There has been interest from the private sector in Cassowary Credits, but the driver varies across organisations. Some organisations have indicated they are interested in the carbon credits from stacked projects, because they have increased confidence in their integrity. Some organisations said there is strong alignment in values and that Cassowary Credits provides a way for them to contribute to and demonstrate their commitment to good environmental and social outcomes. Others have said they are interested in contributing to the establishment of a functioning, high integrity biodiversity credit market in Australia. The opportunity for a commercial return from the carbon credits in a stacked project is also a factor for some.

The feedback we've received indicates there is interest in the entire suite of benefits delivered by the Cassowary Credit Scheme, including environmental and social benefits.

All information is available on the Eco-Markets Australia website. The Cassowary Credit Standard and Rainforest Replanting Methodology set out information about eligibility for participating in the scheme and should be referred to for accurate and complete requirements. Other requirements may be associated with additional Methodologies as they are developed and approved. Eco-Markets Australia can also provide information about eligibility.

Cassowary Credits and the Nature Repair Market are two different environmental market programs, that can operate in parallel. There are similarities and differences in their design and the outcomes they will deliver, which will appeal to different groups of stakeholders. Australia is well-positioned to participate in - and influence - emerging global biodiversity credit markets, with voluntary, regional schemes, like Cassowary Credits and broader national schemes, like the Nature Repair Market, providing options for investors.

While the costs to implement a specific project will vary based on a range of factors, there is a substantial amount of information available about the factors to consider when costing a project. Most revegetation or conservation organisations within the region would be able to support landholders with more detailed information on costs and considerations.

Proponents can start to claim Cassowary Credits from 2 years after the start of a project until the end of the 25 year crediting period. The amount of credits issued at a given time will depend on the amount of change in the condition of the planting. Projects must also show that they meet the requirements relating to management of threats such as the abundance of invasive pasture grasses and other high impact non-native plants.

Cassowary Credits is a market scheme, so the price and demand for credits may fluctuate with market influences. However, it is intended that the price received for credits will at least cover the costs of planting biodiverse rainforest to meet the requirements of the Cassowary Credit Rainforest Replanting Methodology. If there is sufficient demand for Cassowary Credits, there may be the opportunity to generate additional income on top of cost recovery.

Yes. The Cassowary Credits framework provides a way to quantify the change in vegetation condition from projects and factors in the spatial scale that benefits are delivered across. We have participated in discussions and analysed opportunities and believe the outcomes from Cassowary Credit projects could contribute to a range of national and international biodiversity targets and goals.

A landowner can be a Project Proponent and an Approved Operator, but, for transparency and independence, they should engage a separate Approved Operator to deliver services to their project.

Cassowary Credit projects cannot be used as offsets and are designed to ensure net gain in rainforest biodiversity.

The design of the Cassowary Credits Rainforest Replanting Methodology recognises that a planting that meets the minimum requirements for the Environmental and Mallee Planting methodology in the ACCU scheme may provide only limited benefit for rainforest biodiversity. To encourage and reward more biodiverse plantings, the Rainforest Replanting Methodology is specifically designed to enable people to quantify and claim credits separately for biodiversity outcomes of their planting, even if they already claim credits for the carbon. These biodiversity outcomes are reflected in measurements of certain indicators of condition that are related to the potential for the ongoing development of complex rainforest habitat.

In the Rainforest Replanting Methodology, the unit of measure is a Condition Improvement Unit, which is based on the measured or modelled improvement in indicators of vegetation condition over time, multiplied by the spatial area.

In the Cassowary Credit Scheme, a conversion factor is set in each Methodology to reflect the value of the relative real effort needed to achieve a Condition Improvement Unit for one hectare according to that Methodology. Projects conducted under the Rainforest Replanting Methodology accrue 10 Cassowary Credits per Condition Improvement Unit per hectare. A 20% supplement accrues for land subject to a lawfully binding arrangement for permanence in perpetuity.

Cassowary Credits generated from projects implementing the Rainforest Replanting Methodology cannot be used for offsetting environmental harm. As part of the Additionality requirements the methodology states in section 4.6 that "Project Activities must not be required to be carried out by law or under any agreement, including as part of an offset condition or existing funding agreement." The justification is that the Cassowary Credits Scheme scope in section 3.1 of the Standard states that the Scheme covers Projects that deliver benefits for rainforest biodiversity in the Wet Tropics Bioregion arising from:
a) Restoration or reinstatement of rainforest biodiversity; or
b) Legal protection of rainforest biodiversity from future impacts; or
c) Mitigation of threats to rainforest biodiversity.

The Cassowary Credit Rainforest Replanting Methodology requires the management of key threats to the survival and growth of planted vegetation, such as invasive pasture grasses and other high impact non-native plants. In order to meet the target scores for indicators of condition, project proponents will need to ensure that processes such as fire are also managed so that a dense canopy develops, tree trunks thicken and seedlings of native plants recruit naturally in the undergrowth. There should be no restrictions to fire management in a stacked carbon-cassowary project.

It is likely that a higher density and diversity of native rainforest species will need to be planted in a Cassowary Credit project, compared to an ACCU project, to deliver a benefit to rainforest biodiversity.

For example, the minimum requirement in an Environmental Planting ACCU project is for vegetation to achieve crown cover of at least 20%. This would not meet the minimum requirements of a Cassowary Credit project, which requires a canopy cover of at least 83% by the end of the project.

Activities that could help meet this additional requirement in Cassowary Credits could include planting a higher density of seedlings at the start of a project or facilitating conditions that encourage natural recruitment of native species.

In the ACCU Scheme, proponents can select either a 25 year or 100 year permanence period. In Cassowary Credits, projects have a minimum permanence period of 25 years, but proponents can achieve a 20% premium on the number of credits they can generate if their project area is protected under a binding conservation agreement.

Cassowary Credits is a market scheme, so the price and demand for credits may fluctuate with market influences. However, it is intended that the price received for credits will at least cover the costs of planting biodiverse rainforest to meet the requirements of the Cassowary Credit Rainforest Replanting Methodology. If there is sufficient demand for Cassowary Credits, there may be the opportunity to generate additional income on top of cost recovery.

The Cassowary Credit Replanting Methodology uses a concept of condition in rainforest planting that relates to the capacity of the replanting to continue to develop in complexity and diversity of structure, composition and function through natural processes of forest regeneration. Certain requirements need to be met to help projects to achieve this potential, including managing key threats. During the crediting period, 5% of the credits earned are withheld in case it takes longer than expected to meet target conditions in the planting. In addition, there is a 5% Risk of Reversal Buffer applied to all projects.

The Methodology review process is conducted by the Eco-Markets Australia Secretariat working closely with the EMA Technical Advisory Committee (TAC). The review process involves administrative checking, Peer Review (by 2 independent peer reviewers) and Public Comment and strategic, technical and operational consideration by the Sectretariat and TAC. The EcoMarkets Secretariat and Technical Advisory Committee are not limited in seeking and obtaining any advice or information that the Secretariat requires to inform the EMA Board's consideration of a draft Methodology for approval.

Detailed information regarding the full Methodology Application and Review Procedure can be found on our website inclusive of application forms and eligibility checklists under Cassowary Credits Methodologies.

People considering participating in the Cassowary Credit Scheme should consider many factors, including, where necessary, obtaining financial or legal advice specific to their circumstances. It's not possible for Eco-Markets Australia to provide this advice.

The Cassowary Credit Replanting Methodology uses a concept of condition in rainforest planting that relates to the capacity of the planted area to continue to develop in complexity and diversity of structure, composition and function through natural processes of forest regeneration. The biodiversity value of planted areas will develop over several decades.

We understand that the costs of biodiverse rainforest plantings are relatively high and borne predominantly in the early years of a project, so the Cassowary Credit Rainforest Replanting Methodology has been designed to generate a higher proporption of credits during the early years of a project. The rate of credit generation declines across the life of the project, aligning with the rate of change in vegetation condition, as well as typical project inputs. Project costs will vary, so it's not possible to provide advice on when landholders might recoup costs or see a financial return. Proponents can start to claim Cassowary Credits from 2 years after the start of a project until the end of the 25 year crediting period. The amount of credits issued at a given time will depend on the amount of change in the condition of the planting. Projects must also show that they meet the requirements relating to management of threats such as the abundance of invasive pasture grasses and other high impact non-native plants.

The management of feral pigs is not an activity that can be credited using the Rainforest Replanting Methodology. If there were feral pigs in an area where this Methodology was being applied, the pigs may need to be managed to prevent them from damaging the replanted vegetation and to meet the target scores for indicators of condition, but it is the increase in condition that would be credited, rather than the pig management specifically. So, while the management of pigs itself is not directly credited using this Methodology, feral pig management may contribute to the outcomes that are credited. A new Methdodology would be required to enable direct crediting of feral pig management.

The Rainforest Replanting Methodology specifies the indicators of condition used to quantify condition, as well as the key threats to condition in rainforest replanting in the Wet Tropics. Indicators of condition that must be measured in the field are: percentage canopy cover, density of medium and large stems and species richness of native recruits.

The key threats to condition are percentage cover of introduced pasture grasses and abundance of other non-native plants. These must all be measured and reported in field monitoring. The Explanatory Statement sets out the rationale and supporting information regarding the selection of indicators and key threats and the Field Protocol details the requirements for measuring indicators directly.

These are important considerations and there are processes within Cassowary Credits to manage them. These include a Reversal Procedure (which guides the response to reversals from a range of factors, including natural disasters), a requirement to conduct a leakage assessment and a Scheme Risk of Reversal Buffer (to manage potential over-estimation of benefits). Credits are also generated after outcomes are delivered and quantified, minimising the risk of over-estimation.

Eco-Markets Australia has an existing Fee Schedule available on the website listing all associated fees which covers costs for administration of our Schemes.

A NEW fee schedule inclusive of Cassowary Credit fees will go to pubic consultation in the coming weeks.