A suite of changes to the Carbon Farming Initiative will allow CO2-liable companies to use soil carbon credits and expands the list of activities that can generate credits.
The Carbon Farming Initiative rewards companies for abatement actions that go beyond what's required, but that hasn't stopped Woodside gaining approval to create credits worth millions from activities linked to an offset obligation imposed by the WA EPA.
A new federal determination deals with carbon charges on refrigerants and fuels, while another details rules for earning credits from protecting native forests at risk of being cleared.
Fossil-fuel power stations have provided the Clean Energy Regulator with CFI carbon credits worth about $35 million, accounting for the lion's share of $39m in credits handed over.
For the first time, new hardwood plantations operating under a 25-year harvesting regime would be allowed to create carbon credits, under a draft regulation released by the Gillard Government.
In a first for the Carbon Farming Initiative, Caltex has bought credits that it will use for compliance purposes from an Indigenous project that reduces wildfire risk in northern Australia.