Embargo: 6 am, 13 February 2012 13 February 2012
Practical guide to the Carbon Farming Initiative launched The Carbon Market Institute has launched a unique, practical guide to the Australian Government’s Carbon Farming Initiative (CFI). Implementing the Carbon Farming Initiative - A Guide for Business is a comprehensive tool designed to help anyone interested in the CFI understand and assess opportunities to participate. “This guide will be a must-have for anyone wishing to participate in the CFI,” says Carbon Market Institute executive director Mike Tournier. “Every farmer in Australia should have one on their kitchen table,” Tournier says. CMI commissioned international legal practice Norton Rose Australia and expert advisory and project development company RAMP Carbon to co-author the guide under the Institute's research program. “If you’re a farmer, forest grower, landholder or landfill operator looking to develop projects under the CFI, this guide takes you through all the steps, from project feasibility through to selling your credits” says RAMP Carbon director Phil Cohn. The guide provides: • • • •
an introduction to the CFI and its key concepts details of the roles and responsibilities of the key market participants in the CFI a detailed outline of the steps under the CFI, from project inception and design through to project implementation, and issuance of carbon credits an outline of market expectations and key issues for market participants on the buying and selling of CFI credits.
Norton Rose Australia national head of climate change Elisa de Wit says there is already strong interest from landholders who recognise the potential income stream from the CFI for the agriculture, farming and forestry sectors. “However participating in the scheme isn't as simple as saying I've got land available for the planting of trees,” she says. “Each and every project will require a methodology to be in place, administrative approval and then ongoing confirmation and verification that sequestration or emissions reduction is actually occurring.” De Wit says landholders can be proactive in looking to develop a project methodology and enter the market early while demand is high and supply is low.
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Embargo: 6 am, 13 February 2012
“But they ultimately need to consider whether their projects will generate enough credits to offset the cost of participation in the long term,” she says. “They must also protect themselves in their contractual arrangements with buyers against future price changes. This is particularly important given the market will move from a fixed to floating price in three years’ time.” The CFI commenced operation on 8 December 2011.
Implementing the Carbon Farming Initiative - A Guide for Business can be purchased via www.carbonmarketinstitute.org. Carbon Market Institute Members – free of charge. Non-members – $50 including GST per copy. Volume discounts are available for bulk orders. ends
For more information, please contact: Carbon Market Institute Phone: 03 9245 0900 Email: email@example.com
The Carbon Market Institute is an independent membership-based not-for-profit organisation. Our aim is to assist Australian businesses in meeting the challenges and opportunities associated with the developing national and international carbon markets and thereby build capacity to grow in a low-carbon world. Established with support from the Victorian Government, our Asia-Pacific wide membership represents a broad range of professionals, organisations and industry providers for whom carbon will have a direct impact on their businesses both in terms of liabilities and potential opportunities. The Institute has a strong research program and provides market analysis, education and training, business networking and information services and international engagement. CMI is also developing professional standards and an accreditation program. CMI incorporates and builds on the networks, partnerships and services developed by the former Asia-Pacific Emissions Trading Forum (AETF) which began operations in 1998. CMI commenced operation on 1 January 2011 with a mandate to assist Australian business with the implementation of climate-related markets, both in terms of managing risk and realising business opportunities.
The Carbon Market Institute is pleased to introduce a practical guide to the CFI, Implementing the Carbon Farming Initiative: A Guide...