Soil Carbon Sequestration Project
The first step in setting up a project is to register it with the Clean Energy Regulator (CER), under an approved Emissions Reduction Fund (ERF) methodology. Methodologies set out the rules and requirements for undertaking a project. Once the project is registered, a new eligible management practice must be implemented. The ERF is a Government fund setup to purchase Australian Carbon Credit Units (ACCUs), to help Australia meet its emission reduction targets. One ACCU represents 1 tonne of CO2 emissions avoided or sequestered. An ERF soil carbon project enables a producer to generate ACCUs and sell them to the Government, companies or private buyers. Projects generate ACCUs by implementing new, eligible management practices that sequester carbon into the soil. 1 tonne of Soil Organic Carbon sequestered is equivalent to 3.66 tonnes of CO2.
