As farmers and land managers examine the new structures of the Carbon Farming Initiative (CFI) that will lead to the generation of Australian carbon credit units (ACCUs), industry professionals say a perceived cloud of political and financial uncertainty, combined with a relatively limited list of approved methodologies, is causing potential project developers to approach potential developments slowly.
The CFI, which was launched last December, will implement certain national obligations under the Kyoto Protocol and the United Nations Framework Convention on Climate Change and also creates financial incentives to undertake emission avoidance and sequestration offset projects and increase carbon abatement in line with the protection of Australia’s natural environment. Thus far, four methodologies have been approved – capture and combustion of landfill gas, destruction of methane generated from manure in piggeries, environmental plantings, and savanna burning, while other methodologies are under consideration.
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