Location: Bourke NSW
Method: Avoided Deforestation
The Mount Oxley Native Forest Protection project aims to avoid emissions being released by protecting 7,279 hectares of native forests from planned deforestation. The native forest could be lawfully cleared under the authority of the Property Vegetation Plan (PVP), which the landowner has had since 2008.
The project follows strict guidelines as set out in the Avoided Deforestation Methodology under the Emissions Reduction Fund.
Landowner Mr Lindsay Newton attained the clearing permit with the aim of clearing large areas of native forest to increase grazing capacity and grass cover to feed stock. However since hearing about carbon farming, Mr Newton made the decision not to clear the vegetation in return for a long-term income stream from carbon credits.
Under the Emissions Reduction Fund, Mr Newton is eligible to receive carbon credits due to avoiding deforestation and agreeing to keep carbon stored in native vegetation for perpetuity.
Select Carbon was able to quantify and verify the carbon stored in the vegetation, reporting this data in to the government to claim carbon credits. The landowner then went on to enter into a Emissions Reduction Fund Auction, successfully securing a 10-year contract to sell carbon credits and thus providing Mr Newton with an alternative long-term income stream.
Select Carbon (SC) is an authorised representative (CAR 001269062) of Carbon Farmers of Australia Pty Ltd (ABN 33 136 799 221, AFSL 430135). SC is authorised to provide financial services to wholesale clients (within the meaning of the Corporations Act 2001).