The federal government has released draft laws outlining how its carbon offset scheme will work for farmers, forest growers and landholders.
Climate Change Minister Greg Combet released the proposed legislation and “methodology guidelines” for the scheme on Tuesday.
“While there is still work to be done, the government is making these early drafts available now to give stakeholders more information on how the proposals described in the consultation paper released last November would work in practice,” Mr Combet said in a statement.
“Potential participants in the scheme will be able to gauge how they might get involved and help to identify any gaps or unintended impacts of the legislation.”
Carbon credits represent abatement of greenhouse gases.
This can be achieved by reducing or avoiding emissions through capture and destruction of methane emissions from landfill or livestock manure.
Alternatively, credits can be earned by removing carbon from the atmosphere and storing it in soil or trees.
Further details on the carbon farming initiative are available at climatechange.gov.au/cfi.
