Commonwealth Consolidated Acts

CARBON CREDITS (CARBON FARMING INITIATIVE) ACT 2011 - SECT 3

  (1)   This section sets out the objects of this Act.

Climate Change Convention and Kyoto Protocol etc.

  (2)   The first object of this Act is to remove greenhouse gases from the atmosphere, and avoid emissions of greenhouse gases, in order to meet Australia's obligations under any or all of the following:

  (a)   the Climate Change Convention;

  (b)   the Kyoto Protocol;

  (c)   the Paris Agreement;

  (d)   any other international agreement.

Incentives

  (3)   The second object of this Act is to create incentives for people to carry on certain offsets projects.

Carbon abatement

  (4)   The third object of this Act is to increase carbon abatement in a manner that:

  (a)   is consistent with the protection of Australia's natural environment; and

  (b)   improves resilience to the effects of climate change.

Purchase of carbon abatement by the Commonwealth

  (5)   The fourth object of this Act is to authorise the purchase by the Commonwealth of units that represent carbon abatement.

Australia's greenhouse gas emissions reduction targets

  (6)   The fifth object of this Act is to facilitate the achievement of Australia's greenhouse gas emissions reduction targets.