CMI welcomes today’s announcement from the Morrison Government to finalise and introduce a new carbon farming methodology that can assist farmers in recognising the carbon, as well as broader economic and productivity benefits that can come from actively managing the land.
Identified by the federal government as a priority methodology for this year, the new Emissions Reduction Fund (ERF) method will integrate intentionally conservative modelling estimates with physical measurements, providing another layer of rigour and integrity to the reporting process.
“This is a positive step in making it simpler for farmers to engage and participate and earn revenue for carbon stored in their soils, while importantly being based on a credible and conservative system of verification and integrity,” said CMI CEO John Connor.
“We congratulate the work of CMI members involved in the co-design process with the government in the development of this method, alongside the Clean Energy Regulator, Emissions Reduction Assurance Committee, and other potential end-users, scientists and technical experts.”
“There are nearly 200 Soil Carbon projects already registered with the Clean Energy Regulator and another 900+ projects in the pipelines nationwide. We look forward to further developments in the area of soil carbon, in addition to other methodologies being developed.”
The Carbon Market Institute is the independent industry association for business leading the transition to net zero emissions. Its over 120 members include primary producers, carbon project developers, Indigenous corporations, legal and advisory services, insurers, banks and emission intensive industries developing decarbonisation and offset strategies.
To interview John Connor please contact Thomas Hann on 0408880536 or via email: thomas.hann@carbonmarketinstitute.org
