September 20, 2023

EMA Quarterly Market Snapshot – Sept 23

Wastewater Methodology approved for Reef Credits

Now available for generating Reef Credits – this method calculates the removal of dissolved inorganic nitrogen in wastewater discharged from a municipal wastewater treatment facility using live algae. It was developed in partnership by RegenAqua Pty Ltd and GreenCollar.

This is a welcome addition to the expanding methodology options for project proponents to generate reef credits and earn additional revenue.

We were fortunate to attend the sod turning for the world first Wastewater Bioremediation Treatment Facility at the Ayr/Brandon Wastewater Treatment Plan, a Regen Aqua and Burdekin Shire Council project. The treatment facility will generate cleaner water in the reef catchment. This was also a great day for Eco-Markets Australia as the project will use the recently approved Wastewater Methodology to participate in the Reef Credit Scheme and earn reef credits.

Find out more about Approve Reef Credit Methodologies

Public Consultation open –
Grazing Land Management Methodology

We are seeking comment on a new Reef Credit Methodology Application for accounting fine sediment abatement through improved grazing land management. This method, which has been developed in partnership by Verterra Ecological Engineering, GreenCollar and AgriProve, aims to increase farm productivity and resilience, improve overall soil health, and reduce fine soil sediment run-off to the Great Barrier Reef. Importantly, it can be utilised in conjunction with other market opportunities such as soil carbon farming.

Submissions on this methodology application close on 19 October 2023.

Queensland Government announces $10m investment in Reef Credits

The Queensland Government has awarded contracts to Palladium and GreenCollar as part of its $10 million commitment to support the Reef Credit market. This will help to secure new investment and work with landholders to develop on-ground Reef Credit projects.

The Minister for the Environment and the Great Barrier Reef Leanne Linard said the appointment of these organisations marks a significant step in the Government’s ongoing efforts to attract investment towards achieving cost effective and verifiable outcomes for the Great Barrier Reef through the Reef Credit Scheme

“I strongly hope these projects will open the door for more organisations and companies to invest in the future of the Great Barrier Reef and encourage landholders to explore opportunities to undertake Reef Credit projects, ” said Minister Linard.

View the full statement.

Reef Credit price trends

It is a frequently asked question we receive at Eco-Markets Australia, how much does a reef credit sell for?As the independent market administrator, we are not party to the financial transaction between a buyer and seller of reef credits. However, we understand the importance of providing a level of price guidance to help informed market participation.

In the last quarter, Reef Credits issued under the Fertiliser Management method have been sold for $100. Forward contracts will see the price increase in the next quarter.

We will publish quarterly credit price guidance, in these market snapshot newsletters.

Eco-Markets Australia is growing!

Our team is growing and we would love to give them each a warm welcome….

Kate Sammon – makes the magic happen behind the scenes and supports the work of our Reef Credit Secretariat and Technical Advisory Committee

Liza Davis – based in Townsville right in the heart of the Great Barrier Reef catchment, will work closely with landholders, councils, industry bodies (everyone really) to increase access to the environmental markets we administer.

Tania Nitschke – starting in October, is going to help tell the stories, share know-how, and make it easier for everyone to better understand how our markets work, and how to get involved.