The Act allows for periods less than 100 years

Recommendation

The Carbon Credits (Carbon Farming Initiative) Act makes provision for a period other than 100 years to be specified in the regulations. The Minister can make regulations to set the period at any length:

"Part 7, Div. 1, clause 87, Maximum potential relinquishment period (1) For the purposes of this Act, the maximum potential relinquishment period for an eligible offsets project is: (a) 100 years; or (b) if, at the time when the declaration of the project as an eligible offsets project was made, a greater number of years was specified in the regulations—that greater number of years. (2) However, if: (a) the regulations specify a number of years that is less than 100 years; and (b) those regulations are made after the time when the declaration of a project as an eligible offsets project was made; then, despite subsection (1), that lesser number of years is the maximum potential relinquishment period for the eligible offsets project.

Part 9, Div. 3, clause 133 Offsets integrity standards (1) For the purposes of this Act, the offsets integrity standards are as follows: (f) a method specified in a methodology determination in accordance with paragraph 106(1)(c) or (d) in relation to a sequestration offsets project should provide for adjustments to take account of significant cyclical variations that are likely to occur in the amount of carbon sequestered in the relevant carbon pool on the project area or project areas during: (i) a 100‑year period; or (ii) if, at the time when the methodology determination was made, another period was specified in the regulations—that other period…”