Natural Carbon celebrates issuance of millionth ACCU
The following article was originally published on the Natural Carbon website, here.
Australian carbon farming project developer, Natural Carbon, is celebrating the issuance of its millionth Australian carbon credit unit (ACCU) since it began assisting landholders with carbon reduction projects in 2014.
The milestone was reached at the end of the 2019 financial year following the issuance of savanna credits relating to the 2018 fire season. It's a figure that will continue to grow by around 300,000 ACCUs annually, as Natural Carbon continues working with communities and landholders to reduce emissions and deliver returns to land owners.
"Natural Carbon is proud to unlock sustainable agriculture and reduce emissions through sustainable land management, with benefits for Indigenous prosperity, food security and resilient communities," said Julien Gastaldi, general manager at Natural Carbon.
Gastaldi added that the company looks forward to contributing to the Queensland Government's Land Restoration Fund, and will continue working with project owners to generate ACCUs following the Australian Government's announcement of an additional $2 billion for carbon abatement under the Climate Solutions Fund earlier this year.
Natural Carbon currently assists 18 carbon projects in the Northern Territory and Queensland; 12 are currently generating ACCUs, and a further six are under development. Together, these projects cover one million heads of cattle and 20 million hectares of land in an area roughly the size of Victoria.
The Climate Solutions Fund (formerly Emissions Reduction Fund) is a voluntary scheme run by the Australian Government that provides incentives for a range of organisations and individuals to adopt new practices and technologies to reduce their emissions.
When Australian businesses, farmers or land managers achieve emission reductions under eligible projects, the Australian Government issues ACCUs (Australian carbon credit units), which can be sold to the government through a carbon abatement contract, or to other businesses seeking to offset their emissions. The scheme is part of the government's plans to fulfil Australia's 2030 Paris Agreement commitments.
South Pole Australia is a Natural Carbon consortium member.