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Reef Credit Scheme

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 Queensland Government is helping to kick-start the market with a $10 million investment, in the form of a Reef Credit Fund, to purchase some of the Reef Credits generated by landholders.

As part of this investment, a procurement process is also being undertaken to recruit brokers to help landholders identify on-ground projects that can earn them Reef Credits and provide an additional ongoing income stream.

The final stage of the procurement process is now underway with shortlisted brokers identified through the process invited to submit an Invitation to Offer.

The Reef Credit 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 independent, 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.