Environmental credit schemes present an exciting alternative market mechanism to support investment in natural resource management.
Government agencies legislate credit schemes and develop the scheme methodologies. Our task is to provide the tools to allow the market to more easily engage in the schemes.
Environmental credit schemes set out the details and methods to implement each scheme. But the difficulty in getting a scheme transacting is how to interpret and implement the methods so that project brokers can engage in the scheme to create credits for investors to purchase.
Natural Capital Credit is operationalising environmental credit schemes by providing the software tools to implement scheme methods.
Who it is for
Natural Capital Credit is designed for project design and delivery organisations ‘project brokers’ who work with landholders to develop projects.
Application development: Truii
The Reef Credits DIN method V1.1 specifically requires the use of the P2R Projector application to estimate reductions in Dissolved Inorganic Nitrogen (DIN) lost from agricultural land through improved soil and nutrient management processs.
The Natural Capital Credit reef credit application has been designed to overcome a key limitation in the use of P2R Projector in a crediting scheme due to frequent updating of the computational method, as well as provide data collection fields and verification methods required by the Reef Credits scheme that are not a feature of the P2R Projector application.
P2R Projector and computational version limitation
The P2R Projector application is designed for project capture and modelling of water quality improvement to support the Paddock to Reef Investment program to support the reef 2050 water quality program. The P2R Projector modelling is based on the Queensland state government paddock and catchment modelling program. To ensure that P2R Projector gives the latest available modelling prediction to best inform project design, it is frequently revised and updated to reflect any changes to modelling. However, frequent changes to the method of calculation are unsuitable for a credit scheme. For a credit scheme, the method of credit calculation must not change over the life of the credit project. Reef Credit projects apply for many years, with an annual credit reporting process that needs to use the same method across the life of a project.
Reef Credit modelling version
At the time of creation of a project in Natural Capital Credit, the version of the computation is set for that project. All future modelling predictions for that project will use the same version of the modelling. For new projects, the version used in Natural Capital Credit is the P2R Projector version on the date of creation of the Reef Credit project.
Handling existing Reef Credit projects
Existing Reef Credit projects (using earlier versions of P2R Projector) are handled, such that at the point of import of the first file from a P2R Projector file into Natural Capital Credit, the version of the computation is set to that import file computation version.
Natural Capital Credit access is curated. To get you started we need to create a group for you. Once created you control membership to your group.