Reef Credit Scheme

An Australian first, the Reef Credit Scheme delivers 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.

Our funding commitment

The Queensland Government has committed $10 million to help kick-start the Reef Credit market, recruiting brokers to work with landholders to establish Reef Credit projects on grazing and sugarcane properties, and to secure potential buyers for the Reef Credits generated.

Brokers, Palladium and Greencollar, have been awarded contracts through an open procurement process.

Palladium

Palladium will work with Griffith University to carry out a series of projects on grazing properties to rehabilitate eroded gullies.

GreenCollar

GreenCollar in a consortium with Greening Australia and in existing partnerships with Neilly Group, Agriprove, Verterra and NQ Dry Tropics will work with landholders and delivery partners to generate credits from land management projects that reduce run-off of dissolved inorganic nitrogen from fertiliser and fine sediment from gully erosion on agricultural properties.

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.