Examining the existing methodologies reveals a number of important points from the perspective of farmers and landowners:
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The methodologies will require a level of data collection and monitoring that is beyond normal practice for the farming enterprise.
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Some methodologies may require the use of specific modelling tools. This also suggests some form of specialist involvement in the ERF project.
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They may require sampling, measurement and statistical techniques that are very specialised. This implies that the farm enterprise will probably have to contract at least some of those services.
Methodologies also generally require auditing and reporting of project results, again requiring specialist services.
Finally, effort will be needed to sell the earned ACCUs in an appropriate market.
Together, these points indicate that engaging with the ERF (which requires an approved methodology) may involve high initial set-up costs and then ongoing costs for monitoring, measurement, auditing, reporting and, finally, marketing the ACCUs earned.
Explore the full Workshop Manual: The business case for carbon farming: improving your farm’s sustainability (January 2021)
Read the report
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1. Introduction: background to the business case
This chapter lays out the basic background and groundwork of the manual
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1.2 Being clear about the reasons for participating
Introduction: background to the business case
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1.4 Working through the business case for carbon farming
Introduction: background to the business case
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1.5 Factors determining project economics
Introduction: background to the business case
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1.8 Important features of the business case
Introduction: background to the business case
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2. How carbon is farmed under the ERF
This chapter considers in detail the activities that constitute carbon farming
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2.5 Carbon farming under the Emissions Reduction Fund
How carbon is farmed under the ERF
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3. The policy context and the price of ACCUs
This chapter takes a broad look at the policy context for carbon farming
