Gippsland 2024 Carbon Project

Gippsland 2024 Carbon Project is a plantation forestry project located across multiple sites in Victoria, predominantly in the Gippsland region near Traralgon and Yarram, with additional sites extending to the North-East near Corryong and Western Victoria near Casterton. It was registered in June 2024 and covers a rapidly expanding area of 1,183.25 hectares.

Plantation forestry projects under the 2022 methodology involve the avoided conversion of an existing or recently harvested plantation forest. Standard requirements dictate that the plantation must be maintained to meet the definition of a forest (typically achieving at least 20% crown cover and 2 meters in height) and continue its commercial rotation cycles, preventing the land from being cleared and converted for non-forested agricultural use.

The regions encompassed by the project are well known for commercial softwood and hardwood forestry operations, as well as dairy farming and cattle grazing. These areas are characterized by a high rainfall climate, making them highly suitable for forestry. The soils across these Victorian plantation hubs are generally fertile volcanic ferrosols, kurosols, and moisture-retaining clay loams.

An interesting aspect of this project is its aggressive expansion. Between April 2025 and August 2026, the project underwent nine distinct area variations, systematically adding more land. This reflects the strategy of the proponent, Hancock Victorian Plantations (HVP), one of Victoria's largest private timberland owners, managing over 170,000 hectares, to progressively evaluate and fold newly eligible plantation blocks into their carbon portfolio. Generating carbon credits provides early cash flow in the life of plantations, supporting HVP's broader net-zero commitments.