With the debate on the carbon pricing mechanism focusing primarily on the potential cost impacts, it is easy to overlook the opportunities presented by its sister scheme – the Carbon Farming Initiative.
The Carbon Farming Initiative is a carbon offset scheme that enables land managers to generate carbon credits that can be traded or used to meet mandatory or voluntary carbon commitments. The scheme is potentially open to landfill owners or operators who capture and combust methane arising from certain waste deposited at their landfill either in a flare or an internal combustion engine.
The recent approval of the 31st landfill gas project under the Carbon Farming Initiative is an encouraging start for the industry but there are expected to be more landfills in Australia that could benefit from participation in the scheme. With the approval of a second landfill gas methodology in December 2012 opening the door for more projects to participate in the scheme and buyers of carbon credits already in the market, it is timely for landfill owners and operators to be assessing their opportunities under the scheme.
In this article, we comment on those opportunities and outline the path to participation in the scheme. We also comment briefly on the opportunities for landfill owners and operators under the Renewable Energy Target Scheme.
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