A world-first biodiversity credit scheme.
The scheme has been specifically designed for Australia’s Wet Tropics region, one of the world’s oldest and most well-studied rainforests, where 20,000 hectares of unproductive land is being targeted for restoration.
Nature provides us with numerous free services including food and fibre, water, clean air and a stable climate. However, these natural resources are under threat from climate change and biodiversity loss. We need rapid widespread action globally to reduce carbon emissions and reverse nature loss. Government funding alone is not sufficient to meet the scale of action required. We need new ways to bring more investment into conservation.
Wentworth Group of Concerned Scientists recommends investing at least $7.3B a year in Australia’s environment. Current government spending is approximately 5% of what’s needed.
What is a Cassowary Credit?
A Cassowary Credit is a quantified improvement in rainforest habitat (vegetation) condition earned by landholders. Purchasers buy the verified improvements as credits.
Investing in Cassowary Credits will create positive results for nature. The scheme measures real change in terms of outcomes rather than just activities (such as the number of trees planted, or the area of land restored). Landholders or managers must use an approved methodology for projects on their land ranging from rainforest reforestation on cleared or heavily disturbed land to weed control to improve the condition of existing vegetation.
Environmental, social and economic issues are often intertwined so a key feature of Cassowary Credits is that multiple social benefits have also been designed into the scheme. Local communities and Rainforest Aboriginal People will benefit financially from the requirements to utilise local businesses to deliver services, while training and employment opportunities will also be available for Traditional Owners.
A Cassowary Credit represents tangible, additional and enduring benefits for rainforest biodiversity.
Designed to generate multiple benefits for regional communities and Rainforest Aboriginal People.
Independent and accountable governance and administration, with credits based on outcomes.
Science, credible knowledge and regional expertise underpin processes, methods and outcomes.
Tailored design for rainforests, as they are major carbon sinks with outstanding biodiversity.
With a Standard and first Methodology completed, this product is now being pilot tested as it approaches a market launch.
35% of Australia's mammals
42% of Australia's freshwater fish species
58% of Australia's butterflies
40% of Australia's bird species
400 species of coral
1500 reef fish species
We've collected answers to most
of the basic questions in order
to be as open and transparent as possible.
“It provides a rigorous and practical framework for us to measure, report and verify the outcomes of restoration and conservation work and will open up access to finance so we can continue doing our crucial work.”
“An innovative approach that aligns with Council’s aspiration to position the region as a leader in the Smart Green Economy by capitalising on emerging biodiversity credit and nature repair markets.”
“We can use Cassowary Credits to help keep our people and our country healthy, with opportunities to run our own projects and more sustainable funding to work on country.”
The concept of Cassowary Credits was initiated by Terrain NRM, a natural resource management organisation based in Australia's Far North Queensland. We have worked with a range of technical, community and Indigenous experts to design the scheme.
We are now seeking a partner to invest in the road testing, refining and marketing to help us transition the scheme to a full market launch.
The key people involved in the development of the scheme include:
