Tasmanian forests and the carbon market: Barriers and opportunities

Posted 30 September 2024

Carbon benefits

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This report, produced for the Tasmania Forestry Hub, provides a timely industry perspective on Tasmania’s forest carbon market; its strengths, barriers to its expansion and strategies and reforms that will help ensure the sustainable growth of forest-carbon projects in Tasmania.

In addition to providing background information on the operation of the ACCU scheme, the report also summarises the findings of an industry workshop held in Launceston in June 2024.

A key workshop finding was that while carbon credits provide an important source of additional income for approved forestry projects, the decision to invest in such projects and their ultimate viability depend largely on other factors, chiefly the commercial return on resulting forest products. The bottom line is that it is neither viable nor desirable to grow trees for carbon credits alone, but ACCUs can incentivise plantation establishment and forest management practices designed to maximise carbon storage.

Read the report HERE.

A short video summary of this project from Professor Richard Eccleston is also available HERE.