Emissions Reduction Fund reaches 1,000 project milestone
The Emissions Reduction Fund (ERF) has registered its 1,000th project.
The milestone project is at Binginbar Farm in New South Wales. The farm will use new practices to increase soil carbon levels and improve water retention. Storing carbon in agricultural soil reduces emissions and can increase a farm’s productivity.
ERF is key to Australia’s emissions reduction strategies. The fund is close to achieving 100 million tonnes of carbon dioxide equivalent stored or avoided. The Clean Energy Regulator forecasts the ERF to credit 17 million tonnes of emissions reductions in 2021.
The types of eligible ERF projects are expanding, with 5 new methods launching this year:
- carbon capture and storage
- soil carbon
- biomethane or green gas
- blue carbon
- plantation forestry.
Have your say on new ERF method priorities for 2022 on our Consultation hub.
- The Minister announced the milestone project on 26 August 2021
- Read more about the ERF
- Read about Australia’s emissions reduction strategies