While much of the public debate in Australia has been over the Government’s proposed Carbon Pollution Reduction Scheme, quietly, in the background, the federal department of Climate Change has been plugging away on the National Carbon Offset Standard, known in the biz as the NCOS. The NCOS supplements the forthcoming CPRS by giving Australian businesses and individuals a legitimate mechanism for going over and above their obligations under the CPRS to become truly, verifiably carbon neutral. The NCOS, officially announced the other day, replaces the old Greenhouse Friendly scheme and comes into effect from 1 July 2010.
How does the National Carbon Offset Standard work?
The National Carbon Offset Standard provides a means of ensuring the integrity of offsets and carbon neutral products available for consumers and businesses alike. The Standard assists consumers to make effective choices in regard to offsetting and interpreting carbon neutral claims. It also provides guidance for businesses for determining their carbon footprint and for purchasing robust offsets.
Those organisations achieving carbon neutrality will purchase a range of eligible offset credits under the National Carbon Offset Standard, including:
- Carbon pollution permits, including those from forestry projects opting into the Carbon Pollution Reduction Scheme
- Kyoto units recognised and accepted under the Carbon Pollution Reduction Scheme
- Credits issued under the internationally recognised Voluntary Carbon Standard and Gold Standard, where these meet specific requirements
- Credits issued by domestic offset projects that reduce emissions from sources currently not counted towards Australia’s Kyoto Protocol target.
