2. The Emissions Trading Scheme/Carbon Tax Part 2: The Carbon Farming Initiative cont. and The Emissions Trading System

3. Producer of Carbon Credits e.g. Owner of a Farm or Waste Desposit site Buyer of Carbon Credits Voluntary or Mandatory National or International Buyer of Goods, Services or Carbon Credits E.g. Households, companies, farmers or government = carbon credits = $$$$$ Sequester (take in and store) carbon in plants Reduce greenhouse gas output

4. Private buyer of Carbon Credits Consumer of Goods/Services Buyer of Carbon Credits Government Non-Kyoto Carbon Fund Clean Energy Regulator Australian National Registry of Emissions Units Legislative bodies in charge of water, planning and environmental requirements E.g. CMA, local council Department of Sustainability, Environment, Water, Planning and Communities Domestic Offsets Integrity Committee Minister for Climate Change and Energy Efficiency Independently Cooperative Multiple Project Proponents With Service Providers or Aggregators Public, State Government Minister, Native Title Body Corporate Comply with all water, planning and environment requirements Must be approved by implicated land management and financial bodies Must not be a high-risk activity (on the negative list) Exceed a baseline carbon quota Demonstrate additionality Demonstrate permanence reductions in emissions are additional to any that would have occurred in absence of project Adverse effects to: Availability of water Conservation of Biodiversity Employment Local community Land access for agricultural production Producer of Carbon Credits “Methodology”