Australia can now participate in Kyoto international carbon trading according to Minister for Climate Change and Water

The Minister for Climate Change and Water, Senator Penny Wong this week announced that Australia's emissions trading registry has been issued with Australia's Kyoto units for the 2008-2012 Kyoto Protocol period.
The Secretariat to the United Nations Framework Convention on Climate Change has confirmed Australia's units, or Assigned Amount Units, for the 2008-2012 commitment period, were 2,957,579,143 tonnes of CO2 equivalent of greenhouse gas emissions.
This is equivalent to 108 per cent of 1990-level emissions. Senator Wong said the issuing of the Kyoto units meant Australia could now participate in international emissions trading under the Kyoto Protocol.
The Kyoto Protocol allows for countries to create and acquire Kyoto units from other countries via three mechanisms and use those units to meet their targets.
The registry, which will be administered initially by the Department of Climate Change, will track and record all Australian trade in Kyoto units.
[Queensland Farmers Federation Weekly Bulletin,31 July 2009]