Australia revises carbon offset schemeA revised National Carbon Offset Scheme has just been released, allowing Australian businesses to offset their products with pollution reduction under the Government's Carbon Farming Initiative. Introduced on 1 July 2010, the offset scheme ensures national consistency and consumer confidence in the voluntary carbon market.The release of the revised standard follows a review conducted in late 2011. The standard provides guidance on what is a genuine voluntary offset and sets minimum requirements for calculating, auditing and offsetting the carbon footprint of an organisation, product or event to achieve carbon neutrality. The NCOS has been revised in light of the Clean Energy Future package and the carbon farming initiative (CFI). Carbon credits created under the CFI can now be used to meet carbon neutral commitments under the NCOS, providing another market for landholders who voluntarily undertake greenhouse gas abatement activities and the revised standard allows carbon credits issued under the Government’s previous Greenhouse Friendly scheme to be used to offset emissions under the NCOS. Source: 2012 Carbon News |
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