FIT 2024 Carbon Project

FIT 2024 Carbon Project is a plantation forestry project located across multiple land parcels in Western Australia's South West and Great Southern regions, situated approximately 10 to 15 kilometres southwest of Boyup Brook and 45 kilometres west of Mount Barker. It was registered in February 2024 and covers an initial area of 503.96 hectares.

Plantation forestry projects involve sequestering carbon by establishing new plantation forests or altering the management of existing ones. Standard methodology requirements mandate that the trees must be managed and maintained for the commercial harvesting of wood products.

The Boyup Brook and Plantagenet shires are well-known for mixed agricultural land use, heavily featuring sheep and cattle grazing, broadacre cropping, and commercial timber operations. The environment provides ideal growing conditions, experiencing a Mediterranean climate with moderate to high winter-dominant rainfall. Soils across this region are generally composed of sandy loams, lateritic ironstone gravels, and duplex clay.

This project sequesters carbon by both establishing a new plantation forest and converting an existing short-rotation plantation (often used for woodchips) into a long-rotation plantation (typically used for sawlogs). The proponent, The Trust Company (Australia) Limited, acts as the trustee for the Forestry Investment Trust, a large-scale institutional investment vehicle managed by the global real asset manager New Forests. Additionally, in November 2024, a variation was made to the project to add new land areas, successfully expanding its overall carbon sequestration footprint.