If last week is anything to go by, this year is going to be busy!
We report on two important news events for the Nature-Based Solutions fraternity for last week, to remain on top of all the happenings:
1. The Chubb Review came out
In case you are still bleary-eyed from too much sun/sand/holidays, let me remind you… The Chubb Review was commissioned by the government to have a ‘jolly good look’ (my words) at the whole ACCU (Australian Carbon Credit Unit) system. Top to bottom:
- The methods – i.e. the rules around any particular project. Especially looking at forestry and the soil carbon methods
- Do they hold integrity? Are they transparent enough, etc? Such that buyers can be sure they are additional carbon sequestered, not just business as usual
- Who should be able to develop such important things? (currently enacted by the Clean Energy Regulator)
- Should there be more regulation?
- And other matters.
This review found that the crediting framework was sound. Meaning that for those of us wishing to register carbon farming projects in soils and trees and avoid methane emissions using ERF methods we can have confidence in moving ahead. There were 16 recommendations to strengthen the system.
In our view, the Chubb Review recommendations, when implemented, will strengthen the integrity of the ACCU in the marketplace. A timely look at the system to ensure it is future-proof. Not just that, but the methods could become easier to design and have better ‘plain English’ explanations.
Stay tuned for how the Chubb Review recommendations will be assimilated into the overall architecture of the legislation, and of course we’ll be updating everyone at the conference.
Here is the link to the Carbon Market Institute (the carbon market’s highly respected peak body) Review Summary:
2. The SAFEGUARD mechanism news:
Are you familiar with this? Let me explain. It was an election promise from the Government that they would implement legislation that will compel Australia’s largest emitters (oil and gas, mining, manufacturing, transport, etc) to measure their current emissions (baseline) and commit to certain reductions over time which align with the Governments net zero by 2050 goals.
It applies to facilities that emit over 100,000 tonnes of CO2e per year. Which is about 26 entities. These facilities will be able to earn a specific reduction unit (not an ACCU) for reducing their emissions. And they will be able to trade these units amongst themselves if one facility cannot meet the target but another one can do great reductions. It is out for consultation at the moment.
It does not directly affect farmers/landholders wishing to undertake ERF projects, but will be important to keep our eye on. Polluters who exceed their baselines may also be able to surrender ACCUs to comply, with a potential effect on demand for ACCUs.
And in other exciting news:
Take a look at these articles I found while doodling around researching topics to make sure the Inaugural Nature-Based Solutions Conference & Expo will bring you the latest and most relevant topics for farmers, landholders, and relevant stakeholders.
The textile industry is getting serious about lowering its overall effect on the planet: https://textileexchange.org/app/uploads/2022/01/Regenerative-Agriculture-Landscape-Analysis.pdf. I found this quite an extraordinary piece of work. How good that they are even using the regenerative farming name! Not everyone understands yet.
Yes, it’s quite long. Great read, but their core recommendations can be found from page 74 onwards.
Get a load of this piece, published this month in The Land. The rise and rise of the understanding of the importance of the soil that feeds us continues:
Just a teaspoon of soil boasts more living organisms than there are people on earth, and now they are to be judged at your local show – just like other prized farm livestock.
To cultivate greater understanding of the value of those microorganisms and their untapped potential, agricultural show societies are about to combine their efforts to grow youth awareness of our soils.
Funding for a new soils learning and competition program will soon be available at every agricultural show in Australia.
The Grains, Oilseeds, Pulses and Soils Learning Program will use competitions to give young people aged up to 25 the opportunity to understand more about soil quality and its importance to the entire rural sector.
The program has been developed by Agricultural Shows Australia, the peak body overseeing 572 shows around the nation.
The ASA will urge local shows to host the competitions within the newly developed guidelines and provide “how to guides”, and also help Royal shows and state bodies host finals.
A successful competition trial was run at the Royal Adelaide Show in September 2022.
A $3000 grant will also be available from ASA to Royal shows and state entities to kick start statewide competitions.
The competition format runs for 40 minutes, requiring entrants to use a variety of techniques to determine a soil type and its key features.
They deliver their verdict during two minute presentations, with the winner’s title presented to the competitor who comes the closest to the official soil classification.
To learn more about the grains and soils competition, and the funding opportunities, visit agshowsaustralia.org.au.
YAY. Any soil awards are a good incentive to just learn more about how the earth sustains us.
And in a final misquote, I say, “Lead on, Macbeth!”
You get my meaning…
Want to improve your land AND earn carbon credits?
Find out how to do that and much more at the inaugural
Monday 17–Wednesday 19 July 2023