Bendigo Bank

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    Primary activity : Project developerThe person or organisation that set up an offset generating project for the purpose of selling carbon offsets and reducing greenhouse gas emissions. , RetailerCarbon offset retailers either fund or purchase carbon offsets in large quantities and then on sell them to individual consumers in smaller quantities.    Price (per tonne CO2e) : AU$11 - AU$20

    Summary

    Bendigo Bank's view on the role of carbon offsets in addressing climate change

    "Carbon Offsets allow customers to take responsibility for the emissions that they cause or those that they are unable to avoid through other means. Carbon Offsets are one solution in the Generation Green suite which includes green home loans and green personal loans. Green loans encourage customers to reduce their impact on the environment through using less energy and water in their home or vehicle. "


    Detailed InformationClick on the tabs below for more information:

    Summary

    Role in the Carbon Offset Market
    [Q1]Project developer, Retailer
    Main client base
    [Q3]Retail customers, Corporates and Local government

    Offset Products

    Offset Products

    Price(s) per tonne
    [Q17]AU$11 - AU$20
    Project Type(s)
    [Q23]- Afforestation / reforestation with multiple locally occurring species of vegetation
    Project Location(s)
    [Q27]- Domestic
    Are offsets packaged with other services (such as footprinting, carbon neutrality etc)?
    [Q10]No

    [Find out more about project types]

    Offset Quality

    Offset Quality

    Organisation is licensed to provide financial advice (or to be an authorised representative in providing financial advice) in the context of brokerage of carbon commodities
    [Q23a]Information not provided
    Offsets generated and sold by Bendigo Bank
    [Q33a]Non-accredited forestry offsets
    How does your organisation calculate the amount and price of carbon offset required by customers?
    [Q10]- Personal contact from clients with specific needs for type of offset and tonnage
    Do you provide quality assurance or technical documentation on your web site or on request?
    [Q16]

    http://www.bendigobank.com.au/public/generationgreen/carbon_offsets/inde...

    Is your organisation audited by an independent third party for the sale and retirement of offsets and / or RECs?
    [Q16b] No
    Does your organisation supply National Carbon Offset Standard (NCOS) or NCOS compliant abatement to customers from 1st July 2010?
    [Q18] No
    [Q19]
    What evidence of purchase can customers expect to receive when buying carbon offsets from your organisation?
    - Certificate for amount of offset purchased
    - Tax Invoice
    What documentation is available to customers about the carbon offset project/s as part of the education and quality assurance process?
    [Q22]- We do not supply independent documentation to customers
    - Information not supplied


    [Find out more about issues relating to offsetting]
    [Find out more about Certification Standards]

    Resources

    Resources

    Do you provide a carbon footprint calculation service for your customers?
    [Q12]- No
    Other carbon management services
    [Q11]- Gifts
    - Green Home and Personal Loans

    [Find out more about carbon offsetting]

    Projects

    Project Information

    Natimuk | VIC VIC Afforestation / reforestation with multiple locally occurring species of vegetation Non-accredited forestry offsets

    General Information

    [Q22, Q25]

    Own Project | Native vegetation re-establishment in one of Victoria's most endangered EVC


    Price per tonne of CO2e
    [Q24]

    $15

    Project Location(s)
    [Q27, Q28]Australia | VIC
    Project Size (tonnes of CO2e)
    [Q29] 7,000 tonnes during the 30 year growth period

    Quality

    Date project started to generate verified emission reductions (VERs) / offset credits
    [Q31]- 1 Aug 2008
    Crediting period of the project (in years)
    [Q32]- 30 years
    Accreditation or certification achieved as at May 2010
    [Q33a]- Non-accredited forestry offsets
    Relevant third party verification (not accreditation / certification)
    [Q35]

    - Greenhouse friendlyGreenhouse Friendly 'The Greenhouse Friendly™ initiative has been operating since 2001 to certify carbon neutralA voluntary mechanism where an activity, event, household, business or organisation is responsible for no net emissions of greenhouse gases and can therefore be declared carbon neutral in that specific area. Carbon neutrality can be achieved by reducing emissions as far as possible (e.g. energy efficiency, purchasing renewable energy) and then purchasing offsets for any residual emissions in order to achieve zero net emissions. products and services and approve abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. credits for sale on the voluntary market, including to Greenhouse Friendly™ certified product and service providers. Introduction of the Carbon Pollution Reduction SchemeAustralia's cap and trade scheme which will come in to effect in 2010. The CPRS will place a limit, or cap, on the amount of carbon pollution industry can emit and allow trading of carbon credits. It will concentrate on the biggest polluters, by placing obligations on around 1000 Australian companies in total. However it will effect all Australians through indirect price increases. (the Scheme) has implications for Greenhouse Friendly™. The Scheme will have broad sectoral coverage, which means there will be less scope to pursue offset activities with offsets limited to emissions sources uncovered by the Scheme. This means the Scheme will impact on the types of abatement that can be provided, because abatement in sectors covered by the Scheme will no longer be additional to “business as usual”. For these reasons Greenhouse Friendly™ will wind up on 1 July 2010. Greenhouse Friendly™ certification of carbon neutral products and services will continue to operate until 1 July 2010. Applications for new abatement projects have closed. Abatement may be generated by current Greenhouse Friendly™ abatement providers up to 1 July 2010, and may still be sold and purchased after that date. methodology applied by accredited assesor

    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- No
    Do you forward sellThe sale of carbon offsets for emissions reductions or sequestration that have not yet occurred and therefore can not be precisely measured. abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. from this project
    [Q38]- Only forward sold abatement
    The registry on which offsets from this project are registered
    [Q39]- No registry of offsets take place.
    The process for retiring offsets from this project off the market
    [Q40]- The offsets are retired concurrently at the time of purchase by our customer
    How is the retirement of abatement verified to your client?
    [Q41]- Tax Receipt
    - Certificate (with amount of abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. purchased)
    The ancillary or co-benefits of this project
    [Q42]- Conservation and biodiversity outcomes

    Reforestation - Central Tasmainia | TAS TAS Afforestation / reforestation with multiple locally occurring species of vegetation Non-accredited forestry offsets

    General Information

    [Q22, Q25]

    Own Project | Native vegeation re-establishment in one of Tasmania's most endangered EVC


    Price per tonne of CO2e
    [Q24]

    AU$15

    Project Location(s)
    [Q27, Q28]Australia | TAS
    Project Size (tonnes of CO2e)
    [Q29] 1,000 tonnes during the 30 year growth period

    Quality

    Date project started to generate verified emission reductions (VERs) / offset credits
    [Q31]- 1 Oct 2009
    Crediting period of the project (in years)
    [Q32]- 30 years
    Accreditation or certification achieved as at May 2010
    [Q33a]- Non-accredited forestry offsets
    Relevant third party verification (not accreditation / certification)
    [Q35]

    - Non-accredited forestry offsets

    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- No
    Do you forward sellThe sale of carbon offsets for emissions reductions or sequestration that have not yet occurred and therefore can not be precisely measured. abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. from this project
    [Q38]- Only forward sold abatement
    The registry on which offsets from this project are registered
    [Q39]- No external registration takes place.
    The process for retiring offsets from this project off the market
    [Q40]- The offsets are retired concurrently at the time of purchase by our customer
    How is the retirement of abatement verified to your client?
    [Q41]- Tax Receipt
    - Certificate (with amount of abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. purchased)
    The ancillary or co-benefits of this project
    [Q42]- Habitat restoration; water quality improvements

    Macedon Ranges | VIC VIC Afforestation / reforestation with multiple locally occurring species of vegetation Non-accredited forestry offsets

    General Information

    [Q22, Q25]

    Own Project | The project seeks to reinstate as far as possible the pre 1750 Ecological Vegetation Class (EVC) as determined by the Department of Sustainability and Environment, using local provenance seed. The project uses a mixture of establishment techniques, including tubestock planting and direct seeding. The carbon on the project site is secured through the use of a private forestry agreement. This project site is approximately 70 hectares in size. Carbon is calculated ex-ante, and will be sequestered over the lifetime of the project.


    Price per tonne of CO2e
    [Q24]

    AU$11

    Project Location(s)
    [Q27, Q28]Australia | VIC
    Project Size (tonnes of CO2e)
    [Q29] Approximately 20,000 over the lifetime of the project.

    Quality

    Date project started to generate verified emission reductions (VERs) / offset credits
    [Q31]- 1 Jan 2007
    Crediting period of the project (in years)
    [Q32]- 99 years
    Accreditation or certification achieved as at May 2010
    [Q33a]- Non-accredited forestry offsets
    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- No
    Do you forward sellThe sale of carbon offsets for emissions reductions or sequestration that have not yet occurred and therefore can not be precisely measured. abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. from this project
    [Q38]- Only forward sold abatement
    The registry on which offsets from this project are registered
    [Q39]- No external registry takes place.
    The process for retiring offsets from this project off the market
    [Q40]- The offsets are retired concurrently at the time of purchase by our customer
    How is the retirement of abatement verified to your client?
    [Q41]- Tax Receipt
    - Certificate (with amount of abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. purchased)
    The ancillary or co-benefits of this project
    [Q42]- The project offers significant co-benefits including the provision of biodiversity, and water quality services, reduced erosion (the site had several areas of active erosion prior to project implementation). The project also offers significant land systems benefits, reducing water infiltration in a high salinity recharge area.

    Contact Details

    Contact Details

    For more information please contact:

    Bendigo Bank
    www.bendigobank.com.au/generationgreen
    1300 304 541
    Customers can purchase Carbon Offsets from any Bendigo Bank branch across Australia.