First Cassowary Credits project registered on Eco-Markets Australia Registry

Eco-Markets Australia has officially registered the first project under the new Cassowary Credits biodiversity market, following its launch last week. 

Registered by Project Proponent Cassowary Coast Regional Council, the project is located on council-owned land at Ninds Creek in East Innisfail, adjacent to Moresby Range National Park. The site, previously cleared for cattle grazing, will now be restored to native rainforest through the Cassowary Credits Rainforest Replanting Methodology. 

This inaugural project marks a significant milestone not only for the Cassowary Credits Scheme but for environmental markets in Australia. It is the first known example of a biodiversity credit project being ‘stacked’ with an Australian Carbon Credit Unit (ACCU) project on the same parcel of land, creating an innovative opportunity for landholders to access diversified income streams from environmental outcomes. 

Eco-Markets Australia and Terrain NRM have worked closely with the Clean Energy Regulator to ensure that the project meets the eligibility and additionality requirements of both the Cassowary Credits Scheme and the ACCU framework. This safeguards the integrity of the environmental benefits and avoids double counting, while enabling project proponents to sell credits as bundled or separate products, or retain one credit type to meet internal sustainability goals. 

The project is a collaborative effort supported by Mamu Aboriginal Corporation and Innisfail State College, maximising co-benefits for biodiversity, climate, and the local community. Terrain NRM, developer of the Cassowary Credits Scheme, has supported planning and on-ground implementation to ensure alignment with the approved methodology. 

The project is now publicly visible on the Eco-Markets Australia Cassowary Credits Registry

Maree Adhead, CEO, Eco-Markets Australia comments:  

“To have the first Cassowary Credits project registered just days after the market’s launch is a testament to the commitment of everyone involved, and to the strength of this new biodiversity market. 

This project has successfully progressed through our rigorous application process and is now eligible to generate credits according to the milestones set out in the Rainforest Replanting Methodology. Issuance, transfer, and retirement of credits will all be tracked transparently on the Eco-Markets Australia public registry. 

The fact that this first project also involves stacking biodiversity and carbon credits on the same land parcel is particularly exciting. It demonstrates how these markets can work in tandem to reward the vital stewardship work carried out by landholders. This could be a turning point in how environmental markets operate in Australia.” 

Councillor Jeff Baines, Portfolio Holder for Environment and Reef Guardian Representative, Cassowary Coast Regional Council, said: 

“It is a fantastic opportunity for Council to lead the way in the growing environmental market, particularly through Cassowary Credits, which are uniquely tailored to the Wet Tropics bioregion. 

This first registered project, delivered by Council at Ninds Creek, marks the beginning of an exciting new chapter for our region, 

We’re proud to be trialling this on Council land and look forward to seeing how this can benefit local landholders as an alternative income stream.”