First Plantation Forestry Project – Forico
In a first for the Australian plantation forestry sector, CO2 Australia assisted Forico to register a project using the Plantation Forestry method under the Australian Carbon Credit Unit (ACCU) Scheme.
Acting as Forico’s ACCU Scheme agent, CO2 Australia has also secured the first Carbon Abatement Contract for a project of this type, locking in ten years of forward ACCU sales revenue for the project. The project will see Forico transform 630 hectares into a new project based on developing long-term pine plantations. In total, the project is expected to deliver up to 68,959 tonnes of CO2e abatement over ten years.
Client
Forico
Location
Launceston, NSW
Dates
2018 – 2043
Industry
Timber
Services
Project registration, ACCU Scheme agent, tree measurement, reporting
Key benefits
First registration and Carbon Abatement Contract under the Plantation Forestry method
Ten years of secured revenue from ACCU sales
>68,000 tCO2e abatement
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