In April 2016 Port Macquarie-Hastings Council lodged a successful bid in the Emissions Reduction Fund (ERF) auction, providing Council with funding for renewable energy projects in excess of $1 million over seven years.
The ERF is a voluntary scheme where the Federal Government purchases carbon credits from a wide range of sources, providing incentives to businesses, households and landowners to adopt new practices and technologies to reduce their emissions.
Council’s bid utilised carbon credits generated through the operation of the former alternate waste treatment plant and through the Organics Resource Recovery Facility at the Cairncross Waste Management Facility.
Information on the Clean Energy Regulators web site shows that a total 50,471,310 tonnes of abatement were purchased in the ERF at a total value of $516,177,598. Council was one of 33 successful bidders that covered 73 projects nationwide.
Proceeds from the successful sale of these carbon credits will provide Council with funding for local renewable energy initiatives with a positive return on investment.
Further information on the Federal Government Emissions Reduction Fund is available at cleanenergyregulator.gov.au.
This page was last updated on: 19 June 2019