General Information

[Q28, Q31]Own Project | Minding the Carbon Store was an Avoided Deforestation project, and provided a working example for this project type which has attracted global attention.

The opportunity for the project arose due to the Queensland Government announced an end to broadscale clearing of remnant vegetation to take effect at the end of 2006 and issued 500,000 hectares of clearing permits which could be exercised in the run up to the ban coming into effect. These permits were keenly sought after by Queensland landowners who could significantly increase the financial value of their land by clearing.

The project paid landowners not to exercise their permits, and instead to register an agreement on their land titles protecting the vegetation for 120 years and including a land management plan. Rio Tinto Aluminium were the project sponsor and cornerstone purchaser.

Price per tonne of CO2e [Q30] N/A

Project Type(s) [Q32] - Avoided deforestation

Project Location(s) [Q33, Q34]Australia | QLD

Project Size (tonnes of CO2e) [Q35] Total Greenhouse FriendlyThe Greenhouse Friendly™ initiative operated between 2001 and 30 June 2010. It certified carbon neutral products and services and approved abatement credits for sale on the voluntary market. Applications for new abatement projects have closed. These were not considered eligible offsets under NCOS and could not be retired for the purpose of becoming carbon neutral under the NCOS from 1 July 2010. This situation may change in future as a result of reviews of the NCOS by DCCEE. approved abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. over the first five years of the project was 1.28 million tonnes CO2-eA standard measure that takes account of the different global warming potentials of greenhouse gases and expresses the cumulative effect in a common unit. . Since 20% of the abatement has been reserved for risk management the project generated a little over 1 million tonnes CO2eCarbon dioxide equivalent. In order to compare emissions between the six Kyoto Protocol greenhouse gases they have been assigned a global warming potential (GWP) measured in carbon dioxide equivalents to reflect their influence on warming the atmosphere. GWP is a relative scale, where CO2 = 1. The other gases are given a number based on their effect on the atmosphere relative to CO2. For example, methane has a GWP of 21, meaning it has 21 times the amount of heating capacity of CO2. tradable abatement.

[Q32a]- Yes, our operations aim to embrace private landholders in select regions

Quality

[Q36]- 1 Dec 2006[Q37]- These credits have an infinite life and are retired as they are used.[Q41]

- No

[Q42]- The project achieved significant biodiversity conservation and landscape benefits, including through conserving local occurrences of species with high conservation value. The project was also a pioneering piece of work in Avoided Deforestation which is being actively considered for inclusion under the Kyoto Protocol. Roughly 20% of global greenhouse gas emissions come from deforestation and forest degradation and the company is actively involved in further projects in Indonesia and elsewhere. [Q43]- Offset is only sold as verified emission reductions (retrospectively accrued)[Q44]- Greenhouse FriendlyThe Greenhouse Friendly™ initiative operated between 2001 and 30 June 2010. It certified carbon neutral products and services and approved abatement credits for sale on the voluntary market. Applications for new abatement projects have closed. These were not considered eligible offsets under NCOS and could not be retired for the purpose of becoming carbon neutral under the NCOS from 1 July 2010. This situation may change in future as a result of reviews of the NCOS by DCCEE. abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. is tracked by the the DCCEECommonwealth Governemnt Department of Climate Change and Energy Efficiency. For more information see http://www.climatechange.gov.au/ : greenhousefriendly@climatechange.gov.au
[Q45]- We transfer the abatement into the clients name to retire at their convenience[Q46]- Evidence of registry transaction (For example, personalised account, physical copy of transaction etc.)