Carbon Credits (Carbon Farming Initiative—Designated Verified Carbon Standard Projects) Methodology Determination 2015 (Cth)

Carbon Credits (Carbon Farming Initiative—Designated Verified Carbon Standard Projects) Methodology Determination 2015 I, Greg Hunt, Minister for the Environment, make the following determination.

Dated 17:3:2015

Greg Hunt

Greg Hunt Minister for the Environment

Contents —Preliminary Name Commencement Authority Duration Definitions —Designated Verified Carbon Standard projects Designated Verified Carbon Standard projects —Project requirements —General requirements Operation of this Part —Information provided to Regulator Information supported by evidence Spatial information Tree species information Baseline harvest information Project scenario information —Other requirements Verified Carbon Units No re-harvest events No land conversion events No harvest events after 2028 Removal of biomass and thinning —Net abatement amount —Operation of this Part Operation of this Part References to factors and parameters from external sources —Project commencement Project commencement —Calculating net baseline emissions —General General —Carbon stock extracted from project area General Mean merchantable volume of each species in each stratum Mean merchantable volume in each land parcel Mean volume of extracted timber for each species in each land parcel Mean carbon stock of harvested biomass for each species in each land parcel Biomass conversion factor Mean carbon stock of extracted timber for each species in each land parcel Carbon stock of logging slash in each land parcel Carbon stock of extracted timber from each land parcel Carbon stock for each harvested wood product in each land parcel —Carbon stock in existence in harvested wood products at end of crediting period General Carbon stock in harvested wood products in existence at end of crediting period—decay factor method Carbon stock in harvested wood products in existence at end of crediting period—maximum loss method Calculating carbon stock in harvested wood products in existence at end of crediting period—conservative estimate Carbon stock in existence in harvested wood products at end of crediting period —Carbon stock in forest regrowth after harvest General Carbon stock in regrowth each land parcel Carbon stock in regrowth in all land parcels Carbon stock of harvested biomass for all species in each land parcel Loss from logging slash and harvested wood product decay over the crediting period —Net baseline emissions General Net carbon stock change—all land parcels Net baseline emissions—all land parcels Emissions before project commencement —Calculating net project emissions —General General —Net sequestration General Average growth rate in land parcel Carbon stock increases due to growth in project scenario —Natural disturbances General Detection of natural disturbances Establishing a grid overlay Sample plots Calculating biomass proportion Calculating average tree proportion Calculating margin of error for tree proportion Calculating probable limits of error for tree proportion Calculating conservative estimate of tree proportion Proportion of biomass killed Notional area of biomass killed in land parcel Carbon stock in debris pool following natural disturbance Carbon dioxide emissions Emissions from carbon stock burnt Net project emissions —Carbon dioxide equivalent net abatement amount Carbon dioxide equivalent net abatement amount —Reporting, record keeping and monitoring requirements —General Application —Monitoring requirements Project monitoring —Record-keeping requirements Records that must be created and kept —Offsets report requirements Determination of certain factors and parameters