Innisfail, QLD – 8 November 2016
Storing carbon in vegetation and soils and paying landowners for it to improve the quality of water draining to the Reef and the environment generally, is the focus of an MOU signed today between Terrain NRM, the region’s Natural Resource Management body and GreenCollar.
GreenCollar, a commercial carbon project developer is working with Terrain to use income generated by carbon storage projects as a catalyst for larger scale investment.
The company’s co-founder, James Schultz said it wants to work with landowners, industry groups and government, through Terrain, so the money invested goes well beyond storing carbon to include environmental, economic and social co-benefits.
“We plan to bring together a range of partnerships in the coming months that will see the income from our carbon projects used to underpin a larger scale of investment into biodiversity, water quality and sustainable use as well as creating an additional, bankable commodity for graziers and farmers,” said Mr Schultz
Under the newly negotiated agreements more than AU$200 million is now to be invested into the Queensland coastal landscapes of the Great Barrier Reef over the next 10 years for carbon storage. “We hope the agreement, initially with the Queensland Government, the NRM peak body and now with individual regions such as Terrain, will lead to leveraging this AU$200m investment 10-fold,” Mr Schultz said.
The money comes from the Australian Government’s Emissions Reduction Fund (or Direct Action) and can be added to by the private sector – companies wanting to offset their own carbon footprint
Terrain CEO, Carole Sweatman, said “It is my hope that closer collaboration with GreenCollar will see carbon storage in vegetation and soils delivering additional regional environmental and economic benefits.
“Through this MOU we want to ensure these projects support our goal of improving water quality flowing to the GBR, improving land management practices and contributing to our local economies” added Ms Sweatman.
James Schultz – CEO GreenCollar Group
Phone: 0422 948 056