Perform the role of developing and implementing sustainability programs that may result in the creation and sale of environmental credits.
As at Sept, 2008 Prime Carbon Pty Ltd is the sole company that performs this role within the cluster. In the future as further companies emerge, they will be included.
Prime Carbon Pty Ltd
Prime Carbon Pty Ltd is a privately owned company that exists to assist in reducing the Net Carbon Emissions of commerce and industry based in North Queensland by linking these with environmentally sustainable farming and industry practices. Initially this involves supporting a range of technologies aimed at restoring and maintaining soil carbon reserves.
Prime Carbon has developed a process which complies with the Kyoto rules (as currently interpreted) which allows Carbon Credits to be issued in exchange for Landholders undertaking a specific set of actions which lead to the Capture of Carbon. This process has resulted in Prime Carbon becoming a leader in the establishment of systems to produce, aggregate and trade Carbon Credits.
In general the set of actions requires a Landholder to:
- reduce the use of chemical fertilizers by at least 30%
- adopt minimum tillage practices being no more than once annually and then only to a maximum depth of 200 mm
- use approved Bio-fertilizers and Inoculants
- allow independent measurement of incremental changes in carbon in the allocated land to be undertaken and
- allow independent auditing of the process.
This set of actions amounts to a controlled implementation of sustainable practices for the management of soil carbon reserves. Importantly, there is no restriction on continuing to farm or use the allocated land during the agreement term.
Carbon Credits issued by Prime Carbon are listed on the National Environment Registry - which is the Registry for all approved Environmental Credits in Australia.
Prime Carbon is:
- registered as an Aggregator of Carbon Credit Units with the National Stock Exchange. In this capacity, Prime Carbon lists Carbon Credit Units on the National Environment Registry.
- registered as a Broker with the National Stock Exchange. This means that Prime Carbon is able to sell/trade Carbon Credit Units that have been listed on the National Environment Registry.
The vision of Prime Carbon is that by 2013 the company will:
- convert at least 1 million hectares to sustainable farming practices
- provide $1 billion pa in commercial opportunities for the North Queensland region
- provide substantial wholesale Carbon Credit Units for trading at a National and International level
- be seen as the benchmark for regionally focused carbon exchange programs in Australia
- be a focal point for on-going research into sustainable technologies
Prime Carbon will donate 5 cents from every Carbon Credit sold that was created within the Townsville region and 1 cent from every Carbon Credit sold that was created outside the Townville region to the "Carbon Townsville Sustainability Benefit Fund".