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.

Carbon Conversations 2023: Chubb Review

Speakers in this esteemed panel include:

  • Prof Ian Chubb, Chair, ACCU Review Panel
  • Skye Glenday, Co-CEO, Climate Friendly
  • Kath Rowley, Division Head, Department of Climate Change, Energy, the Environment and Water

With host John Connor, CEO, Carbon Market Institute.

A transcript of Professor Chubb’s remarks is available here.

Date: 03/02/2023

ACCU Review Implementation Plan

In June 2023, the Federal Government released its Australian Carbon Credit Unit (ACCU) Review Implementation Plan. It provides an important update in clarifying the ‘how and when’ for recommended ACCU scheme improvements.  The plan is an important step in continuing to build confidence in the scheme.

The plan should assist the prompt finalisation of the improved Savanna Fire Management and new Integrated Farm and Land Management (IFLM) methods. View CMI’s press release here.