What is the Emissions Reduction Fund?
How do projects access funding from the Emissions Reduction Fund?
What obligations are there?
There are no obligations for the landholder at the project registration stage, or even after a successful auction result. This means that the landholder may elect not to proceed with the project. However, once a decision to proceed has been made, the main obligations relate to project implementation (baseline soil carbon testing, new management activity to build soil carbon, and project reporting), and to maintaining the stored carbon over a period of 25 years, after which there are no further obligations for the landholder.
What obligations exist when transferring or change of use of the land within the 25 year period?
- option to assign to RAF’s partner Corporate Carbon (who would carry the relinquishment risk from sale of land or change of land use activity to obviate the need for landholder having to pay back credits)
- no need for registration of carbon project on land title
- novation of contract to the new landholder.
How do projects participate in the Emission Reduction Fund Auction?
What are the Soil Carbon Methodologies (Determinations)?
NEWSFLASH 7/2/18: The new Soil Carbon Agricultural Systems Method has just been released. This is great news as its much more flexible, expanded coverage of agricultural enterprises, simpler and more cost effective.
How can I participate in the ERF?
Were there any soil carbon projects in the previous ERF Auctions
Who is part of the carbon delivery team?
Regenerative Australian Farmers and its partners will identify suitable project areas and design and assist with the necessary activities to build carbon stores in the soil. Corporate Carbon will interface with the Clean Energy Regulator to register projects, secure ERF contracts and manage the resulting contractual obligations.
Why participate now?
What are the next steps?
- Register an Expression of Interest (EoI) with the carbon team (RAF or Corporate Carbon as service delivery providers) to undertake an emissions reduction project, such as a soil carbon project on grazing land. Main information requirements at this stage are the property address, size and farming practices over the past five years (see EoI form)
- The team will then discuss the potential project(s) and contact the landholder if further information is required. Corporate Carbon will complete a conditional project registration with the Clean Energy Regulator
- Project financial needs and the best auction strategy will be determined in conjunction with the carbon delivery team, including the project funding model (net amount per carbon unit to be paid to landholder)
- If the project is successful in the ERF auction a detailed implementation plan (based on existing template) will be developed in conjunction with the landholder. This will include options around staging and scale of project implementation and an update on any improved measurement approaches. The landholder only needs to make a decision to proceed with project implementation at this point as they still have the option to withdraw.
- Following a decision to start and the formalisation of an abatement sale contract with Corporate Carbon, the broader carbon delivery team will commence activities such as soil baseline testing and soil carbon management activities.
- Corporate Carbon will manage the ERF contract with the Regulator and pay the project for ACCUs created.
There are no obligations for the landholder at all for steps 1-4 above. However, once a decision to proceed with the project has been made, the main obligations relate to project implementation and to maintaining the stored carbon over a period of 25 years, assuming there is no change in land ownership or land use.