SYDNEY, 24 February 2014 – GreenCollar Group is pleased to announce issuance of the first ever Australian Carbon Credit Units (ACCUs) for a Native Forest Protection project on a Western Lands lease.
This is a significant achievement for the GreenCollar Group and GCS who have been working closely with landholders in Western NSW for the last three years to develop forestry projects under the Carbon Farming Initiative (CFI).
GreenCollar Group is working with landholders to manage over 50,000 ha of Native Forest in Western NSW for carbon whilst maintaining traditional farm activities including grazing and cropping.
The ACCUs generated from these projects will be sold to companies with liabilities under the Carbon Pricing Mechanism as well as the Government’s new Emission Reduction Fund.
“The creation of these carbon credits represents a significant new income stream to farmers on Western Lands Leases. For farmers carbon credits are now an important part of the picture when making land use planning decisions,” said James Schultz, CEO of GCS.
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