Carbon Project 2 - MRF

Carbon Project 2 - MRF is a plantation forestry project located in the Greater Hume region of New South Wales, situated approximately 25km west of Tumbarumba and 40km east of Holbrook in the South West Slopes. Registered in August 2024, the project covers a total area of 280.58 hectares.

Plantation forestry projects operating under the "avoided conversion" activity generate Australian Carbon Credit Units (ACCUs) by committing to retain and replant an existing or recently harvested commercial plantation. Instead of converting the harvested land to a non-forested agricultural use such as grazing pasture, the proponent agrees to maintain the forest for another rotation of commercial wood products. This legally protects the forest land use and sequesters carbon that would have otherwise been lost to land clearing.

The surrounding South West Slopes area is heavily utilized as a hub for softwoods and agriculture, characterised by a mix of commercial pine plantations and cattle grazing. Environmental conditions in this region are considered highly suitable for commercial timber production like Pinus radiata, featuring a cool temperate climate with high average rainfall that often approaches or exceeds 900mm annually. The local soils generally consist of acidic granitic loams and red clay loams, which support the deep rooting depths required by plantation forests.

An interesting note about this project is its connection to New Forests, a major global forestry investment manager. In September 2025, a project variation was registered transferring the participant name from The Trust Company (PTAL) Limited, acting as the trustee for ANZFOF2 Sub 1, to the current proponent, Murray River Forests Pty Ltd. ANZFOF2 refers to the Australia New Zealand Forest Operating Fund 2, an investment fund managed by New Forests. Murray River Forests manages a substantial regional pine estate supplying sawlogs and pulpwood to local processors such as Hyne Timber and Norske Skog, and this carbon project ensures the estate remains forested despite ongoing economic incentives to convert the land to farming.