill:Explanatory memorandumSecond reading speech
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