Best Carbon Project (Revoked)

Best Carbon Project (Revoked) was a soil carbon sequestration project located in the Meander Valley region of Tasmania, specifically near the locality of Weegena. The site is situated approximately 15km northwest of the town of Deloraine and 40km south of the major port city of Devonport. Registered in October 2020, the project covered an area of roughly 160 hectares.

The project operated under the Measurement of Soil Carbon Sequestration in Agricultural Systems methodology. This method requires landholders to establish a baseline of soil carbon stocks through physical sampling and then implement new management activities, such as the pasture rejuvenation and seeding cited in this project's description, to sequester additional carbon. Credits (ACCUs) are awarded based on the measured increase in soil carbon over time compared to the baseline.

The Weegena and Deloraine region is characterized by productive agricultural land, primarily used for grazing (dairy and beef) and cropping. The environment is classified as a high-rainfall zone, with annual precipitation often exceeding 1,000mm. The soils in this specific area are typically Ferrosols (red basalt soils), which are well-drained and highly fertile, making them ideal candidates for soil carbon projects due to their capacity to store organic matter.

On September 3, 2024, the project was revoked under section 30 of the CFI Rule. Section 30 revocations are voluntary, requested by the project proponent. This often occurs when a project is found to be commercially unviable, the land is sold, or the proponent wishes to restart the project under a different configuration or baseline. The proponent, AgriProve Solutions, is a prominent developer in the Australian soil carbon market, known for using soil technology to streamline the registration and sampling process.