SYDNEY 11 November 2013 – GCS is pleased to report that it has been issued the first ever Australian carbon credit units (ACCUs) for a Native Forest Protection project under the Carbon Farming Initiative.
“This is a tremendous milestones for us – it marks Australia’s first ever project of its kind and a huge development for the beneficiary farmer,” said James Schultz, CEO of GCS.
“The Carbon Farming Initiative is invaluable to Australia’s climate policy and we are tremendously pleased to be the first to register a Carbon Farming Initiative eligible activity of this kind.”
The project is protecting native woodland ecosystems on a property that was once part of Overflow Station, made famous by the Banjo Paterson poem. The initial issuance was for 72,301 ACCUs.
The ACCU’s were created using a Federal Government approved methodology developed earlier this year by GCS
“We are very excited to be at the forefront of development of such projects in Australia,” Schultz said.
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