Where will carbon prices go? Is this a market I should know about? Where can I get expert information on all aspects to make an informed decision?
The writing is on the wall. Things in the agriculture sector are changing. Not just the weather, but markets and ‘social licence’ as well.
How do we ensure that farmers and other land managers/stewards are at the table – to help inform them on important decisions? CFA is committed to the clear and concise education of all those concerned with the land and around this new market.
This week we showcase a couple of important areas to be aware of:
Method development
Methods under the ERF are the set of rules and activities which must be adhered to in order to earn an Australian Carbon Credit Unit (ACCU). The Soil Carbon Method is one of these. These methods are LAW – they must be followed exactly, and are protected by legislation.
Methods have traditionally been developed by federal departments and also the Clean Energy Regulator (CER).
However, after the Chubb Review, (the comprehensive review of the whole system) any new ERF methods are to be ‘co-designed’ with proponents and others. Specifically:
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“The Review found the current method development process impedes timely and effective emissions re-ductions. It recommended an open “proponent-led” process, with the CAIC (a new body yet to be formed) involved in setting priorities for method endorsement and approval. Proponents could include research bodies, NGOs, governments, and project developers.”
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What might this mean? How this might work in practice is still in development, but we have asked a department representative to give us an update at the conference. Find a full summary of the Chubb Review findings here.
Budget news
While most of the $$ for agriculture have been in other announcements, it is now clearer where funds will be allocated. For our purposes, the NAB reports $20 million for a National Soil Action Plan and $302 million for ‘Climate Smart’ agriculture. You can read the NAB full Regional Budget Report here.
The DRAFT National Soils Action Plan has been around for some time:
https://haveyoursay.agriculture.gov.au/soil-action
Will farmers be well served by this plan? How many know about it? How will it be useful for the ‘man on the land’?
Are there any linkages between soil health and carbon as a KPI for soil health? If soil carbon projects are to be a major contributor to Australia’s mitigation efforts, should they be assisted by the might of a national soils plan funded by $20 million in the budget?
To help us understand how this might work, we have invited a representative from the office of the National Soils Advocate to speak to us at the Soil Carbon Summit.
So many other exciting things are coming to light as I build a fabulous conference for your education and insight. Including a new session called:
Keeping red meat profitable in the new carbon economy
We’ll have presentations from some high-profile innovators in both the sheep and cattle industries. STAY TUNED for that, and remember you can’t see them unless you register for the conference!!
Onwards!
Expert, independent knowledge on how to access carbon and biodiversity markets, in plain English. Register now for Early Bird rates!
Monday 17–Wednesday 19 July 2023