Participants under the C+B Pilot will be required to establish and maintain biodiverse environmental plantings consisting of a mix of native tree and shrub species.
The projects will need to be registered as eligible offsets projects under the Emissions Reduction Fund (ERF) using the Reforestation by Environmental or Mallee Plantings—FullCAM method.
Once registered, the projects will be eligible to receive carbon credits (‘Australian carbon credit units’, or ACCUs) if they comply with ERF requirements. ACCUs can be sold to the Australian Government and to private buyers in other markets. The ERF requires project owners to nominate whether the plantings will be protected and maintained for either 25 or 100 years. Projects will also be subject to measurement, reporting and verification requirements under the ERF and C+B Pilot.
Plantings will need to be established and maintained in accordance with the applicable regional C+B planting protocol. The planting protocols ensure projects generate biodiversity benefits.
Contracted projects that comply with the planting protocol and other C+B Pilot requirements will receive biodiversity payments. The biodiversity payments offered to applicants will be determined using one of two processes.
Option A: Applicants can submit cost estimates for their project and, if they are successful in the selection process, they will receive a biodiversity payment offer that considers their estimated costings.
Option B: Applicants can submit their own bid price for the biodiversity payment they are willing to accept, along with their project costs. If they are successful in the selection process, they will receive a biodiversity payment offer based on either the bid price or the estimated costs of the project.
Information on how biodiversity payment offers are determined is available here.
Projects will be selected having regard to their ‘benefit–cost score’, which will be calculated using biodiversity benefit scores (benefit) and possible biodiversity payment offers (cost). Biodiversity benefit scores will be based on the predicted future biodiversity value of the site and its contribution to regional biodiversity conservation. While evaluating project applications, with all else being equal:
Possible biodiversity payment offers will be based on either the bid price (if submitted) or the estimated costs of the project.
To be eligible to participate in the C+B Pilot, applicants must hold the freehold title in the land and the land must be predominantly used for agricultural purposes. In addition, C+B Pilot projects must:
Please refer to the C+B Pilot guidelines to ensure all eligibility requirements can be met.
There are 6 steps to submit an application:
The guidelines, planting protocols and other information on the C+B Pilot is available from the Department of Agriculture, Water and the Environment.
Information on the ERF is available from the Clean Energy Regulator.