Carbon

Carbon briefs: a quick look at this month’s carbon news

Eric Barker and Linda Rowley, 27/10/2022

AgCarbon Central publishes an occasional summary of the stories making news in the carbon industry. Here is a snapshot of this month’s news.

  • Dr Kerry Schott appointed chair of Carbon Market Institute
  • Soil carbon aggregator wins innovation award
  • WA company to build asparagopsis plant
  • Savannah burning impacting Cape York property market
  • More renewable opportunities on the market

Dr Kerry Schott appointed chair of Carbon Market Institute

The Carbon Market Institute (CMI) earlier this month announced the appointment of Dr Kerry Schott as the new chair of its board, bringing a wealth of energy, resources and climate experience to the role across both the public and private sectors.

Dr Schott joins the board alongside her other current role of Chair of NSW Net Zero Emissions and Clean Economy Board. She was previously Chair of the Energy Security Board from 2018-2021 and Managing Director and CEO of Sydney Water from 2006–2011, among a number of other high-profile positions.

Dr Schott will replace Elisa de Wit, Partner and global head of Carbon Markets at Norton Rose Fulbright. Dr Schott will take over the chair after the CMI Annual General Meeting on November 2.

Soil carbon aggregator wins innovation award

One of Australia’s largest soil carbon aggregators has been named top innovator for the agriculture, mining and utilities section of the at the Australian Financial Review’s most innovative companies awards.

AgriProve has committed over $20 million to date on a range of new developments including: a universal digital agricultural land management strategy for carbon sequestration using satellite data advanced soil measurement technologies, models and practices that are continuously improved building a platform to customise data insights as a foundation for ‘digital twinning’ of farms.

The company makes up more than 80 percent of the soil carbon market in Australia, with a further 883 pipeline projects comprising over 835,000 hectares. In comparison there are less than 100 carbon farming projects registered internationally under voluntary soil standards.

AgriProve has also finished the second round of testing on several projects and is hoping to for approval from the Clean Energy Regulator and to be awarded Australian Carbon Credit Units.

WA company to build asparagopsis plant

WA-based aquaculture company, SeaStock, has signed a Memorandum of Understanding with the Geraldton Fishermen’s Co-Op which will allow the company to further refine the on-land cultivation of native WA seaweed, Asparagopsis.

SeaStock Managing Director, Tom Puddy, said that the MOU with the Geraldton Fishermen’s Co-Op represented a significant milestone for the company.

“We are looking at a number of the sites that the GFC currently operates out of, to see which one is the most suitable to house the pilot plant.

Savanna burning impacting Cape York property market

Sydney-based Corporate Carbon has paid $12 million WIWO, including 2200 branded cattle, for Watson River Station on Queensland’s Cape York Peninsula.

The 89,000ha of undulating well-grassed country was offered to the market two years ago by vendors Cameron and Doreen Quartermaine after 35 years of ownership.

At the time, Watson River (video above) was marketed as having an additional passive income of more than $100,000 per annum, driven from the carbon offset scheme via Savannah burning offsets, as well as hay sales, totalling 900 round bales per annum.

It is understood Corporate Carbon will expand the cattle enterprise and then implement a plan to increase the intensity of Watson River’s current fire management practices.

Another Cape York property carrying a savanna burning project, called Astrea, has hit the market.

Owned by James and Patricia Gordon for the past 37 years, the 62,800ha property is located near Yarraden, 450km north of Mareeba and 60km west of the Musgrave Roadhouse on Cape York Peninsula.

Corporate Carbon indicated it is planning to increase fire management practices and secure additional country in the region.

More renewable opportunities on the market

Central Queensland cattle enterprise Gelobra is offering potential purchasers a significant future passive income stream opportunity with renewable energy.

Spanning 5308ha, with 1040AE carrying capacity, the large-scale grazing opportunity is located on the eastern side of the Mount Morgan Range at Bajool, south of Rockhampton.

Gelobra falls within the Mount Hopeful Wind Farm – a large-scale renewable energy project proposed within the Rockhampton and Banana Shire areas.

Another property in Western Australia, called Karakin Farm is located at Lancelin, 126km north of Perth on the edge of Indian Ocean.

Lancelin has been earmarked by Copenhagen Energy for its $8b offshore wind farm due to the reliability of wind coming off the Indian Ocean, the high voltage power line that runs through the area and its proximity to Perth -reducing transmission losses.

Expressions of Interest close on October 18.

 

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