In total, 122 ha of native revegetation is covered by the agreement, securing an anticipated 30,660 tonnes of CO2 equivalent in the next 20 years* and protecting the forest and associated carbon for 100 years.
Greenfleet CEO, Sara Gipton commented “This is a groundbreaking development in sustainable land management. The ability to secure carbon rights for native forests gives investors confidence in the permanence of forest carbon and means there is viable a funding source to help revegetate vast areas of Australia’s degraded landscapes.”
“Biodiverse native forests, like those planted by Greenfleet, are obviously important for wildlife habitat but they are equally important for recapturing and storing greenhouse gases and building a natural resilience to climate change.”
“Greenfleet forests are funded by thousands of organisations and households around Australia, who choose to offset greenhouse gas emissions and take action on climate change. Securing carbon sequestration rights for our forests will provide additional confidence for these contributors and encourage more people to take action,” said Sara.
Landholder for the property, Paul Dettmann, has worked with Greenfleet over a number of years to revegetate several properties and supports the application to secure carbon rights on title.
“It is important for both the security of the carbon and the long term delivery of biodiversity outcomes that carbon rights are officially recognised on property title” said Paul.
In the coming months, Greenfleet will apply to secure carbon sequestration rights under the Climate Change Act for all eligible revegetation projects in Victoria.
* Using NCAT models, which tend to be conservative in modelling carbon captured by biodiverse forests.
Greenfleet is a recognised leader in forest abatement, offsetting emissions for business and the community, and was the first not-for-profit forestry organisation to become an Approved Abatement Provider under the former Greenhouse Friendly™ programme.
A registered environmental charity, Greenfleet exists to make a difference, not a profit. Since 1997, Greenfleet has planted more than 7½ million native trees to restore biodiverse forests around Australia. We encourage organisations and individuals to AVOID and REDUCE greenhouse gas emissions, then OFFSET any remaining emissions by planting native forests.
Greenfleet’s forests take carbon from the atmosphere to tackle climate change, but they also do much more. We plant a variety of native trees in permanent forests that help to reduce salinity and soil erosion, provide essential habitat for native wildlife, and much more.
Find out more at www.greenfleet.com.au