ACI Code of Conduct welcomes Western Australia Government as Government Partner
The Australian Carbon Industry Code of Conduct (The Code) welcomes the Western Australia Government as its third Government Partner.
As a world-first consumer protection mechanism in the Australian carbon market, the Code became operational in July 2021 and has since committed the nation’s carbon industry to higher standards of behavioural integrity, transparency and accountability. It currently has 36 signatories, which represent approximately 50% of land based[1] Australian carbon credit unit (ACCU) projects across Australia under the Carbon Credits (Carbon Farming initiative) Act 2011, and two other formal Government Partners (Queensland and New South Wales Governments).
Code Director Pip Stenekes said the partnership with WA Government marks an important milestone in the work developed by the Code Administrator and its Signatories to drive industry best practice, build integrity, ensure consumer protection:
“The Code is integral to strengthening the overall integrity of the ACCU scheme and it plays an important role in building trust and engagement with stakeholders, including Native Title holders and interests, farmers, land managers, project owners and investors in the carbon market. It also aims to ensure transparency and accountability among industry stakeholders,” she said.
“State government support for the Code is vital in continuing to improve integrity in the industry, and with approximately 38% of all ACCU projects registered in WA managed by Code signatories, there’s a significant opportunity to increase that figure. We welcome the WA government’s support and look forward to working with them.”
“This partnership also comes at pivotal time for climate progress, including for achieving our net zero targets, particularly as we now have new strengthened Safeguard Mechanism legislation and as we await further details on the implementation of recommendations made by the Independent Review of ACCUs.”
The Code was recognised by the Review as an important framework underpinning integrity, and it will be central to implementing a number of these recommendations, including:
- Recommendation 12 – enhancing market confidence and consumer protection by accrediting and mandating performance standards for carbon service providers, including agents; and
- Recommendation 11 – supporting Native Title Representative bodies and other relevant bodies to ensure consistent standards in the application of Free, Prior and Informed Consent for carbon projects.
Organisations can find out more about how to become an Industry Supporter or Signatory of the Code of Conduct at www.carbonmarketinstitute.org/code.
About the ACI Code of Conduct
The Code is a voluntary industry code hosted by the Carbon Market Institute (CMI). The Carbon Market Institute (CMI) is a member-based institute accelerating the transition towards a negative emissions, nature positive world. CMI launched the Carbon Industry Code of Conduct in 2018, and it is Australia’s world-first carbon market-related consumer protection code of conduct.
The Code’s vision is to achieve a well-functioning emissions reduction and carbon sequestration industry in Australia at the scale and quality required to significantly contribute to Australia’s greenhouse gas reduction commitments, outlined under the Paris Agreement.
The Code’s role in the carbon market is significant in that it:
- Defines industry best practice for market participants including project developers, agents, aggregators and advisers in Australia’s carbon industry;
- Promotes consumer protection and appropriate and open interaction with clients;
- Provides guidance to scheme participants
- Promotes market integrity, transparency, and accountability; and
- Displays international leadership in Australia’s carbon market.
Code Signatories include carbon service providers and advisors who, on conservative estimates, represent over half of all carbon credits issued under the Federal government’s ACCU scheme. Code Signatories also include intermediary brokerage, legal and advisory service providers.
For further information, contact Dayana Flores on dayana.flores@carbonmarketinstitute.org
[1] Land-based ACCU projects include those registered under Vegetation (Avoided Clearing of Regrowth and Human-induced Regeneration (HIR)), Savannah Fire Management and Agricultural methods under the Carbon Credits (Carbon Farming Initiative) Act 2011.
