The Statement of Obligations (Emission Reduction) (SoO-ER) requires the Victorian water sector to significantly reduce greenhouse gas emissions. Water Corporations are planning to establish a portfolio of Australian Carbon Credit Units (ACCUs) generated from Environmental Planting and Plantation Forestry methods to meet their indicative demand profile. Water Corporations are open to considering other complementary methods, that demonstrably achieve the offset targets in the future, and align with the SoO-ER.

Through this EOI participating Water Corporations are hoping to understand the requirements of potential respondents and projects that could be available for the carbon offsets portfolio. Insights gained in the EOI phase will be used to inform the RFP phase, to ensure the approach to market is streamlined and targeted. Participating Water Corporations are looking for:

Respondents that can provide projects and ACCUs developed via the Environmental Planting and Plantation Forestry methods in Victoria;

• The types of projects that are available, or can be developed, to generate ACCUs. Details of potential projects, including land access models, geographic location, management of non-project activities (such as agriculture) and project design features are welcome;
• Creative and / or innovative commercial models available to develop the portfolio, and accompanying remuneration schemes, and impacts to the SPV;
• Cost-effective opportunities that provide value for customers; and
• Innovative solutions demonstrating the Respondents’ investment in Continuous Improvements.