FIT 2024 Carbon Project

FIT 2024 Carbon Project is a plantation forestry project located across multiple sites in the Great Southern and South West regions of Western Australia. The project areas are situated approximately 5km north of Greenbushes, 25km southwest of Kojonup, and 15km southeast of Cranbrook. Registered in February 2024, the project covers approximately 504 hectares of land traditionally used for mixed farming, grazing, and commercial forestry.

The project operates under the Carbon Credits (Carbon Farming Initiative, Plantation Forestry) Methodology Determination 2022. It involves two key activities: establishing new plantation forests on land that has been clear of forest for at least seven years, and converting existing short-rotation plantations to long-rotation forests. In this context, "short-rotation" typically refers to growing Tasmanian Blue Gum (Eucalyptus globulus) for woodchip and pulp markets with a harvest cycle of around 10–15 years. By switching to "long-rotation," the proponent manages the trees to mature into sawlogs or structural timber over a period of 20 years or more, thereby sequestering carbon for a longer duration in both the standing trees and the resulting wood products.

The region features a Mediterranean climate characterized by hot, dry summers and cool, wet winters. Rainfall varies significantly across the project sites, ranging from high rainfall in the Greenbushes area (exceeding 900mm annually) to medium rainfall in the inland Cranbrook and Kojonup districts (approx. 500–600mm). The soils in these areas are predominantly ancient and weathered, consisting largely of lateritic gravels, duplex sandy loams, and clays which are well-suited to forestry but can be nutrient-poor without management.

The project proponent, The Trust Company (Australia) Limited, acts as the trustee for the Forestry Investment Trust (FIT). FIT is managed by New Forests, a global investment manager specializing in sustainable forestry and nature-based solutions. The Forestry Investment Trust is one of Australia's largest hardwood estates, comprising over 110,000 hectares of certified plantation forests. An interesting facet of FIT's operations is their long-standing partnership with BirdLife Australia to monitor biodiversity, ensuring their plantation mosaics provide habitat for native bird species.