Quarterly Market Snapshot – July-September 24
Highlights this quarter:
- Public consultation opens on Cassowary Credits
- Reef Credit Grazing Land Management Methodology Approved
- Eco-Markets Australia Team Update
- Eco-Markets Appoints New Chair
- Eco-Markets Expands Technical Advisory Committee
- Reef Credit Market Snapshot
Cassowary Credits Public Consultation Now Live
Eco-Markets Australia has launched a public consultation on the Cassowary Credits Standard and the Rainforest Replanting Methodology.
Developed by Terrain NRM, Cassowary Credits is a new biodiversity market targeting habitat preservation, restoration and repair in the Wet Tropics region, Queensland, Australia. The Standard outlines the rules and requirements of the program, methodology requirements as well as detailing project validation, registration, monitoring, verification, crediting, issuance and transaction requirements.
The Rainforest Replanting Methodology for the Cassowary Credit Scheme in the Wet Tropics (Rainforest Replanting Methodology) specifies how to accurately account for improvements in rainforest conditions through the replanting of native rainforest vegetation.
The public consultation runs 01 October until 30 October 2024.
Reef Credit Grazing Land Management Methodology Approved for Reef Credits
Eco-Markets Australia is excited to announce the approval of an innovative Grazing Land Management (GLM) methodology under the Reef Credit Standard.
Developed by Verterra Ecological Engineering in collaboration with AgriProve and GreenCollar, this new method allows farmers and landholders to earn Reef Credits by improving grazing practices that reduce fine sediment runoff—key to safeguarding the Great Barrier Reef.
With grazing covering 73% of the Reef’s catchment, this methodology is vital in tackling sediment runoff from gully erosion and overgrazing, protecting coral and seagrass ecosystems from further damage.
Eco-Markets Team Update
Eco-Markets Appoints New Chair
Eco-Markets Australia has farewelled Jo Sheppard as Chair, following four years of dedicated service.
During her tenure, Jo played a pivotal role in transitioning Eco-Markets from its startup phase to becoming the first independent administrator of environmental markets in Australia.
She was instrumental in forming the inaugural Board and operational team, laying a strong foundation for the organisation’s future success.
Wilfred Finn has been appointed the new Chair of Eco-Markets Australia.
Wilf is one of the inaugural Directors on the Eco-Markets Australia Board, having served for the past 3 ½ years.
Wilf steps into this leadership role at a pivotal time as Eco-Markets Australia solidifies its position as a national leader in environmental markets.
Eco-Markets Expands Technical Advisory Committee
Eco-Markets Australia is pleased to welcome four new members to our Technical Advisory Committee: Michele Burford, Kym Whiteoak, Ian Prosser, and Lynne Turner. They join existing members Jane Waterhouse, David Pannell, and Chair Bob Speirs.
This expansion strengthens our capacity to review and administer a broader range of environmental markets and methodologies. With expertise spanning diverse environmental disciplines, the Committee is now even better positioned to help Eco-Markets Australia grow beyond Reef Credits, ensuring we remain at the forefront of nature preservation and restoration.
Other Team News
You might have seen some of the Eco-Markets Australia team out and about at industry events during the last quarter.
Some recent events that the team attended or participated in are:
- Parliamentary Friends of the Great Barrier Reef event in Canberra.
- Australian AGinvestment & Sustainability Summit
- Queensland Decarbonisation Forum
Representatives from Eco-Markets Australia are planning to attend the following events in the coming weeks, so hopefully we will see you there:
- The Global Nature Positive Summit 2024
- Private Land Conservation Conference (PLC24)
Reef Credit Snapshot
In the past quarter, Reef Credits issued under the Nitrogen Use Efficiency (DIN) Method have transacted for as much as $170 per credit, marking a notable price increase compared to previous periods.
As the independent administrator of the Reef Credit Scheme, Eco-Markets Australia ensures the integrity of the scheme through robust oversight and effective management of the registry. The registry tracks all approved projects and verified outcomes, facilitating the issuance, transfer, and retirement of Reef Credits. While we oversee these processes, Eco-Markets Australia remains independent from the commercial transactions between buyers and sellers and does not set credit prices.
