The Clean Energy Regulator has contracted to buy almost 17 million tonnes of abatement from ERF soil carbon projects but not one of them has yet created a credit, and now the government plans to rewrite the rules.
The timing of the next ERF auction will be influenced by levels of interest in new methods for earning credits, according to Jody Swirepik, acting chief executive of the Clean Energy Regulator.
Two well-known carbon companies have given enforceable undertakings over consent forms that the Clean Energy Regulator alleges were improperly amended.