Following concerns raised that most Australian carbon credits didn’t represent legitimate abatement, the new Government commissioned the Independent Review of Australian Carbon Credit Units (ACCUs) to ensure that the crediting framework was fit for purpose for intended reforms to the Safeguard Mechanism. The Independent Review was led by former Chief Scientist, Professor Ian Chubb AC, who worked alongside two experts with experience in the carbon industry, and one other scientific expert without carbon experience for the purpose of maximising critical capacity.
The Independent Review did not accept the claims made, finding on the evidence presented to it that the level of abatement has not been overstated, and that the ACCU regime is ‘sound’. However, it made 16 recommendations to update governance, transparency, and integrity arrangements.
This page unpacks the Independent Review, its recommendations and broader market integrity developments. Download our concise market brief, unpacking the Review below.