Ecofund Queensland

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    Primary activity : Project developerThe person or organisation that set up an offset generating project for the purpose of selling carbon offsets and reducing greenhouse gas emissions. , RetailerCarbon offset retailers either fund or purchase carbon offsets in large quantities and then on sell them to individual consumers in smaller quantities. , BrokerA broker is an intermediary, who buys and sells carbon offsets on behalf of clients.    Price (per tonne CO2e) : AU$0 - AU$50+

    Summary

    Ecofund Queensland's view on the role of carbon offsets in addressing climate change

    "Ecofund Queensland views carbon offsets as a mechanism to create education, awareness and investment in low-carbon projects that balance greenhouse gas emissions and create additional environmental benefits (such as habitat for biodiversity) to help tackle climate change.
    At Ecofund Queensland we offer an advisory and brokerage service that specialises in explaining what the carbon, renewable energy and environmental offset markets can mean for you. "


    Detailed InformationClick on the tabs below for more information:

    Summary

    Role in the Carbon Offset Market
    [Q1]Project developer, Retailer, Broker
    Main client base
    [Q3]Government clients, businesses, other organisations and individuals

    Broker

    Broker Information

    Types of transactions in carbon credits offered
    [Q23b]- Spot tradesThe purchase or sale of abatement (e.g. carbon offsets) for immediate delivery. Spot trades are settled "on the spot" (usually within one or two business days), as opposed to at a set date in the future. Futures transactions that expire in the current month are also considered spot trades. Spot trades are also known as "cash trades". Spot trades are the opposite of forward contracts.
    - Purchase for surrenderCarbon offsets are purchased and retired from the market by the offset provider.
    Standard brokerage fees determined by
    [Q24]- We have a minimum brokerage fee for our services
    - Our brokerage fees vary and are based on volume
    Indicative pricing
    [Q25]- 10% for 100 offsets
    - 5% for 1,000 offsets
    - 4% for 10,000 offsets
    Minimum tonnage required per transaction?
    [Q26]- None
    How is the retirement of abatement verified to your client?
    [Q27]- Registry transaction screenshot view (For example, by email)
    - Evidence of registry transaction (For example, personalised account, physical copy of transaction etc.)
    - Tax Receipt
    - Certificate (with individualised Serial Number/s of abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. to cross check at a later date)
    - Certificate (with amount of abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. purchased)
    Independent certification and/or third party documentation to prove the validity of all the different offsets that you provide available
    [Q28]- On request

    Offset Products

    Offset Products

    Price(s) per tonne
    [Q17]AU$0 - AU$50+
    Project Type(s)
    [Q23]- Energy Efficiency
    - Biomass
    - Methane landfill

    [Find out more about project types]

    Offset Quality

    Offset Quality

    Organisation is licensed to provide financial advice (or to be an authorised representative in providing financial advice) in the context of brokerage of carbon commodities
    [Q23a]No
    Offsets generated and sold by Ecofund Queensland
    [Q33a]- Greenhouse FriendlyGreenhouse Friendly 'The Greenhouse Friendly™ initiative has been operating since 2001 to certify carbon neutral products and services and approve abatement credits for sale on the voluntary market, including to Greenhouse Friendly™ certified product and service providers. Introduction of the Carbon Pollution Reduction Scheme (the Scheme) has implications for Greenhouse Friendly™. The Scheme will have broad sectoral coverage, which means there will be less scope to pursue offset activities with offsets limited to emissions sources uncovered by the Scheme. This means the Scheme will impact on the types of abatement that can be provided, because abatement in sectors covered by the Scheme will no longer be additional to “business as usual”. For these reasons Greenhouse Friendly™ will wind up on 1 July 2010. Greenhouse Friendly™ certification of carbon neutral products and services will continue to operate until 1 July 2010. Applications for new abatement projects have closed. Abatement may be generated by current Greenhouse Friendly™ abatement providers up to 1 July 2010, and may still be sold and purchased after that date.
    - Renewable Energy Certificiates RECsRenewable Energy Certificates in Australia are issued by the Australian Government's Office of Renewable Energy Regulator. They are equivalent to one-megawatt hour of renewable electricity. RECs can be bought and sold both by electricity retailers and by other businesses in order to meet the legal requirements of MRET.
    How does your organisation calculate the amount and price of carbon offset required by customers?
    [Q10]- Personal contact from clients with specific needs for type of offset and tonnage
    - Personal contact from customers wanting the service of carbon footprinting and (generic) offset purchase to achieve carbon neutrality
    - Ecofund Queensland manages a program called Reverse the Effect which allows Queensland motorists to calculate their average vehicle emissions and make a tax-deductable donation towards native tree planting projects that help expand Queensland's protected areas. See www.reversetheeffect.com.au
    Do you provide quality assurance or technical documentation on your web site or on request?
    [Q16]

    On request

    Is your organisation audited by an independent third party for the sale and retirement of offsets and / or RECs?
    [Q16b] RetirementIn the context of carbon offsets, this is the act of removing a carbon credit or permit from the market so that abatement cannot be traded any further. Retiring offsets helps to prevent the resale or reuse of offsets that have already been used. of RECSRenewable Energy Certificates in Australia are issued by the Australian Government's Office of Renewable Energy Regulator. They are equivalent to one-megawatt hour of renewable electricity. RECs can be bought and sold both by electricity retailers and by other businesses in order to meet the legal requirements of MRET.
    Audited: Quarterly for RECS (ORER) and Yearly for other offset products
    Does your organisation supply National Carbon Offset Standard (NCOS) or NCOS compliant abatement to customers from 1st July 2010?
    [Q18] Yes, NCOSNational Carbon Offset Standard. The National Carbon Offset Standard was released by the Commonwealth Government in November 2009, to come into effect on 1 July 2010 coinciding with the cessation of the Government’s Greenhouse Friendly program. It is intended to ensure that consumers have confidence in the voluntary carbon offset market and the integrity of the carbon offset and carbon neutral products they purchase. It provides guidance to businesses who wish to make their organisation carbon neutral or develop carbon neutral products in a way that achieves emissions reductions, through the purchase and retirement of carbon offsets that are beyond those achieved by the CPRS and achievement of Australia’s national emissions reduction targets. abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. (originated under this Standard only)
    [Q19]
    What evidence of purchase can customers expect to receive when buying carbon offsets from your organisation?
    - Certificate for amount of offset purchased
    - Certificate of RetirementIn the context of carbon offsets, this is the act of removing a carbon credit or permit from the market so that abatement cannot be traded any further. Retiring offsets helps to prevent the resale or reuse of offsets that have already been used. /Acquittal
    - Certificate of Transfer/Ownership
    - Serial numbers to identify offset units purchased
    - Tax Invoice
    What documentation is available to customers about the carbon offset project/s as part of the education and quality assurance process?
    [Q22]- Information not supplied


    [Find out more about issues relating to offsetting]
    [Find out more about Certification Standards]

    Resources

    Resources

    Do you provide a carbon footprint calculation service for your customers?
    [Q12]- Yes, personalised assessment
    Carbon calculation - methodology, standards or guidelines
    [Q13]- NGA FactorsThe National Greenhouse Accounts (NGA) Factors is an Australian guide to emission factors from a range of sectors that is used by companies to calculate greenhouse gases. It is prepared by the Department of Climate Change and replaces the AGO Factors & Methods Workbook. For more information, see here.
    - GHG ProtocolThe Greenhouse Gas Protocol. The GHG Protocol is an international accounting tool for government and business to understand, quantify, and manage greenhouse gas emissions. It has been developed by a partnership between the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD) and provides an internationally accepted accounting framework for GHG standards and programs, as well as inventories prepared by individual companies.
    - ISO 14000ISO 14000 is a set of international standards, which provide a framework for the development of an environmental management system (EMS) and supporting audit programs. The ISO 14000 series are intended to help organisations comply with applicable laws, regulations and requirements and to continually improve on their environmental performance.
    - ISO 14064A global GHG accounting, reporting and verification standard. The goal of the standard is to 'provide a set of unambiguous and verifiable requirements or specifications to support organisations and proponents of GHG emissions reductions projects.'
    - Carbon Trust’s PAS 2050PAS 2050 is a product carbon footprinting standard. It provides a method for assessing the GHG emissions arising from products across their life cycle, from initial sourcing of raw materials through manufacture, transport, use and ultimately recycling or waste. The Carbon Trust and Defra co-sponsored the publication by the British Standards Institution of PAS 2050.
    - National Carbon Offset Standard (NCOSNational Carbon Offset Standard. The National Carbon Offset Standard was released by the Commonwealth Government in November 2009, to come into effect on 1 July 2010 coinciding with the cessation of the Government’s Greenhouse Friendly program. It is intended to ensure that consumers have confidence in the voluntary carbon offset market and the integrity of the carbon offset and carbon neutral products they purchase. It provides guidance to businesses who wish to make their organisation carbon neutral or develop carbon neutral products in a way that achieves emissions reductions, through the purchase and retirement of carbon offsets that are beyond those achieved by the CPRS and achievement of Australia’s national emissions reduction targets.)
    - National Carbon Accounting Toolkit (NCATThe National Carbon Accounting Toolbox provides the tools for tracking greenhouse gas emissions and carbon stock changes from land use and management. )
    Do you apply National Greenhouse Accounts Factors full fuel cycle emissions conversion factors to calculate customer emissions?
    [Q14]- Yes
    In your calculation of customer emissions which of the 6 Kyoto Protocol greenhouse gases do you include?
    [Q15]- Carbon dioxideA greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomassBiomass is non-fossilized and organic biodegradable material that can be used as fuel or for industrial production. Most commonly, biomass refers to plant matter grown for use as Biofuels, but it also includes plant or animal matter used for production of fibres, chemicals or heat. Biomass may also include biodegradable wastes that can be burnt as fuel. , as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature.
    - MethaneMethane (CH4) is a greenhouse gas with a GWPGlobal warming potential (GWP) measured in CO2e, is the potency of greenhouse gases, meaning their ability to trap heat in the atmosphere, through the difference in time greenhouse gases remain in the atmosphere, and their effectiveness in absorbing outgoing infrared radiation. The GWP is a numerical measure relative to carbon dioxide, the most abundant greenhouse gas. So carbon dioxide itself has a GWP of 1 and, for example, methane has a GWP of 21. of 21.
    - Nitrous oxideAgriculture accounts for the majority of nitrous oxide (N2O) emissions in Australia, The transport sector also contributes to emissions of N2O. N2O has a high global warming potentialGlobal warming potential (GWP) measured in CO2e, is the potency of greenhouse gases, meaning their ability to trap heat in the atmosphere, through the difference in time greenhouse gases remain in the atmosphere, and their effectiveness in absorbing outgoing infrared radiation. The GWP is a numerical measure relative to carbon dioxide, the most abundant greenhouse gas. So carbon dioxide itself has a GWP of 1 and, for example, methane has a GWP of 21. of about 310 times that of CO2A greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomass, as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature..it breaks down very slowly – over about 120 years
    - Sulphur hexafluorideSulphur hexafluoride (SF6Sulphur hexafluoride (SF6) is a man-made chemical. The major sources of SF6 release include leakage from electrical switchgear, from magnesium smelting processes and use in semiconductor manufacture. It has by far the highest global warming potential (23,900 times that of carbon dioxide), however it is only released in relatively small amounts.) is a man-made chemical. The major sources of SF6 release include leakageIn relation to carbon offsets, leakage is the direct or indirect increase in GHG emissions from a greenhouse gas reduction project, which is also measurable and attributable to the project. from electrical switchgear, from magnesium smelting processes and use in semiconductor manufacture. It has by far the highest global warming potentialGlobal warming potential (GWP) measured in CO2e, is the potency of greenhouse gases, meaning their ability to trap heat in the atmosphere, through the difference in time greenhouse gases remain in the atmosphere, and their effectiveness in absorbing outgoing infrared radiation. The GWP is a numerical measure relative to carbon dioxide, the most abundant greenhouse gas. So carbon dioxide itself has a GWP of 1 and, for example, methane has a GWP of 21. (23,900 times that of carbon dioxideA greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomass, as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature.), however it is only released in relatively small amounts.
    - HydrofluorocarbonsMajor releases of HFCs are from leakageIn relation to carbon offsets, leakage is the direct or indirect increase in GHG emissions from a greenhouse gas reduction project, which is also measurable and attributable to the project. from refrigeration equipment during operation and its end-of-life destruction. Minor releases arise from the use of HFC-containing aerosols, air conditioners and metered dose inhalers.HFCs have very high global warming potentials (140 to 11,700 times that of carbon dioxideA greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomass, as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature.).
    - PerfluorocarbonsMost emissions of PFCsMost emissions of PFCs in Australia are generated during aluminium production. PFCs have extremely high global warming potentials (5000 to 10,000 times that of carbon dioxide). However, because they are only released in relatively small amounts, their contribution to global warming is minor. Due to their stability they have very long atmospheric lifetimes (thousands of years). in Australia are generated during aluminium production. PFCs have extremely high global warming potentials (5000 to 10,000 times that of carbon dioxideA greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomass, as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature.). However, because they are only released in relatively small amounts, their contribution to global warming is minor. Due to their stability they have very long atmospheric lifetimes (thousands of years).
    Other carbon management services
    [Q11]- Footprinting services
    - Advisory services
    - Carbon neutrality
    - Scoping customer emissions
    - Auditing
    - Emissions reductionA measurable reduction in the level of greenhouse gases being emitted by a country, state, organisation or individual. products and services e.g. sale of energy efficient products
    - Emissions monitoring
    - Measuring and reporting services for carbon abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. projects
    - Philanthropic corporate partnerships, as well as individual fund raising towards the expansion of national parks
    - Creating habitat and native forest carbon projects, capturing greenhouse gas emissions and enhancing biodiversity outcomes.

    [Find out more about carbon offsetting]

    Projects

    Project Information

    Energy Australia's Energy Efficiency Carbon Offset Project | QLD QLD Energy Efficiency Greenhouse Friendly (GHF)

    General Information

    This project is not owned by Ecofund Queensland | Free of charge residential CFLCompact fluorescent lampsCompact fluorescent lamps use less power and have a longer rated life than incandescent light bulbs and therefore use less energy across their lifecycle. use less power and have a longer rated life than incandescent light bulbs and therefore use less energy across their lifecycle. give-aways project.


    Price per tonne of CO2e
    [Q24]

    $4-$10


    Quality

    Accreditation or certification achieved as at May 2010
    [Q33a]- Greenhouse FriendlyGreenhouse Friendly 'The Greenhouse Friendly™ initiative has been operating since 2001 to certify carbon neutral products and services and approve abatement credits for sale on the voluntary market, including to Greenhouse Friendly™ certified product and service providers. Introduction of the Carbon Pollution Reduction Scheme (the Scheme) has implications for Greenhouse Friendly™. The Scheme will have broad sectoral coverage, which means there will be less scope to pursue offset activities with offsets limited to emissions sources uncovered by the Scheme. This means the Scheme will impact on the types of abatement that can be provided, because abatement in sectors covered by the Scheme will no longer be additional to “business as usual”. For these reasons Greenhouse Friendly™ will wind up on 1 July 2010. Greenhouse Friendly™ certification of carbon neutral products and services will continue to operate until 1 July 2010. Applications for new abatement projects have closed. Abatement may be generated by current Greenhouse Friendly™ abatement providers up to 1 July 2010, and may still be sold and purchased after that date.
    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- No

    Ecofund Queensland's GreenPower | QLD QLD Biomass Renewable Energy Certificates RECs

    General Information

    This project is not owned by Ecofund Queensland | National GreenPower program accredited renewable energy (bio-energy) project.


    Price per tonne of CO2e
    [Q24]

    $40-$60


    Quality

    Accreditation or certification achieved as at May 2010
    [Q33a]- Renewable Energy Certificiates RECsRenewable Energy Certificates in Australia are issued by the Australian Government's Office of Renewable Energy Regulator. They are equivalent to one-megawatt hour of renewable electricity. RECs can be bought and sold both by electricity retailers and by other businesses in order to meet the legal requirements of MRET.
    Relevant third party verification (not accreditation / certification)
    [Q35]

    - The Australian Government have pledged to recognise GreenPower RECsRenewable Energy Certificates in Australia are issued by the Australian Government's Office of Renewable Energy Regulator. They are equivalent to one-megawatt hour of renewable electricity. RECs can be bought and sold both by electricity retailers and by other businesses in order to meet the legal requirements of MRETMandatory Renewable Energy Target. The Australian Government has a policy commitment of a 20 percent share for renewable energy in Australia's electricity supply by 2020.. as additional to Kyoto commitments by matching GreenPower (each REC) purchases with surrenderIn an ETSAn ETS is an organised system of emissions trading that can be applied within businesses, states, countries and also internationally. Through an ETS an organisation is allocated an allowance for the amount of greenhouse gases it is permitted to produce. These systems allow those who reduce emissions beyond their obligations to sell their excess emission capacity to others within the ETS who are unable to meet their own emission reduction targets. There are two broad types of emissions trading schemes, cap and trade and baseline and credit., countries or businesses are allocated carbon credits or permits, usually for a designated time frame. They must then surrender one carbon credit for each tonne of carbon dioxide equivalentCarbon 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. (CO2e) emitted within the relevant time frame. This ensures the credits are not double-counted. of an Assigned Amount UnitAssigned Amount UnitsAssigned Amount Units. The emissions units are allocated to developed countries based on their Kyoto Protocol target and can be traded. One AAU equals one tonne of CO2e.. The emissions units are allocated to developed countries based on their Kyoto ProtocolAn international agreement linked to the UNFCCC and sharing its aim of stabilising atmospheric concentrations of greenhouse gases, but requiring separate ratification by governments. The Kyoto Protocol, among other things, sets binding targets for the reduction of greenhouse-gas emissions by industrialized countries. It entered into force for ratifying countries in February 2006 and commits developed nations to collectively cut their greenhouse gas emissions by 5.2 per cent of 1990 levels by 2012. Came into force in Australia on 11 March 2008. target and can be traded. One AAU equals one tonne of CO2e. (AAU) using the Kyoto accounting mechanisms.

    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- Yes

    LMS's Landfill Methane Flaring Project | QLD QLD Methane landfill Greenhouse Friendly (GHF)

    General Information

    This project is not owned by Ecofund Queensland | Traditional landfillA hole in the ground where domestic waste and waste products from industry are put and covered with soil. methaneMethane (CH4) is a greenhouse gas with a GWPGlobal warming potential (GWP) measured in CO2e, is the potency of greenhouse gases, meaning their ability to trap heat in the atmosphere, through the difference in time greenhouse gases remain in the atmosphere, and their effectiveness in absorbing outgoing infrared radiation. The GWP is a numerical measure relative to carbon dioxide, the most abundant greenhouse gas. So carbon dioxide itself has a GWP of 1 and, for example, methane has a GWP of 21. of 21. flaring project


    Price per tonne of CO2e
    [Q24]

    $8- $15


    Quality

    Accreditation or certification achieved as at May 2010
    [Q33a]- Greenhouse FriendlyGreenhouse Friendly 'The Greenhouse Friendly™ initiative has been operating since 2001 to certify carbon neutral products and services and approve abatement credits for sale on the voluntary market, including to Greenhouse Friendly™ certified product and service providers. Introduction of the Carbon Pollution Reduction Scheme (the Scheme) has implications for Greenhouse Friendly™. The Scheme will have broad sectoral coverage, which means there will be less scope to pursue offset activities with offsets limited to emissions sources uncovered by the Scheme. This means the Scheme will impact on the types of abatement that can be provided, because abatement in sectors covered by the Scheme will no longer be additional to “business as usual”. For these reasons Greenhouse Friendly™ will wind up on 1 July 2010. Greenhouse Friendly™ certification of carbon neutral products and services will continue to operate until 1 July 2010. Applications for new abatement projects have closed. Abatement may be generated by current Greenhouse Friendly™ abatement providers up to 1 July 2010, and may still be sold and purchased after that date.
    Are the verified emission reductions created from this project NCOS compliant abatement?
    [Q36]

    - No

    Is this project additional to Australia's commitments under Kyoto
    [Q37]- No

    Contact Details

    Contact Details

    For more information please contact:

    Ecofund Queensland
    www.ecofund.net.au
    07 30176460
    Level 3, 120 Edward Street Brisbane QLD 4000
    Information Submitted by Ecofund Queensland in April 2010