New Draft Soil Carbon Method Spells Opportunity for Landholders
Over the course of the last few months, Carbon Link have been working with the Clean Energy Regulator and industry participants to provide direct input to the proposed 2021 Soil Methodology. The Draft Method is positioned to encourage greater participation in soil carbon projects and deliver on the huge potential of soil carbon sequestration. The Clean Energy Regulator has adopted a collaborative approach to delivering this revised methodology and is working hard to deliver the new method before the end of 2021. Carbon Link will be submitting our suggested changes to the Draft by 7th June.
Carbon Link congratulates the Clean Energy Regulator on this new draft which, if implemented would make soil Carbon Projects accessible to many more landholders. Soil carbon projects can sequester large volumes of carbon and in doing so, the agriculture sector will emerge as a crucial driver in reducing Australia’s greenhouse gas emissions. Greater industry participation will deliver sequestration at scale and work towards Australia delivering on its Paris Agreement targets. Once this round of reviews and feedback is completed, we expect the new method will come into effect by the end of 2021.
Some of the key proposed changes that anyone considering a Carbon Project should be aware of are:
- Allowing forested land to be included in Carbon Estimation Areas.
- The broadening of the eligible land management activities.
- Allowing the use of soil amendments containing coal and restricted non-synthetic fertilizers (within particular thresholds).
- Removing the restrictions on the use of irrigation efficiency savings achieved through new or upgraded on-farm irrigation infrastructure funded by a Commonwealth or State or Territory program.
- Reducing the baseline period to 5 years before project registration.
- Consulting on changes to the spectroscopy requirements to reduce costs and increase update.
- Allowing projects registered under the 2014 and 2018 method to transition to the 2021 method.
- Amending some equations and calculations to make it easier to adhere to the method, and
- The use of the proposed measured + modelled approach will enable progression to annual issue of ACCUs and thus payments to landholders.
The draft documents contain considerably more detail than what has been summarised above. You can find out more information from the Clean Energy Regulator here.
If you wish to find out more or to obtain a copy of the Draft documents, please feel free to contact us directly.
We will keep you informed as this develops.