Regional Carbon Aggregation Opportunities
Jun 22, 2015
The Federal Government’s current policy toward climate change mitigation is being delivered through the Emissions Reduction Fund (ERF) which is purchasing carbon abatement units through a series of auctions. The Federal Government has a budget of $2.5 billion for this purpose. Approximately 25% of this fund was spent on purchasing carbon abatement, principally from land-sector activities and landfill gas capture, in the first auction held in April. The average price on units contracted through this auction was $13.95/tonne CO2. The next auction is anticipated around September 2015. The government has a residual fund of $1.9 billion to purchase further carbon abatement credits.
Landholders in the Burnett-Mary region may be eligible to participate in a number of sequestration methods through vegetation and soil management practice change. The Clean Energy Regulator has developed an excellent online decision tree which will lead interested land managers through a process of determining what methods they may be eligible for.
BMRG has been advised of an aggregation proposal being developed by Verterra and Corporate Carbon with the aim of assisting landholders participate in the ERF for a number of vegetation methods. Verterra and Corporate Carbon will manage the interface with the Clean Energy Regulator to register projects, secure ERF contracts and manage resulting contractual obligations. Landholders interested in participating should work through the Clean Energy Regulators interactive sequestration method decision tree to identify what practice change and method they may be eligible for, and then contact Verterra for an Expression of Interest package on (07) 3221 1102.
Landholders interested in this opportunity need to act now, as the cut-off date for earning carbon credit units for existing tree plantings is the 30 June 2015. All eligible existing projects must be registered with the Clean Energy Regulator by this date.
Please note - the deadline to register your interest with Verterra for existing projects is Friday 26 June.
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