The Carbon Market Institute’s (CMI) Carbon Farming Scorecard, produced in partnership with KPMG, presents the most comprehensive year-on-year analysis of Australia’s carbon farming policy frameworks. The third edition of the report found that Queensland (83%), the federal government (79%) and New South Wales (74%) remained the most advanced jurisdictions in the level and nature of support for carbon farming and its role in recognising and delivering Indigenous, social, environmental and economic co-benefits for regional communities.
At a national level, the government was recognised for its work in continuing to implement the first phase of ACCU Review recommendations, focused on underpinning market transparency and integrity. However, uncertainties remain among market participants due to the gap between the sunsetting of two land-based methods and the introduction of new or revised methods.
Additional budget resourcing of $48 million to implement ACCU reforms provides the potential to progress new high integrity methods and complete other integrity and legislative reforms.
With market framework renovations well underway, Australia’s carbon farming sector has an increasingly clear role to play in supporting climate repair and resilience, driving innovation, investment, and generating jobs, revenues and other co-benefits for communities across the country.
Key findings
