In 2020, Point Advisory improved the value of Carbon Positive Australia’s (then Carbon Neutral Charitable Foundation) Gold Standard certified project through a co-benefit analysis that found biodiversity values of $35M, 43 new fulltime jobs and evidence of improved water and soil quality.
The Yarra Yarra Biodiversity Corridor Project is a reforestation project located in the Western Australian Wheatbelt. This global biodiversity hotspot has seen over 90% of native vegetation cleared for agriculture. Most of the land in the corridor is now marginal farmland and the project will connect 12 nature reserve over a 10,000km2 area. The project carbon sequestration services were being used as a source of revenue, but the co-benefits were unknown.
To identify the co-benefits, and increase the value of carbon credits, Point Advisory:
- Identified co-benefits through stakeholder surveys and onsite analysis
- Mapped the co-benefits to the UN Sustainable Development Goals (SDGs) these included indigenous culture heritage benefits, water quality and the opportunities the project provided for training on natural resource management
- Valued the biodiversity benefits using benefits transfer techniques that estimate the value at Yarra Yarra based on values in similar locations
- Determined the employment benefit
The full report is available here.
Carbon Neutral Australia is now able to market its carbon credits, already certified under the Gold Standard as also providing biodiversity and employment benefits and contributing to the UN Sustainable Development Goals.
Carbon Positive Australia’s