And now forest credits!

Hot on the heels of the savanna sale comes the first credits issued for a forestry project!

The Newmont Australia Reforestation Project in NSW and WA was issued credits by the Clean Energy Regulator on 3 June 2013. Note that projects can span across different areas in different states.

The Newmont project uses the Reforestation and Afforestation Methodology which calculates the amount of carbon credits by directly measuring trees in sample plots, rather than through the online CFI Reforestation Modelling Tool

The projects that have the best chance on Aboriginal land are savanna and sequestration (or carbon storage) projects such as rangelands (less cattle, more management), enrichment (bush foods and sequestration) and forestry. The credits from savanna and forestry this week show it is happening.


First savanna sale!

Caltex has bought the first carbon credits from a savanna project - around $0.5m for 28,000 credits from the Fish River Fire Project in the NT - this SBS story brings it to life. The Clean Energy Regulator previously issued the first carbon credits for savanna burning in May.

This is great news for savanna burning and Indigenous projects - it can be done! The Fish River Project has now achieved registration, reporting, auditing, crediting and sale under the CFI, not to mention a whole lot of work on the ground - well done traditional owners and Indigenous Land Corporation!