Biodiverse Carbon Conservation Bush (Revoked)

Biodiverse Carbon Conservation Bush (Revoked) was an environmental planting project located near Gunning in the Southern Tablelands of New South Wales, approximately 60km north of Canberra. Registered in July 2015, the project covered a small area of roughly 34 hectares. The project was revoked in August 2017 after two years of operation.

Environmental planting projects under the 2012 Carbon Farming Initiative (CFI) methodology involved establishing permanent native forests on land previously cleared for agriculture. These projects are typically required to plant species native to the local area at a density sufficient to achieve forest cover (generally defined as reaching over 2 meters in height and 20% canopy cover). The methodology used the "CFI Reforestation Modelling Tool" to estimate carbon sequestration rather than direct field measurement, relying on computer models to predict growth based on location and species.

The Gunning and Southern Tablelands region is traditionally known for fine wool (Merino) grazing and cattle farming. The area experiences a cool temperate climate with an average annual rainfall of approximately 600-650mm. The soils in this region are predominantly texture-contrast soils such as Chromosols and Sodosols, which often feature loam topsoils over clay subsoils and can be susceptible to erosion if vegetation cover is removed.

A significant aspect of this project is its revocation under Section 33 of the Carbon Credits (Carbon Farming Initiative) Act 2011. This section pertains to "voluntary revocation," indicating that the proponent, Australian Integrated Carbon Financial Services (AICFS), requested the cancellation of the project. This is distinct from a forced revocation for non-compliance. AICFS is notable in the industry for holding an Australian Financial Services Licence (AFSL), allowing them to deal in carbon credits as financial products, a capability not held by all project developers.