HPUT Carbon Project Schedule 1

HPUT Carbon Project Schedule 1 is a plantation forestry project located near the rural locality of Stonehenge in the Southern Midlands of Tasmania. Situated approximately 70 kilometers north of Hobart and inland from the east coast town of Triabunna, the project area spans 2,142 hectares within the "Eastern Tiers" region. This area is topographically defined by rugged hills and plateaus, traditionally utilized for a mix of forestry operations and extensive grazing on native pastures.

Registered in November 2023, the project operates under the 2022 Plantation Forestry methodology. Its primary activities include establishing new plantation forests and converting existing short-rotation plantations, typically harvested for woodchips, into long-rotation forests suitable for high-value sawlogs. By extending the growth period of the trees, the project sequesters additional carbon over time while maintaining a commercial timber output.

The Eastern Tiers region typically experiences a moderate, variable rainfall climate, sitting in a partial rain shadow compared to Tasmania's wet western districts, yet receiving sufficient moisture at elevation to support commercial timber. The terrain is dominated by Jurassic dolerite, resulting in stony but relatively fertile clay-loam soils that are well-suited for forestry species such as Eucalyptus nitens or Pinus radiata.

The project has attracted attention in regional policy discussions; a 2024 report by the University of Tasmania cited the HPUT project as a key example of how carbon credits can act as "icing on the cake" for the forestry sector, incentivizing new establishment where timber returns alone might be marginal. Originally listed under Eastern Tiers Pty Ltd, the project proponent changed in May 2025 to a trustee entity associated with Fife Capital, an asset management firm, indicating institutional investment in the region's timber assets.