Carbon trader and offset project developer Ecofund Queensland has this week sold 'a large volume of ACCUs' to undisclosed energy sector counterparties that will use them for compliance purposes, says its senior trader, Gregory Stanford.
The Gillard Government has approved four more methodologies for creating CFI carbon credits, with carbon sink forestry company CO2 Australia and a WA local government authority set to be among the beneficiaries.
In Australia's largest transaction of ACCUs so far, Queensland-based generator Stanwell Corporation will buy about 250,000 units, which are understood to have been sourced from eligible landfill gas projects.
* EEO trials underway for new projects and networks * First Victorian offsets project gains CFI approval * Senate to investigate extreme weather; Productivity Commission adaptation report likely next year
* Former NSW environment boss to lead EPBC committee on CSG and coal mines * Two more landfill gas projects cleared to create CFI credits * Recalcitrant landfill operator finally hands over levy payments * WA Parliament seeks urgent increase in sandalwood harvesting penalties * NSW issues guidelines on hazardous ground gases
The Coalition claims soil carbon projects could deliver more than half the abatement that its Emissions Reduction Fund would support in 2020, but a least-cost bidding process across all sectors would determine where the money actually goes, Shadow Climate Change Minister Greg Hunt has told CE Daily.
The WA EPA is seeking to address its concerns about increased land clearing in the Pilbara by proposing a new regional offset fund as an alternative to requiring miners and others to buy equivalent land for conservation purposes.