The Hon Chris Bowen MP, Minister for Climate Change and Energy
The Hon Josh Wilson MP, Assistant Minister for Climate Change and Energy
The Albanese Government is expanding the opportunities for Australian farmers, businesses and communities to tackle dangerous climate change by diversifying their income through emissions reduction activities with the introduction of new and updated carbon crediting methods.
Two new savanna fire management methods, together with the remaking of livestock and waste management methods will create more opportunities to generate income, cut emissions, and contribute to Australia's net zero transformation.
Savanna fire management methods support the application of proven First Nations land stewardship through low intensity, 'cooler' fires in the early dry season, which lowers emissions from avoided high-intensity fires and increases carbon stored in dead organic matter.
Informed by thousands of years of First Nations knowledge, the savanna methods incorporate recent advances in science about the carbon stored in savanna ecosystems.
The two new methods are:
- a new savanna fire management sequestration and emissions avoidance method, and
- an updated savanna fire management emissions avoidance method.
For the first time, these methods account for carbon stored in specific savanna vegetation, allowing more accurate crediting of strategic fire management across Northern Australia.
This can help project owners, especially Indigenous savanna fire management businesses, earn more Australian Carbon Credit Units (ACCUs) by moving existing projects to the new methods.
Farmers across Australia can also look forward to new ways to earn carbon credits from their enterprise, with Meat and Livestock Australia leading development of a substantially remade ACCU method that builds on breakthroughs in low-emissions livestock management.
The Livestock method will aim to incorporate the latest science on the use of feed additives that reduce methane from livestock, potentially creating another revenue stream for farmers and a buffer against fluctuating stock prices and weather conditions.
If made, it will replace the expired Beef Cattle Herd Management method.
Waste management and resource recovery businesses are also in line to benefit from updates to an important ACCU method.
Under development by the Australian Resources Recovery Council, the updated Alternative Waste Method will incentivise the diversion of mixed solid waste from landfill, which could support increased production of fertiliser and biofuels.
Another expired method, the Coal Mine Waste Gas (CMWG) method will not be remade in view of the declining marginal value of those activities as the grid decarbonises and recognising the incentives that exist through the obligations under the Safeguard Mechanism.
Existing CMWG projects can continue to earn ACCUs for the duration of their crediting period.
Quotes attributable to Minister for Climate Change and Energy, Chris Bowen:
"It's great to see two new ACCU methods that account for the huge scope of carbon retained by careful savanna fire management.
"I'm also pleased to see industry taking the lead to revise and remake two older methods to encompass new scientific developments in livestock and waste management.
"All four methods are about creating new economic opportunities that will deliver real cuts to Australia's emissions and open new pathways to net zero by 2050."
Quotes attributable to Assistant Minister for Climate Change and Energy, Josh Wilson:
"It's fantastic to add new ACCU methods to the scheme at the same time as sectors take up the huge potential that exists in remaking older methods to incorporate the latest scientific developments.
"Each new method and update improves how we store carbon, avoid emissions, and reward the projects that help us on our way to net zero, recognising that in all cases there are additional benefits in terms of environmental outcomes and economic development in rural and regional Australia.
"I would like to thank the many Traditional Owners, Land Councils, Indigenous-led organisations and businesses, and the scientific community for helping us deliver new savanna fire methods.
"I'm also pleased to be working with key industry bodies to remake ACCU methods for livestock and waste management, opening new revenue streams and driving more real cuts to Australia's emissions."
