The Australian Forest Products Association (AFPA) has expressed disappointment today following the Federal Government's alarming decision to register a new carbon credit method, warning it undermines the integrity and credibility of Australia's carbon market.
AFPA Acting CEO Richard Hyett said the decision prioritised politics over science and would damage the public confidence and transparency of the Australian Carbon Credit Unit (ACCU) scheme.
"For more than 18 months, the sustainable forest products industry has consistently raised serious concerns that this new method does not meet the ACCU scheme's own requirements for integrity, transparency or additionality," Mr Hyett said.
"It's fair to say, I am gutted by this controversial decision."
Mr Hyett said the method would generate carbon credits without delivering genuine additional emissions reductions or abatement and was based on science that has been challenged by independent experts and government scientists.
"There is a complete lack of transparency surrounding this proposal, as key modelling, technical analysis and supporting documentation had not been released for proper public scrutiny," Mr Hyett said.
"The method - developed by the Australian National University (ANU) - also fails to adequately account for issues such as bushfire risk, carbon leakage to overseas markets and the long-term financial liabilities it could create for taxpayers."
Mr Hyett warned the method could also flood the carbon market with low-integrity ACCUs, reducing confidence in legitimate carbon projects and weakening investment in genuine climate action.
"This short-sighted decision risks undermining Australia's sustainable multiple-use public production forests, which already deliver environmental, economic and climate benefits through active forest management," Mr Hyett said.
"The only apparent beneficiary of this method is the NSW Government, which wants someone else to pay to fund their election commitment to develop the Great Koala National Park."
"Australia's carbon credit scheme was designed to encourage real carbon abatement and high-integrity environmental outcomes, and it's important the scheme remains focused on delivering genuine emissions reductions rather than being used to retrospectively fund policy decisions."
