Reef Credit Scheme
Call for Expressions of Interest
As part of the Queensland Government’s $10 million investment to kick-start the Reef Credit market, Expressions of Interest (EOI) are being called from organisations interested in becoming brokers to work with landholders in delivering on-ground Reef Credit projects.
The EOI closes at 5pm on Monday 16 August, 2021, with shortlisted brokers then invited to submit an offer in September 2021.
Potential brokers are invited to visit the QTenders website for more information.
An Australian first, the Reef Credit Scheme aims to deliver water quality benefits for the Great Barrier Reef and works in a similar way to Carbon Credits.
Farmers and landholders in Reef regions can earn an additional, regular income through generating and selling Reef Credits by taking actions on their land to reduce nutrient or sediment run-off flowing to the Reef.
For corporates like global bank, HSBC who have already purchased Reef Credits and private investors and philanthropic organisations, it’s a unique opportunity to invest in work that directly protects the Great Barrier Reef, while meeting their own individual policy, investment or corporate responsibility charters.
The scheme was initially established with financial support from the Queensland Government through the Wet Tropics Major Integrated Project.
How does the scheme work?
The Reef Credit Scheme is managed by not-for-profit company, Eco-markets Australia.
For a project or action to be eligible to earn Reef Credits, it must follow certain rules, the Reef Credit Standard, and be undertaken in a certain way using a particular method or methods.
These rules are administered by Eco-Markets Australia to ensure the reductions in nutrient or sediment run-off can be measured and verified. All Reef Credit projects must be registered with Eco-Markets Australia to earn Reef Credits.
Find out more about the Reef Credit Scheme.