Long crediting timeframes, FullCAM-based accounting and permanence obligations stretching to 100 years made them slower to scale than shorter-cycle methods. In early market conditions, faster-yielding methodologies won out, and plantation forestry was perceived as complex and slow-moving, despite its strong scientific basis and the durability of its carbon storage. 

That perception is now being reconsidered – and the numbers are starting to show it.

A market under structural pressure

The ACCU market has moved decisively from voluntary offsetting toward compliance-driven demand under the Safeguard Mechanism. The Clean Energy Regulator’s Quarterly Carbon Market Report for the March quarter 2026 shows that during the 2024-25 compliance year, facilities surrendered 10.8 million ACCUs and 2.6 million SMCs to meet obligations, with holdings falling by 4.2 million units as compliance demand drew down existing inventories. More than 140 facilities exceeded their baselines. 

Around 21.7 million ACCUs were issued across 2025 reporting periods, with total holdings reaching 60.7 million by the end of the year. The market is well supplied for now, but the CER is clear that tightening Safeguard baselines will increase structural absorption of credits as the decade progresses. Annual demand may surpass annual supply later this decade, resulting in a draw-down of accumulated holdings. The implication for buyers thinking about long-term compliance exposure is significant: future supply will increasingly depend on land-sector pipelines that are being established now. 

The ACCU pricing spread

At the same time, buyer priorities have shifted. According to MSCI’s State of Integrity in the Global Carbon-Credit Market (2025), procurement is moving away from volume-based offsetting toward credit integrity, transparency and durability of outcomes. Credits are increasingly evaluated on the quality and reliability of their carbon outcomes, not volume alone.  

More broadly, the report found that higher-integrity carbon credits are attracting an increasing price premium, reflecting growing buyer willingness to pay for quality and credibility.

Why plantation forestry ACCU registrations are climbing

The market has noticed. Plantation forestry recorded the biggest increase in ACCU registrations of any method in 2025, reaching 100 new project registrations compared to 66 in 2024. The registered area under the plantation forestry method more than doubled in the same period, rising by over 77,700 hectares compared to approximately 30,300 hectares the year before. 

Institutional capital is also moving in meaningfully. In early 2026, the Clean Energy Finance Corporation (CEFC) (an Australian government-owned climate investor) committed A$40 million to an A$81 million plantation forestry project in the Tiwi Islands, projected to generate 5 million ACCUs. It is the CEFC’s first major natural capital forestry investment and a clear signal that government-backed finance now views plantation forestry as a credible long-term play.  

In 2024, the Clean Energy Regulator also moved to reduce the compliance burden for smaller, low-risk plantation forestry projects, replacing ongoing scheduled audits with a single initial audit and substituting geospatial monitoring instead. Lower administrative costs improve project viability at the smaller end of the market, broadening the range of landholders who can participate meaningfully in the method. 

These signals point to a method that is gaining structural momentum, not just renewed attention. 

How plantation forestry fits this moment 

Against this backdrop, the structural characteristics of plantation forestry align well with what the market now values. 

Plantation forestry ACCUs are grounded in quantified carbon storage in biomass and soils, estimated using FullCAM under the ACCU Scheme methodology. That provides an auditable, traceable system for tracking carbon stock changes over time, built on established forestry science and standardised verification requirements. For buyers focused on integrity and transparency, that’s a meaningful alignment with procurement priorities. 

The long-duration nature of plantation forestry also addresses something the market historically undervalued: sustained removals across multiple rotations, with long-term accumulation potential that becomes increasingly relevant as compliance demand tightens and accumulated ACCU holdings are drawn down over time. 

What defines plantation forestry ACCUs in practice

Plantation forestry ACCUs are issued under a defined set of activities within the ACCU Scheme, introduced in August 2017 and updated in a significant methodology revision in January 2022. The method sets out how carbon is stored, measured and credited in plantation systems using FullCAM-based accounting and long-term permanence obligations extending to 100 years. 

The current framework recognises four main categories of eligible activity, known as Schedules: 

• Schedule 1: Establishing new plantation forests on eligible land 

• Schedule 2: Converting short-rotation plantations to long-rotation systems 

• Schedule 3: Transitioning existing plantations into permanent forest cover 

• Schedule 4: Registering plantations that would otherwise be at risk of conversion to non-forest land uses 

Each category reflects a different pathway for generating additional carbon storage within plantation systems, with project eligibility and accounting rules varying depending on land history and management intent.

The co-benefits of plantation forestry projects 

Depending on project design, plantation forestry can deliver outcomes beyond carbon removal. Restoration of vegetation cover on degraded or marginal land, reduced erosion risk, regional employment through nursery propagation, site preparation, maintenance and harvesting roles and broader economic activity in rural areas are all possible co-benefits. There is also growing buyer interest in credits that deliver verifiable environmental and social outcomes alongside carbon, with premium pricing increasingly reflecting that preference. 

Two such Carbon Neutral plantation forestry projects – Sunnyside and Warriup – have unique social benefits through Traditional Owner access baked into their design.

It’s worth being clear, though: the ACCU Scheme’s plantation forestry method does not: 

• require co-benefits,  

• certify biodiversity outcomes, or  

• guarantee any environmental result beyond carbon accounting.  

These outcomes depend entirely on how individual projects are designed and managed. Not all plantation forestry projects are built the same and that distinction matters more now than ever as the market places increasing weight on integrity. 

Where things stand

Renewed interest in plantation forestry ACCUs doesn’t mean indiscriminate uptake, and it shouldn’t. What it does mean is that as compliance demand deepens and buyer scrutiny intensifies, well-designed plantation forestry projects – those built with rigorous accounting, genuine co-benefits and long-term supply in mind – are increasingly well positioned for the market that’s emerging. 

Explore our plantation forestry projects below. 

Warriup Forestry Project

The Warriup property is a 913 hectare permanent eucalypt forest located in the Wellstead Locale, 60 kilometres northeast of Albany, Western Australia. Positioned within the globally recognised Gondwana Link corridor, Warriup connects with the Green Range and Tinkelelup Nature Reserves—areas known for rich biodiversity and home to endemic and threatened species, including reports of quokka populations.

LEARN MORE

Sunnyside Permanent Planting Project

The Sunnyside Permanent Plantation Forest Project is a premium nature-based carbon solution that is a joint initiative between Carbon Neutral, Gondwana Link, and Forever Carbon Corridors. Located in the Southwest Ecoregion of Western Australia, one of the world’s most significant biodiversity hotspots, this project safeguards a 560-hectare Eucalyptus plantation on a 1,550-hectare property that was previously at risk of being cleared.

LEARN MORE

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Curiously, major sporting events aren’t treated with the same level of rigour. A World Cup can spend six weeks moving tens of millions of people across three countries and come out the other side with nothing more binding than a “sustainability strategy”.

And it just did. Let’s interrogate that a bit more closely.

The scale of this year’s World Cup

Global emissions have gone up almost every year this century, with 2020 the sharpest exception (for obvious reasons). Football has followed the same trajectory and this year’s World Cup didn’t buck the trend; it set a new one. 

The 2026 tournament was bigger and more widespread than anything before it: 48 teams and 104 matches representing a 63 percent jump in games from Qatar 2022, according to Greenly analysis. It ran 39 days, up from 29 in Qatar, across 16 host cities in the US, Canada and Mexico instead of five in one country, with sponsors, journalists, broadcasters and officials all criss-crossing the continent to keep up. 

Congratulations to Spain and to everyone who got to experience the World Cup in-person. But with victory comes a cost. 

So, what did the 2026 World Cup cost in carbon?

Greenly’s June estimate was 7.8 million tonnes of CO2e, 2.1 times Qatar 2022’s total (though FIFA didn’t publish those figures until two years after the final whistle, before which the Swiss Fairness Commission had already ruled its carbon-neutral marketing claims unsubstantiated.) 

Unsubstantiated or not, Qatar’s number included seven brand new stadiums built from scratch in the desert; this year’s infrastructure costs were a mere 3 percent of the total, since every 2026 venue already existed. So if it wasn’t the stadiums, where did the rest come from? 

The answer: spectator travel, and almost all of it. Nearly 88 percent of the tournament’s footprint came from fans getting to and from matches, against a rounding error of 0.2 percent for the teams themselves. 

Part of that is simply more people; attendance jumped from 3.4 million to 6.8 million, according to The World Data. Part of it is more places: two extra host countries and eleven extra host cities. And part of it is geography working against everyone involved.  

Qatar sits at the centre of the football world, within easy reach of Europe, South Asia and Africa all at once. North America doesn’t have that luxury. Greenly’s analysis stated that the average international spectator faced a return journey of roughly 19,400 kilometres, against 13,000 kilometres for Qatar 2022. 

It isn’t all bad news: the host grids run about 25 percent cleaner than Qatar’s and US hotels generate roughly a sixth of the emissions per guest per night that Qatar’s did. Unfortunately, none of that is enough to offset six million attendances spread across sixteen cities in three countries. 

The other figures circulating 

7.8 million wasn’t the only number thrown around. Writing in the Guardian in May, Jules Boykoff cited a separate scientific projection: around 9 million tonnes of CO2e and a worst-case upper estimate closer to 13.7 million. Greenly’s own report cited the same figure, attributed to a joint estimate from Scientists for Global Responsibility and the Environmental Defense Fund, sitting above its own modelling; two outlets, reporting independently, pointing back to the same underlying study. 

So, take your pick: FIFA’s bid-stage 3.7 million, built for an 80-match tournament; Greenly’s bottom-up 7.8 million, built from the actual 104-match format; or the 9 million that both the Guardian and Greenly trace to the same source. However you slice it, every independent recalculation lands well above what FIFA put in front of voters in 2018. 

The impact of climate change on the game itself

The increased projected carbon emissions of this year’s tournament is compounded by the fact that temperatures in North America have risen on average by 0.7°C since they last hosted the World Cup in 1994. 

For reference, the global union for professional football players (FIFPRO) considers games played in 28°C heat to be unsafe. Reuters analysis states that more than one in four games experienced dangerous heat conditions. Given that, prior to commencement, the US experienced its hottest 12-month period on record, this is not particularly surprising. Add in the fact that several stadiums hosting the 2026 World Cup did not have air conditioning and it’s a recipe that needs adjusting. 

In response to fears of extreme heat risk for players, FIFA introduced mandatory 3-minute hydration breaks, a measure that experts deemed too short to meaningfully impact rehydration and body cooling. Stadiums even allowed fans to bring soft plastic water bottles into stadiums, the risk to health outweighing the pollution associated with such bottle materials.

Was it worth it? What the World Cup made

FIFA initially budgeted around 11 billion US dollars in revenue for its 2023 to 2026 cycle, with this tournament as the centrepiece. That target has since been revised upward twice, with CNBC confirming tournament revenue of just over US$9 billion for 2026. 

The real figure won’t be confirmed until FIFA publishes its audited annual report for the 2023 to 2026 cycle. Historically, FIFA’s own in-the-moment estimates have landed below what independent analysts calculate after the fact. 

A tournament that can nail its own revenue projections to the billion but can’t manage the same discipline with its emissions numbers isn’t an accounting problem; it’s a question of what FIFA actually chooses to measure carefully. 

Who needs to pay?

World Cup fans stayed behind after matches to clean up the rubbish left in the stands, a small gesture that proved their love of the game. And good on them. But an individual with a rubbish bag shouldn’t be the only one who cares about the mess left behind by an event of this size. 

FIFA does have a Sustainability and Human Rights Strategy for this tournament, built around four pillars, one of which covers energy efficiency, waste and host-city transport planning. What it doesn’t contain, according to Greenly’s analysis, is a carbon budget, an updated emissions estimate, or any public commitment on how the final footprint will be reported. Notably, it says nothing about spectator travel, the category responsible for 88 percent of the problem. FIFA’s wider pledges, a 50 percent emissions cut by 2030 and net zero by 2040, apply to FIFA as an organisation, not to this tournament. 

Writing in Al Jazeera, Azzam Abu-Rayash proposed an alternative: a Sports Climate Responsibility Fund, financed by FIFA along with sponsors and broadcasters, with independent oversight. UEFA already ran something similar for Euro 2024, channelling close to 8 million euros into grassroots sustainability projects (though on a scale built for one country rather than three). 

It comes down to this: a World Cup with FIFA’s revenue and footprint owes fans, host cities and the planet more than a strategy document.

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At first glance the report suggests that we’re a nation “on track” to save nature. Experts at the Biodiversity Council of Australia beg to differ.

When intent outweighs impact 

At its core, the GBF relies on national self-reporting. Governments define their own indicators, assess their own progress and determine what “on track” looks like. 

Australia’s seventh national report follows this model, assessing progress across all 23 targets using a mix of policy commitments, partial datasets and forward-looking initiatives. 

But as the Biodiversity Council of Australia points out, much of this progress is framed around intent rather than outcome – policies announced, funding committed, strategies in development. 

Not ecological results. 

That distinction matters. Because biodiversity loss is not slowed by commitments; it is slowed by measurable change on the ground.

The gap between narrative and nature

The government’s “on track” framing sits in tension with Australia’s actual environmental trajectory. 

Australia’s 2025 Environment Report, from TERN and Australian National University, highlights continued declines in ecosystems and a growing list of threatened species, now exceeding 2,200 nationally. 

This creates a credibility problem. 

If biodiversity indicators continue to deteriorate while progress is reported as positive, then the issue is no longer just performance but how progress is being defined and communicated. 

As the Biodiversity Council of Australia argues, the report presents an “overwhelmingly positive self-assessment” that is difficult to reconcile with observed trends.

Why what isn’t counted still counts 

The accountability gap is also shaped by what is excluded. 

Analysis from ABC News highlights that Australia’s report does not quantify fossil fuel subsidies under GBF targets aimed at reducing harmful incentives – despite their well-documented impact on ecosystems. 

This omission matters because it distorts the baseline. Progress is being measured without fully accounting for the drivers of biodiversity loss. And without that, even genuine gains risk being overstated. 

Why this matters for markets, not just policy

This isn’t just a reporting issue. It has direct implications for how capital is deployed. 

As biodiversity moves from policy ambition into investable markets, credibility becomes everything. 

Investors and corporates are increasingly being asked to align with: 

• national biodiversity strategies 

• global frameworks like the GBF 

• and “nature positive” commitments 

But if progress is defined loosely at a national level, it creates a vacuum at the implementation level.

Where delivery starts to matter

This is where the conversation shifts. Because while national reporting may lean on intent, project-level delivery cannot. 

In Australia, mechanisms like the Australian Carbon Credit Unit framework are built around a different premise: 

• clearly defined methodologies 

• measurable sequestration or avoidance 

• independent auditing and verification

In other words, outcomes that must be demonstrated, not assumed. 

Well-designed land sector projects – particularly those that integrate carbon sequestration with biodiversity restoration – offer something national reporting currently struggles to provide: evidence of impact at a measurable scale. 

Reforestation, habitat restoration and landscape-scale projects don’t rely on future policy settings to deliver benefits. They deliver them directly, with data to support it. 

The threat of complacency and biodiversity loss

There is a more subtle risk in all of this: that “on track” becomes a comfortable narrative rather than a tested reality. 

Once progress is framed positively at a national level, it can dampen urgency across the system – from policy to investment. If the signal is that Australia is broadly meeting its biodiversity commitments, the pressure to fundamentally change land use, funding priorities or project delivery weakens. 

That matters because biodiversity loss is not a distant or abstract problem. It is cumulative, path-dependent and often irreversible. Delays in action are not neutral; they compound loss. 

The Biodiversity Council of Australia has been clear that current trajectories are inconsistent with meaningful recovery. And as reporting continues to rely on partial data and forward-looking commitments, the risk is that we normalise progress without evidence of reversal. 

For investors and corporates, this creates a difficult landscape to navigate. National signals suggest progress, while scientific assessments point to continued decline. 

This is why demonstrable, project-level outcomes become disproportionately valuable. They cut through ambiguity, provide a clearer line of sight between investment and impact and offer something national reporting currently struggles to deliver: confidence. 

Ultimately, credibility in biodiversity is not built on whether a country is “on track” in aggregate. It is built on whether individual interventions are measurably shifting ecological outcomes in the right direction. 

Closing the accountability gap 

If Australia is serious about closing the accountability gap, the shift required is clear: 

• from self-assessed progress → independently verified outcomes 

• from policy signals → ecological indicators 

• from aggregated reporting → site-level evidence 

This doesn’t diminish the importance of national frameworks. But it does reframe where credibility is earned. 

The reality is that biodiversity recovery will not be achieved through narrative alignment alone. It will come from scalable, measurable and investable projects that deliver real ecological outcomes – and most importantly – can prove it. 

That is where the private sector already has a role to play. Not in replacing government ambition, but in operationalising it. 

Because until progress is consistently measured in outcomes rather than intentions, the gap between what Australia says about nature and what is actually happening to it will remain. 

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Carbon Neutral has unveiled plans for what is set to become Australia’s largest environmental planting carbon project, marking a significant expansion of large-scale ecosystem restoration. This is occurring as demand accelerates for high-integrity CO₂ removal Australian Carbon Credit Units (ACCUs).

The Great Woodlands Renewal project, adjoining Western Australia’s globally significant Great Western Woodlands region, will restore more than 28,000 hectares of previously cleared land through large-scale revegetation and ecosystem restoration, ultimately establishing an estimated 16 million native trees and supporting broader native understory and habitat vegetation over coming years. The project is also expected to support long-term protection and management of approximately 6,000 hectares of remnant woodland and other ecologically significant habitat across the broader project area.

The restoration effort will support biodiversity recovery while helping address long-term landscape challenges associated with altered water cycles and dryland salinity across adjoining wheatbelt regions.

The scale of restoration is expected to make the project Australia’s largest environmental planting carbon initiative.

Carbon Neutral is leading development of the project in collaboration with its core partners Tiverton Global and Gondwana Link Ltd. The project further expands a longstanding relationship between Carbon Neutral and Gondwana Link focused on large-scale ecosystem restoration and biodiversity recovery across Western Australia’s south-west.

The project is expected to generate approximately 3.2 million ACCUs over its lifetime. This will add to a tightening domestic supply pipeline at a time when Australia’s carbon market is increasingly focused on the availability of high-integrity environmental planting ACCUs underpinned by a 100-year permanence period.

The announcement comes amid growing scrutiny over future ACCU supply and mounting corporate demand for environmental plantings capable of delivering both carbon removal and biodiversity outcomes. Analysts and market participants have increasingly warned that premium environmental ACCUs may become constrained as safeguard obligations tighten and large-scale restoration projects remain difficult to originate and finance.

Carbon Neutral Chief Executive Dr Phillip Ireland said the project represented a new phase in the scale and maturity of Australia’s environmental planting sector.

“This is not simply a carbon project – it is landscape-scale ecosystem restoration designed to deliver climate, biodiversity and long-term social, environmental and regional economic outcomes simultaneously,” Dr Ireland said.

“Projects of this scale are exceptionally rare, yet more important than ever in addressing the climate and biodiversity crises. The Great Woodlands Renewal project reflects the growing demand for high-integrity ACCUs linked to measurable environmental outcomes and long-term ecosystem restoration.”

The Great Western Woodlands span almost 16 million hectares in south-western Australia and are recognised as the world’s largest intact temperate woodland ecosystem, supporting more than 20 per cent of Australia’s plant species and globally significant biodiversity values.

The project comes amid growing concern over biodiversity decline in Western Australia and the limited pace of conservation intervention across the state.  Recent findings from the WA Auditor General identified 390 threatened or rare ecological communities, with approximately 72 per cent receiving no active monitoring.

Environmental market participants increasingly view large-scale private restoration initiatives as critical to helping bridge the gap between biodiversity protection ambitions and available public funding.

Gondwana Link Chief Executive Keith Bradby said large-scale restoration increasingly depended on collaboration across regions and communities.

“The scale of restoration required across these landscapes means long-term partnerships between landholders, regional communities and carbon project developers are becoming increasingly critical,” Bradby said.

“Projects of this scale have the potential to support broader regional participation over time as the restoration program builds its workforce and opportunities to support local communities.”

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Since joining the company last year as Head of Investment Opportunities, Su-Mei has played a key role in progressing the organisation’s commercial pipeline and strengthening its approach in the development and investment into large scale land restoration and carbon sequestration initiatives.  

This appointment reflects both her impact to date and the important role she will play as the company continues to expand on its position as one of Australia’s leading organisations in nature-based reforestation and carbon project development. 

With a background spanning ASX-listed companies across mining, biotechnology, agriculture and carbon, Su-Mei brings a breadth of experience to the role. Over the last 15 years, she has held senior executive positions in various public listed and private companies. She is recognised for her ability to bridge strategy and execution, combining commercial insight with financial expertise to help organisations scale and deliver on their ambitions. 

Her experience in carbon markets is particularly strong, with a focus on carbon farming and offsets. She has worked across project origination, financing and transaction execution, a career that aligns with her personal values in addressing the climate crisis through tangible environmental solutions. 

Su-Mei holds a Bachelor of Commerce degree from the University of Western Australia, complemented by a CPA and a GAICD from the Australian Institute of Company Directors.

“I’m excited to take on the role of Chief Commercial Officer and continue building on the momentum we’ve created over the past year. Carbon Neutral is uniquely positioned to deliver high-quality, nature-based solutions and I look forward to further developing our commercial strategy, expanding our project portfolio and deepening our partnerships.” 

said Su-Mei Sain

Carbon Neutral’s Chief Executive Officer, Dr Phil Ireland, said Su-Mei’s promotion reflects the strength of her contribution since joining the organisation.

“Su-Mei’s commercial mindset, depth of experience and understanding of carbon markets have already delivered tangible results for the business. We are delighted to have her on board as CCO; her ability to identify opportunities and drive strategic growth will be critical as we continue to scale.”

Dr Phil Ireland, Carbon Neutral Chief Executive Officer

But as a nation, we’ve struggled to properly value those gifts, let alone keep that value in the country for the benefit of the country. The recent discourse surrounding our gas exports is a glaring example. 

This same pattern has played out across land use, where ecological function has been traded for short-term productivity. As a result, Australia now has more degraded land than thriving landscapes; Flinders University estimates that Australia has lost nearly 40% of its forests since being settled. 

So, how did this happen? 

A legacy of landscape change and undervaluation

Following colonisation in 1788, Australia’s landscapes were rapidly transformed as vast areas of native vegetation were cleared for agriculture and grazing. Woodlands, grasslands and forests were converted into simplified production systems, while intensive grazing placed new pressure on already fragile soils. 

European land management practices were applied to a continent with very different ecological conditions. Australia’s ancient soils, variable rainfall and fire-adapted ecosystems were poorly suited to these approaches, creating a mismatch that reshaped how the land functioned.

The result is visible across large parts of the country today: declining soil health, rising salinity, reduced biodiversity and land that is harder to manage productively year after year. 

What’s left is land that no longer earns what it once did, but that hasn’t been restored either. It sits somewhere in between: degraded, simplified and stuck there. 

In times of increasing economic strife and decreasing productivity, Australia – now more than ever – needs to shift how it values its natural assets. 

Carbon: from compliance tool to strategic national asset

Carbon has traditionally been treated as a compliance requirement, shaped by the Safeguard Mechanism and, in voluntary markets, by corporate ESG commitments.  

But high-quality carbon projects are changing how parts of the economy recognise, price and manage natural assets – not by coincidence, but by design. 

When done properly, carbon projects don’t just generate credits. They change what land is worth and how it can be used. They create a reason to restore areas that would otherwise continue to decline, and a way to fund that restoration at scale. 

What counts as high integrity in the carbon market? 

According to the United Nations Development Programme’s High-Integrity Carbon Markets Toolkit, projects that deliver lasting value tend to share a few characteristics: 

• they restore ecological function, not just carbon stocks 

• they are designed for permanence, not short-term credit generation 

• they integrate social and cultural outcomes from the start 

• they are transparent in how outcomes are measured and verified 

High-integrity carbon projects deliver measurable environmental and social outcomes, something we discuss in further detail in this article on The Future of Co-Benefit Valuation in Carbon Markets.

In practice, the projects that restore natural capital over time are the ones that treat carbon as one outcome of a broader restoration effort, not the sole objective. 

At Carbon Neutral, we believe that biodiversity and ecological outcomes should be integral – not optional – to a carbon project and that Indigenous involvement should be embedded as a core feature.

Indigenous leadership: the foundation of project integrity

Traditional Owners bring cultural knowledge, long-term land stewardship and a connection to Country that strengthens how projects are designed and delivered.  

High-quality carbon projects are most effective when they are developed in genuine partnership with Indigenous communities from the outset, not added in later. This is not just about improving outcomes; it reflects the ongoing role of Traditional Owners in caring for Country and the importance of recognising that connection. 

All this to say, Indigenous leadership is central to shaping and governing projects, while cultural knowledge informs land management decisions and creates economic opportunities through employment and local community engagement. 
  
Projects that take this approach tend to be more durable and credible over time, with outcomes that benefit both the land and the people connected to it. Buyers and investors increasingly recognise projects that deliver these demonstrable outcomes, reinforcing trust in the market and generating long-term value for both communities and the broader environment. 

A shift in how Australia values its natural capital

Degraded or marginal land is increasingly being recognised as a source of national value through restoration. Investors, corporates and landholders are beginning to see these opportunities as commercially viable.  

Corporate investment in Australian nature‑based carbon projects 

In their Australia Carbon Credit Market Size, Share, and Trends: Forecast and Growth Analysis Report (2026-2035), Expert Market Research found that Australia’s carbon market was already valued at close to AUD $20 billion in 2025, with forecasts projecting growth of more than 25% annually over the next decade. 

This level of expansion is not being driven by policy alone; in their Annual Review of the Australian carbon market for 2025, energy transition research provider RepuTex found that secondary market trading reached almost 41 million ACCUs, with growth driven by increased participation and a 30% rise in transaction numbers. This signifies increasing participation from corporates and institutional investors allocating capital to carbon and natural capital initiatives.  

One such initiative is the Sunnyside ACCU Project, a Carbon Neutral project in collaboration with Gondwana Link and Forever Carbon Corridors. Together, we are protecting a globally significant biodiversity hotspot in Southwest Australia, safeguarding 750 hectares of high-value remnant native bushland that houses threatened fauna and supporting long-term ecological and cultural stewardship by the Menang people of the Noongar Nation. 

Nature-based ACCU projects like Sunnyside are changing the conversation around Australia’s natural capital, shifting perceptions from extraction to regeneration and management.  

This is not just a project – it’s a blueprint for premium carbon investment. Careful planning, robust standards and deep collaboration transform degraded land into a resilient, high-value asset. Carbon Neutral leads these initiatives from vision to execution, proving that strategic investment in Australia’s natural capital delivers real, measurable and lasting impact. 

Capturing the strategic upside 

Australia has the potential to become a global leader in high-integrity carbon projects. Such initiatives generate measurable outcomes at home, including regional development, risk reduction and ecosystem strengthening. 

Premium projects also enhance Australia’s reputation as a nation committed to responsible land management and ecological restoration, providing a chance to wind back two centuries of unchecked undervaluation and to forge a new path where what’s good for the landscape, the people and the economy is the same thing. 

Australian natural capital for the benefit of all Australians 

Australia is at a pivotal moment in recognising and valuing its natural assets. Carbon projects provide a mechanism to capture restoration and biodiversity benefits while generating economic value. 

High-quality projects align environmental, social, and economic outcomes, creating an opportunity to reset how the nation manages land for long-term strategic advantage. Investing in natural capital today delivers enduring national value – and that’s something we as a country will very much need tomorrow. 

Interested in protecting Australian natural capital? Visit Our Projects. 

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As a refresher, threatened ecological communities (TECs) are “unique groups of plants, animals and micro-organisms that live together and interact in a specific environment”. Once a TEC is destroyed, recovery is unlikely.

Here are some figures uncovered by the audit: 

In practical terms, this means that vast areas of ecologically significant land remain exposed to degradation long before they ever receive legislative safeguards.  

The Auditor General’s findings boil down to this uncomfortable reality: while biodiversity laws (like the Biodiversity Conservation Act 2016) exist, the department responsible for protecting threatened ecosystems is stretched well beyond its limits.

It cannot effectively track or demonstrate what impact its activities are having on the condition of TECs and considering how lengthy the process for listing TECs is, time is not on its side.

A sanctuary born from a gap

This is the context in which the Perenjori Hills Sanctuary now exists. 

Located within the Koolanooka Vegetation Complex in WA’s northern Wheatbelt, Perenjori Hills protects more than 1,000 hectares of remnant bushland that is recognised as a threatened ecological community under both state and federal law. It sits within one of the world’s recognised global biodiversity hotspots, supporting rare and declining plant communities and providing habitat for vulnerable species including the Malleefowl and the Pink Cockatoo. 

What makes Perenjori Hills different is not just the land itself, but the model underpinning it. Rather than relying solely on public funding or passive protection, the Sanctuary is actively managed through a privately funded stewardship approach.  

Carbon Neutral has committed to long-term, on-ground management that addresses the pressures that often drive slow, silent ecosystem collapse: 

• control of feral animals (like goats and cats)  

• management of invasive weeds and  

• protection of ecological processes critical for landscape resilience 

The Sanctuary is also part of a broader Nature Credits framework that enables corporate investors to fund measurable, long-term biodiversity protection. In simple terms, it offers a way for businesses to move beyond carbon alone and invest directly in the protection and recovery of ecosystems themselves. 

Why does this matter for business? 

Firstly, because the concept of environmental responsibility is evolving. Emissions reduction is still critical, but nature loss is now recognised as an equally material risk to economies, supply chains and long-term value.  

According to new research from S&P Global Sustainable1, 57% of the world’s largest companies have a significant nature dependency risk across their direct operations. So ecosystem collapse doesn’t just disrupt water systems, agriculture, infrastructure, insurance markets and community stability – it disrupts the global economy. 

But there’s also a reputational angle to consider. 

EY’s Nature Action Barometer reveals that while 93% of companies mention nature in disclosures, just 26% align with the Taskforce on Nature related Financial Disclosures (TNFD) framework. 

This gap represents a missed opportunity for businesses, especially where their customers are concerned. Today’s consumers expect more and are willing to pay for it; PwC’s 2024 Voice of the Consumer Survey found that 80% say they’re willing to pay more for sustainably produced or sourced goods. 

Perenjori Hills offers a rare opportunity to rewind the impact of ecological disruptions and bolster consumer sentiment in a credible, tangible and locally grounded way. 

The case for private funding 

The Auditor General’s report makes it clear that public agencies face challenges in long-term planning, consistent ecological monitoring, up-to-date recovery plans and the sheer resourcing required to actively manage threatened ecosystems at scale. 

The conclusion? 

Legal protection alone is not enough.  

Without funding for ongoing stewardship, many ecological communities will continue to decline despite their protected status. 

Who really carries the future of ecosystem preservation? 

The Wentworth Group’s Blueprint to Repair Australia’s Landscapes estimates that Australia needs at least $7 billion per year for 30 years to repair landscapes and meet its conservation goals, a scale far beyond current public funding. This highlights the need for additional investment sources, including private capital, to achieve long‑term outcomes. 

Private conservation is not about replacing government policy. It’s about reinforcing the system at precisely the point where it is under the most pressure. For corporate investors, this is not philanthropy in the traditional sense. It’s strategic, risk-aware capital deployment into assets that underpin environmental stability, social licence and long-term economic resilience.  

Investing in the protection of landscapes like Perenjori Hills is, in many respects, an investment in the foundations that future markets depend on. 

The next phase of conservation 

For private conservation to retain its integrity, governance must be rigorous, outcomes must be independently measured and commitments must extend well beyond short funding cycles. Conservation is generational work and credibility will rest on transparency, accountability and ecological results, not branding. 

But the path forward is clear. The gap between what legislation promises and what on-ground conservation can deliver is widening. At the same time, the private sector has both the capacity and, increasingly, the expectation to play a deeper role in safeguarding nature. 

To Perenjori Hills and beyond 

Perenjori Hills Sanctuary exists at that intersection. It is both a refuge for threatened ecosystems today and a signal of how conservation funding may evolve tomorrow. For companies thinking seriously about their environmental legacy, it offers participation in the protection of a living landscape at a moment when that protection is critically needed. 

Perhaps most importantly, the Sanctuary is not positioned as a one-off. It’s a template that could be replicated across other high-value ecological landscapes in WA and beyond. And that is where its broader significance lies; it points to a future in which private conservation is not niche but normalised as part of how Australia protects its natural capital. 

To register your interest in the Perenjori Hills Sanctuary, contact us. 

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The thing about carbon is that it doesn’t move through a landscape on its own. Every tonne stored reflects what’s happening in the soil beneath it, the condition of the surrounding ecosystem and the people who live and work on that land. As expectations change in Australia and overseas, this wider lens is starting to influence what the market truly values.   

Enter co-benefits – the environmental, socioeconomic and cultural outcomes that sit alongside carbon capture and that used to be considered pleasant footnotes. Now, they’re becoming a defining signal of integrity.  

So, what exactly are co-benefits?

Environmental

When we talk about environmental co-benefits, we’re talking about the ripple effects that sit beyond carbon storage alone. Well-designed nature-based projects can:  

• restore degraded landscapes  

• rebuild soil health  

• stabilise water cycles   

• create habitat connectivity for native species.   

These outcomes strengthen ecosystem resilience to fire, drought and climate extremes while actively reversing biodiversity loss. In this way, carbon becomes not just a climate tool but a catalyst for broader ecological recovery.  

Socioeconomic

These co-benefits are grounded in people and livelihoods. Many nature-based carbon projects create long-term regional jobs in planting, land management, monitoring and ecological services, supporting communities that are often vulnerable to economic volatility. Beyond employment, flow-on benefits include: 

• improved farm productivity  

• diversified income streams for landholders   

• increased investment in rural infrastructure and skills.   

This helps anchor climate action in real economic stability rather than abstract future gains.  

Cultural

Cultural co-benefits recognise that landscapes hold meaning far deeper than their carbon capacity. For many Indigenous communities, carbon and biodiversity projects create pathways to care for Country through traditional land management, cultural burning and species protection. These projects can: 

• strengthen intergenerational knowledge transfer   

• support cultural identity and custodianship  

• embed Indigenous leadership into contemporary environmental markets.   

In this sense, co-benefits reconnect climate action with the long human story of land stewardship in Australia.  

From “that’s nice” to measurable outcomes  

One of the biggest steps forward in the carbon project game is the move from feel-good anecdotes to measurable outcomes.  

It’s one thing to share a few species sightings or a nice project story with your audience but as the market evolves, buyers want receipts; according to the 2024-2025 Biodiversity Concerns Report, 71% of Australians believe businesses should be required to report their impacts on nature. Thankfully, science has caught up to make that possible.  

Learnings from Western Australia’s Wheatbelt 

Recent scientific guidelines are now making biodiversity co-benefits measurable, not just descriptive. In Guidelines to identify and quantify biodiversity co-benefits of carbon plantings, Parkhurst and Standish (2026) provide a practical framework for assessing biodiversity outcomes alongside carbon. Their work, grounded in a restoration-focused case study in Western Australia’s Wheatbelt, shows how ecological indicators can generate credible, repeatable evidence that aligns with reporting and investment needs.

Key insights from their WA case study include:

• In heavily farmed and fragmented landscapes, ideal reference ecosystems are rare, so projects rely on realistic “best available” benchmarks. 

• Soil condition was one of the clearest indicators of ecological improvement between planted sites and reference areas. 

• Native plant diversity and lower weed cover provided a strong signal of vegetation recovery. 

• Ant functional diversity offered the most informative measure of improved habitat quality for fauna, though it was also the most time-intensive and logistically demanding to monitor. 

Together, these findings demonstrate that with carefully selected metrics, biodiversity outcomes can move from anecdote to audited evidence, reinforcing investor confidence and providing measurable value alongside carbon sequestration.

Integrity is the new minimum  

Stakeholders want climate claims grounded in evidence – not just ambition – and large organisations are taking note, adopting integrity-first approaches that prioritise emissions reduction, validated co-benefits and transparent reporting over claiming carbon neutrality.   

Meta: a corporate example

In 2024, Meta signed a long‑term agreement for 1.3 million nature‑based carbon removal credits, with options to purchase an additional 2.6 million credits through 2038. This forms part of its Latin America reforestation program, aimed at reducing emissions while generating co‑benefits for biodiversity and local communities.  

It seems others are starting to follow this integrity-first approach. A 2025 report from SE Advisory Services showed that two‑thirds of companies now use recognised carbon standards and 55 % apply the Core Carbon Principles to assess project quality. 

Evidence‑based integrity is increasingly shaping corporate climate action and when organisations invest in projects with clear co-benefits, they reduce risk, strengthen trust and demonstrate climate action that stands up to future standards.  

Where the carbon market is heading  

All things considered, the direction is unmistakable: carbon markets are evolving into ecological markets and co-benefits are moving from the sidelines to the centre of value. Organisations that understand this now – and invest in projects with measurable biodiversity and landscape outcomes – will be well ahead as expectations continue to rise.  

If you’re interested in co-benefits, explore our projects. 

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Stepping off the plane in August, I was first greeted by the energy of Ho Chi Minh City. After a quick stop, warding off the jetlag with a glorious Vietnamese coconut coffee and banh mi, I boarded the smallest plane I’d ever been on. Looking down, I flew over miles of degraded mangrove forests and the varying blues of shrimp ponds, a striking visual prelude to the two emblems of my destination: Cà Mau. 

The purpose of this trip was to conduct a critical stakeholder consultation and an in-person, co-designing session for Save the Children’s mangrove restoration project. After years of collaborating online, it was a genuine pleasure to finally meet our colleagues at Save the Children Vietnam and, of course, the people of Cà Mau, whom the program aims to support. 

The Foundational Blueprint for Action 

The sheer complexity of the project and the urgency of the threats we discussed meant that the August consultation wasn’t an endpoint; it was the foundational blueprint for further piloting of project activities to make sure we do right by the communities, through co-design and working in unison. 

Since returning, the team has been focused on translating local insights into a scalable program. We are utilising the consultation data to finalise our carbon finance mechanism. The hope is to allow Save the Children to expand this more sustainable model of aquaculture and mangrove restoration to more farmers across the Delta and potentially the Southeast Asia region. Crucially, Save the Children is designing the program to address the local issue of youth migration, aiming to give the next generation hope for a sustainable, prosperous future at home. 

The hard work is being done behind the scenes now to build the operational structure. I am deeply optimistic about the momentum we are building and I’m looking forward to sharing the next update as we move from detailed design into piloting and deployment. 

About the author

Tali Rogers | Project and Research Officer

Tali’s background in international business and sustainability makes her a valuable asset to Carbon Neutral. A 1st class graduate in International Business Management from the University of Bristol, she brings strong analytical and research skills to her role in the International Partnerships division. Since moving to Australia in November 2023, she has combined her attention to detail with a passion for sustainability, guided by a deep commitment to integrity and achieving fair outcomes for both people and the planet.

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Falbala Returns to Eastern Maar: A Milestone in Land Justice and Carbon Farming

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In this environment, businesses can no longer afford to approach carbon project engagement as a transactional obligation. The risks are too high, the stakes too visible and the market too discerning. What’s needed is an unwavering commitment to carbon integrity – a principle that sits at the heart of Carbon Neutral’s philosophy and project delivery. 

Safeguarding Corporate Reputation 

Many see carbon auditing as a bureaucratic exercise; a compulsory hurdle to clear before project certification. But this mindset overlooks the true purpose of rigorous validation: to anchor trust at every stage of the project process. For Carbon Neutral, auditing is not an afterthought – it is a defining feature of our project blueprint. 

We recognise that our clients measure value by the security and credibility of their offsets. An ACCU is more than evidence of abatement; it is a financial asset, a compliance lever and often the public face of a company’s climate ambition. Yet none of these attributes matter if the underlying offset cannot withstand independent and public scrutiny.

That’s why our teams move beyond standard procedures:

• Ground-level measurement: Employees are present in the field, undertaking meticulous ecosystem monitoring, tree measurement and data recording. These activities generate datasets that speak to genuine environmental transformation, not simply intention. 

• Transparent evidence trails: Every field visit, every data entry and every ecological milestone is recorded and maintained for the constant improvement and transparency of the audit process. 

• Alignment with the Clean Energy Regulator: From methodology to reporting format, Carbon Neutral mirrors the regulatory frameworks that underpin market confidence. Projects are designed with auditing in mind from day one. 
   

Offsets Without Integrity Risk More Than Compliance 

For Australia’s largest emitters, every carbon credit represents a convergence of risk and opportunity. The risks of engaging inadequate or non-compliant project developers are tangible: 

• Reputational fallout from greenwashing accusations can erase years of ESG progress. 

• Financial exposure arises when credits lose their value due to failed audits or regulatory changes. 

• Investor distrust can surface if there is any suggestion that climate claims are not fully substantiated. 

That’s why, at Carbon Neutral, audit readiness is not just a feature – it’s a promise. Each project track is crafted to not only satisfy current Clean Energy Regulator (CER) standards but also to anticipate an evolving policy and market landscape.

What Integrity Really Looks Like 

Integrity is the unspoken contract between carbon project developers and those whose reputations and assets rest on their work. Carbon Neutral’s process strengthens this contract at every stage: 

• Data systems built for scrutiny: Our constant improvements to monitoring tools and reporting platforms help us to meet – and exceed – auditor expectations. 

• Proactive compliance: By aligning our methodologies with regulator and offset integrity standards, we reduce uncertainty for clients and safeguard against policy change. 

• Risk mitigation beyond carbon: Our approach includes detailed permanence strategies and robust natural risk management, ensuring credits are resilient to both operational and environmental reversals. 

This is more than simple compliance – it is market leadership in integrity. 

Why Legacy Is the Strongest Climate Asset 

Business leaders understand that legacy is not built on what is easy or expedient, but on what endures. Carbon projects, if done right, are far more than a purchase on a ledger; they are a lasting demonstration of corporate stewardship and vision. 

Every tree measured, every hectare nurtured and every evidence trail maintained is a testament to credibility for all stakeholders – from shareholders to local communities. 

Meeting the Demands of a Compliance-Driven Era 

Australia’s compliance landscape is only tightening, with regulators, watchdogs and communities showing little patience for offsets with questionable provenance. High emitters face increasing expectation – from within and beyond their organisations – to back claims with rigor, transparency and auditable results. 

Carbon Neutral welcomes this challenge. We invite scrutiny, build for it and thrive in it. Our field teams do more than plant trees; they cultivate trust, one data point and one report at a time. Every ACCU we help deliver is a promise: robust, defensible and ready to stand the test of regulation and public expectation. 

For businesses seeking not just fleeting compliance but a climate legacy, project integrity is non-negotiable. At Carbon Neutral, this integrity is built in from the ground up – because in carbon markets, trust is the only currency that endures. 

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