Information for carbon project developers
Key dates
Stage 1 Initial applications for Investment Round 3 are now closed.
- Stage 1 Initial applications opened on 13 April 2023 and closed at 2:00pm (AEST) on 16 June 2023.
Please note changes to Stage 2 application timing:
- If you are shortlisted for Stage 2, you will be notified in September 2023.
- Stage 2 Final applications close 2:00pm (AEST) on 13 October 2023.
The total funds to be invested through the LRF Investment Round 3 is up to $50 million with a maximum of $10 million per project, noting that a project may comprise more than one registered carbon farming project.
Below is a summary of the key changes made for Investment Round 3.
Eligibility changes
1.1 Increased requirement for priority methods
At least 50% of all Australian Carbon Credit Units (ACCUs) contracted to the LRF through Round 3 must be generated from priority vegetation and savanna burning methods, known as Tier 1 methods. Find out more about Tier 1 and 2 methods in the Round 3 Guidelines .
Application process changes
2.1 Application Stage 1 requested an indicative project value and ACCU volume estimate only
The assessment of applications for Round 3 involves two stages. Stage 1 applications were asked for estimates of the total investment sought from the LRF and number of ACCUs to be generated and sold to the LRF.
In Stage 1, applicants were asked to submit:
- an indicative project price
- an estimate of the total ACCUs the project will deliver
- an estimate of the total ACCUs the project will contract to the LRF.
Shortlisted applications must provide a fully costed commercial proposition in assessment Stage 2.
Step through the updated application process for Round 3 in the Applicant process map .
Assessment changes
3.1 Priority consideration given to projects:
- using vegetation or savanna burning methods that demonstrate improved outcomes for threatened ecosystems and/or unregulated vegetation (‘Category X’ under the Vegetation Management Act 1999)
- that nominate a 100-year permanence period
- that include a commitment to some form of recognised legal security over the project area, over and above the protection of the permanence period, e.g. a nature refuge (private protected area under the Nature Conservation Act 1992).
Projects that do not include one of the above priorities remained eligible.
Contracting changes
4.1 Revised contract (Project Investment Agreement)
Proponents have the option to sell surplus project ACCUs with co-benefits attached on the private market.
Workshop registration
The LRF in partnership with NRM Regions Queensland and the Queensland Farmers’ Federation held workshops and webinars in April 2023. Watch the recording of the Landholder Webinar.
Future Investment Rounds
Be notified of new carbon farming opportunities available through the LRF by signing up to the mailing list.
Investment Round 3 resources
- Project eligibility checklist
Ensure your project meets the minimum eligibility criteria for Investment Round 3 by going through the checklist before you start your application. - Application process map
Moving from application to signed contract involves several stages. Make sure you know what happens at every step of the application and contracting process so you can plan accordingly. - LRF Investment Application Guidelines
Detailed guidance on the submission process and application requirements. - LRF Co-benefits Standard v1.4
All LRF projects must deliver co-benefits alongside carbon abatement or avoidance. The Co-benefits Standard explains what co-benefits are, how they are defined and how LRF projects are expected to measure and verify their co-benefits. - Using online tools to assess eligibility for Land Restoration Fund environmental co-benefits
This document specifies which free online software can be used to help identify eligibility for each environmental co-benefit class. - Priority Investment Plan
The LRF Priority Investment Plan sets out the vision and objectives for the LRF and specifies the key priorities for achieving these objectives. The LRF Investment Panel invests in projects that best meet the LRF’s key priorities. - Project Investment Agreement
Contract offers made through Investment Round 3 will follow standard terms and conditions set out in the Project Investment Agreement. Ensure you understand how these terms and conditions are likely to affect you from a legal standpoint before applying. - Investment Rounds Report
Learn about the investments the LRF has made including project metrics such as average ACCU and co-benefits prices and the percentage of projects that were offered contracts in each round.