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In December 2023, CHL received the news that its "EcoHaul" project had met all the requirements set under the Carbon Credits (Carbon Farming Initiative) Act 2011. This significant achievement further solidifies our commitment to environmental responsibility, and now, with great pride, the we announce our recent approval for Australian Carbon Credit Units (ACCUs).
We are dedicated to minimizing its environmental footprint and actively seeking ways to contribute to a sustainable planet. The approval for ACCUs reflects the culmination of 18 months of effort to prepare for these approvals.
What are ACCU's?
ACCUs are a recognized form of carbon credit in Australia, designed to incentivize businesses to reduce their greenhouse gas emissions. One ACCU represents one tonne of carbon dioxide equivalent (CO2-e) greenhouse gas that is not released into the atmosphere. In order to be issued ACCUs, you must run an eligible, registered project in accordance with the relevant rules.
These are not cash from the Australian Government but are certified financial products that can be sold to the Australian Government or to businesses wishing to offset their emissions.
More information can be found here - ACCUs Information.
What is the importance of an ACCU to zero emission transport?
ACCUs represent a way that carbon reductions from energy reduction projects, such as our EcoHaul project, can be accounted for. It also provides a way to monetize these reductions so that a value can be placed on the carbon. As we move towards net zero, schemes like this will become more important.
Depending on the freight application, a single vehicle could generate an additional $10,000-$20,000 revenue per annum in ACCUs.
I have a zero emission project, do i need to register it?
If you want to claim carbon credits for any emission reduction projects, it will need to be registered. This project takes 12-18 months depending on the complexity. There are also ongoing auditing requirements and reporting required before ACCUs can be generated and traded. For large projects, this would be beneficial, but for small fleets and trials, this may become complex. Our approvals allow us to consolidate multiple projects into a single project, which means that smaller fleets can still benefit without the headache.
Where can i find a list of ACCU Projects?
The Clean Energy Regulator publishes information about projects registered under the Emissions Reduction Fund and about carbon abatement contracts awarded. The link to this site is here - ACCU Project Listing.
Where do i go for more information?
The Clean Energy Regulator provides plenty of great technical information regarding ACCUs in Australia. We have just been through the process and would be happy to share our experience.
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