Yellow Wattlebird 2022 Project

The Yellow Wattlebird 2022 Project is a plantation forestry project located across the dispersed estate of Tasmania's largest private forest manager, Forico. The project area spans approximately 1,339 hectares across Northern Tasmania, with specific sites identified near Scottsdale in the northeast, Hampshire and Waratah in the northwest, and Sheffield in the north-central region. Registered on August 11, 2023, the project is managed by Forico Pty Limited on behalf of The Trust Company (Australia) Limited, serving as the vehicle for the Tasmanian Forest Operating Sub Trust.

This project operates under the Carbon Credits (Carbon Farming Initiative, Plantation Forestry) Methodology Determination 2022. Specifically, it utilizes the "Avoided Conversion" activity (Schedule 3). This methodology credits projects for retaining established plantation forests that were scheduled to be converted into non-forested land, such as pasture for agriculture. By demonstrating that clearing the trees for agricultural use was a financially viable and planned alternative, the proponent earns carbon credits for maintaining the trees and the carbon they store.

The project sites are situated in Tasmania's cool temperate regions, characterized by reliable high rainfall and fertile soils. The region typically features Ferrosols (red basaltic soils) and Dermosols, which are highly productive for forestry. These conditions support the rapid growth of Eucalyptus nitens (Shining Gum), the dominant hardwood species in Forico's plantation estate. The surrounding land use is a mix of intensive forestry, dairy farming, and grazing, reflecting the high agricultural value of the land the project actively avoids converting to.

An interesting note is the project's naming convention; the Yellow Wattlebird (Anthochaera paradoxa) is Australia's largest honeyeater and is endemic to Tasmania, aligning with Forico’s stated focus on valuing natural capital and biodiversity alongside timber production. This project is part of a broader portfolio managed by New Forests, a global investment manager emphasizing nature-based real assets.