The Australian Government has released the December 2024 Quarterly Update of Australia's National Greenhouse Gas Inventory and submitted the 2023 National Inventory Report to the United Nations Framework Convention on Climate Change (UNFCCC).
The December 2024 Quarterly Update provides an account of national emissions up to the end of December 2024 and preliminary national emissions up to the end of March 2025. The quarterly update finds that Australia's emissions in the year to December 2024 are 27% lower than emissions in the year to June 2005, the base year for Australia's 2030 Paris Agreement target.
The level of emissions in the year to December 2024 was 446 million tonnes of carbon dioxide equivalent (Mt CO2-e), essentially the same level as for the previous 12 months.
Emissions from the agricultural and the industrial sectors were lower, with a fall in crop production, lower production of steel, some emissions reductions in chemicals manufacturing and lower use of refrigerant gases. Emissions from the transport and electricity sectors increased due to higher diesel consumption, an increase in domestic aviation activity and a fall in generation of hydroelectricity leading to increases in other forms of electricity generation, including coal and gas. There was a decrease in emissions from the stationary energy sector due to less coal consumption from metal manufacturing and less residential gas use.
The preliminary estimate of national emissions for the year to the March quarter 2025 is 442 Mt CO2-e, a decline of 1.2% on the prior 12 months.
Commentary on the new data noted the significant role played by the land sector in the reduction in Australia's net emissions since 2005, and uncertainties in the measurement of fugitive emissions from coal and gas extraction. Other reporting noted that while levels of renewable energy generation had increased since 2023, carbon emissions from the electricity sector had increased overall. This was due to lower wind production and drought in Tasmania leading to lower hydro-electricity generation.
The National Inventory Report details Australia's national greenhouse gas emissions from the financial year 1989-90 to 2022-23 and fulfils Australia's reporting obligations under the Paris Agreement. The inventory report finds that Australia's net greenhouse gas emissions were 453 Mt CO2-e in 2022-23. This is a decrease of around 26% from 2004-05 levels.
An Australian Carbon Credit Unit (ACCU) represents one tonne of carbon dioxide equivalent (tCO₂-e) avoided or removed from the atmosphere. It is issued under the Emissions Reduction Fund (ERF), which is administered by the Clean Energy Regulator.
In Australia, you can use a carbon credit (Australian Carbon Credit Unit - ACCU) in several ways, depending on whether you are a business, investor, or landholder.
This will be dependant on the methodology of your project.
No
being under freehold will be easier, however carbon projects are still achieveable under leasehold land.
Entities or individuals with a financial or managerial interest in the property may include, but are not limited to, financial institutions (e.g., banks), holders of native title claims, and relevant government authorities such as the Crown Land Minister.
No, you are not required to include your entire property in the project. You may select specific eligible areas of your property to participate as per your preference.
Soil tests that identify carbon may not necessarily be suitable for establishing your baseline, as they measure a different type of carbon than what is required for emissions accounting or carbon projects. It is important to ensure that the methodology aligns with the specific requirements of the program or framework you are working within.
The cost of establishing a soil carbon project varies depending on the size of the project and the number of soil samples required. Larger projects and those requiring more extensive sampling will typically incur higher costs. It is recommended to consult with a specialist to determine the specific costs based on your property and project requirements.
The cost of establishing a vegetation carbon project varies depending on the chosen Carbon Service Provider (CSP), the division of responsibilities for project implementation, and the party assuming the associated risks.
As of March 26, 2025, the spot price for Australian Carbon Credit Units (ACCUs) was A$32.50
No, you are not required to completely destock under a tree carbon project. However, you must reduce your stocking rate to align with project requirements. You may choose to fully destock, but this is not mandatory.
Soil carbon at 30cm is typically more abundant, labile, and influenced by biological activity, supporting plant growth and nutrient cycling. At 1m depth, carbon is less abundant, more stable, and stored in a less accessible form, contributing to long-term carbon sequestration and soil health. Both depths play a role in soil fertility and climate change mitigation, but the deeper carbon is more resilient and less impacted by surface disturbances.
Scope 3 emissions are indirect greenhouse gas emissions from a company’s entire value chain, both upstream (e.g., supply chain, employee travel) and downstream (e.g., product use, disposal). These emissions, though not directly controlled by the company, often make up the largest portion of its carbon footprint.
For farms, Scope 3 emissions include the production and transportation of inputs such as feed, fertilizers, and machinery, as well as the transportation, processing, and disposal of farm products. These emissions extend beyond farm operations, impacting the broader agricultural supply chain.
Scope 2 emissions are indirect greenhouse gas emissions from the generation of purchased electricity, steam, heating, and cooling used on the farm (e.g., for irrigation, cooling systems, lighting).
Scope 1 emissions are direct greenhouse gas emissions from sources owned or controlled by a company. In farming, these include:
These emissions are produced directly on the farm and are the most controllable within farm operations.