Carbon Project 2 - MRF

Carbon Project 2 - MRF is a plantation forestry project located in the Greater Hume Shire of New South Wales, approximately 25km west of the forestry town of Tumbarumba and 40km east of Holbrook. Registered on August 14, 2024, the project covers 280.58 hectares of existing plantation land. In September 2025, the project participant structure was updated, transferring from The Trust Company (PTAL) Limited (acting as trustee for the ANZFOF2 Sub 1 fund) to the proprietary entity, Murray River Forests Pty Ltd.

The project operates under the Carbon Credits (Carbon Farming Initiative, Plantation Forestry) Methodology Determination 2022, specifically focusing on the "avoided conversion" activity. This methodology credits projects for maintaining established plantation forests that were at clear risk of being converted to non-forest land uses, such as agriculture or grazing. By continuing the plantation rotation instead of clearing the land for pasture, the project avoids emissions associated with removing trees and disturbing the soil, while continuing to sequester carbon in the timber stock.

The project area lies within the South West Slopes region, an area characterized by high rainfall and fertile granitic or clay loam soils that support both productive softwood forestry (typically Pinus radiata) and livestock grazing. The region is a significant hub for the timber industry, with Murray River Forests Pty Ltd, managed by the global investment manager New Forests, being a key stakeholder. This project is the second in a series by the proponent, following "Carbon Project 1 - MRF," which was registered in 2023.