Orana region rates highly in emissions reduction


27-Dec-2017

Orana region rates highly in emissions reduction

Regional Development Australia (RDA) Orana chair John Walkom has welcomed the release of results following the sixth Emissions Reduction Fund (ERF) auction which indicate that individuals and companies are supporting the scheme.

“This is another great result for Western NSW and those participating in the ERF initiative,” Mr Walkom said.

Nationally, the scheme has now secured more than 191 million tonnes of carbon abatement through 404 contracts.

“There has been a range of projects across land and industry sectors which have been successful in bringing forward new abatement,” Mr Walkom said.

Volumes of abatement at the sixth ERF auction were also consistent with expectations in a maturing market.

Across NSW, the main areas of involvement in terms of projects are:

  • vegetation management (199)
  • waste methods (52)
  • agricultural practice (15)

The Orana region is actively participating in the scheme, with a total of 15, 838, 525 Australian Carbon Credit Units (ACCUs) issued under the ERF.

“The Bourke Local Government Area is leading the way, with 77 projects delivering 6,729,629 ACCUs,” Mr Walkom explained.

Cobar was not far behind, with 52 projects equalling 8,041,931 ACCUs.

Abatement at the sixth auction was purchased at an average price of $13.08 per tonne, with more than $265 million in funding remaining available for future purchasing processes.

“Of the 7.95 million tonnes of abatement contracted by the Clean Energy Regulator, a significant proportion of that has come from this region.

“This will have substantial impact on the diversification of income for rural and agriculturalists for the life of the contracts. This fund is a major opportunity for regional areas and goes beyond landholders to other industries.”/ENDS


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