General Information

[Q22, Q25]

Own Project | Carbon Sequestration Project
For a forest to be eligible to create abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. certificates in GGASSee The NSW Greenhouse Gas Abatement SchemeNew South Wales Greenhouse Gas Abatement Scheme commenced on 1 January 2003 and targets are set until 2012. It is one of the first mandatory greenhouse gas emissions trading schemes in the world. GGAS aims to reduce greenhouse gas emissions associated with the production and use of electricity. For more information see here. , it must meet the definition of afforestationThe direct human-induced conversion of land that has not been forested for a period of at least 50 years to forested land through planting, seeding and/or the human-induced promotion of natural seed. or reforestationThe reestablishment of forest on land that was previously forested but converted to another use before 31.12.1989. that is specified by the United Nations Framework Convention on Climate ChangeThe United Nations Framework Convention on Climate Change was established in 1992 at the Rio Earth Summit and currently has 189 signatory countries. It is aimed at stabilising atmospheric concentrations of greenhouse gasesGreenhouse Gases in the earth's atmosphere absorb and re-emit infrared radiation. The Kyoto Protocol lists six major greenhouse gases, which vary in their relative warming effect. The six gases are: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), HFCs (hydrofluorocarbons), PFCs (perfluorocarbons) and sulphur hexafluoride (SF6)... The activity must take place on Kyoto-Consistent Land, that is, land that was predominantly non-forest prior to 1 January 1990. Only sequestration that takes place after 1 January 2003 may be accounted for and eligible to create abatement certificates under GGAS.
There is a one hundred year minimum level of permanency required under the Regulation for continued storage of carbon. To satisfy this timescale of permanency, a ‘Restriction on Use’ legal instrument is entered between the landowner, the Sequestration Pool Manager and the Scheme Administrator.
The Carbon Sequestration Rule acknowledges a wide scope of forestry activities as eligible to create abatement certificates. In terms of forest size, the minimum specifications are:
- 0.2 hectare land mass;
- 20 per cent crown cover of land mass; and
- 2m height capacity of tree species.
A range of forestry management practices are possible under GGAS. Permanent forestry, forests planted with no intent of harvest, is one accepted method of forestry management. Depending on the scale of forestry activities, the Sequestration Pool Manager, which in this case is Forests NSW, may also achieve permanent carbon storage whilst rotating the harvest of plantations in the sequestration pool.

Price per tonne of CO2e [Q24] > AU$5 large scale purchases only

Project Location(s) [Q27, Q28]Australia | NSW

Project Size (tonnes of CO2e) [Q29] Around 600,000 tonnes per year CO2-eCarbon dioxide equivalent. In order to compare emissions between the six Kyoto Protocol greenhouse gases they have been assigned a global warming potential (GWP) measured in carbon dioxide equivalents to reflect their influence on warming the atmosphere. GWP is a relative scale, where CO2 = 1. The other gases are given a number based on their effect on the atmosphere relative to CO2. For example, methane has a GWP of 21, meaning it has 21 times the amount of heating capacity of CO2. Over 2.5 million NGACsNew South Wales Greenhouse Gas Abatement Certificate is a tradeable commodity used in the NSW GGAS. One NGAC represents the abatement of one tonne of CO2e associated with the consumption of electricity in NSW. NGACs are transferable certificates that may only be created by accredited abatement certificate providers. created to date

Quality

[Q31]- 31 Jan 2005[Q32]- There is no standard ‘crediting period’ as such for GGAS. Accreditation is maintained by complying with various ongoing requirements such as annual reporting. Additionally, there may also be annual, bi-annual or tri-annual audits etc. Changes must be notified to GGAS and this may necessitate re-assessment.[Q33a]- NSW Greenhouse Gas Abatement SchemeNew South Wales Greenhouse Gas Abatement Scheme commenced on 1 January 2003 and targets are set until 2012. It is one of the first mandatory greenhouse gas emissions trading schemes in the world. GGAS aims to reduce greenhouse gas emissions associated with the production and use of electricity. For more information see here. NGACsNew South Wales Greenhouse Gas Abatement Certificate is a tradeable commodity used in the NSW GGAS. One NGAC represents the abatement of one tonne of CO2e associated with the consumption of electricity in NSW. NGACs are transferable certificates that may only be created by accredited abatement certificate providers.
[Q35]

- n/a

[Q36]

- No

[Q37]- No[Q38]- Offset is only sold as verified emission reductions (retrospectively accrued)[Q39]- New South Wales Greenhouse Gas Registry
[Q40]- We transfer the abatement into the clients name to retire at their convenience[Q41]- Evidence of registry transaction (For example, personalised account, physical copy of transaction etc.)
[Q42]- Reforestation often occurs on degraded farm land. Reforestaion results in improvements to soil health, water quality and the enhancement of animal habitat.