Limestone2026R_WaverlyWest_S3

Limestone2026R_WaverlyWest_S3 is a Plantation Forestry project located in the Green Triangle region of Victoria, approximately 25km west of Hamilton near the town of Branxholme. It was registered on May 6, 2026, and covers an area of 145.41 hectares.

Plantation Forestry projects under the Schedule 3 (Avoided conversion) methodology involve maintaining an existing or recently harvested plantation forest that was otherwise slated to be cleared and permanently converted to non-forested land. To generate carbon credits, proponents must establish and maintain a new plantation forest for the commercial harvesting of wood products, ensuring standard commercial tree stocking densities and management practices are upheld.

The Branxholme and broader Green Triangle region is renowned for its dual land use: extensive commercial plantation forestry (both softwood pine and hardwood blue gum) alongside traditional agriculture, particularly sheep and cattle grazing. The environment is highly conducive to tree growth, featuring reliable winter-dominant high rainfall (typically 600-800mm annually). The regional soils vary widely, generally consisting of well-drained sandy loams, heavy clays, and limestone-based soils.

This project sequesters carbon by avoiding the conversion of the estate to agricultural pasture. Interestingly, the specific "Waverly West" property in Branxholme has a documented history of producing high-value merino sheep, highlighting the genuine economic pressure and temptation to revert forested land to grazing. The project is operated by OneFortyOne Plantations, with SFM Agribusiness acting as the ongoing asset manager following OneFortyOne's recent acquisition of the "Limestone Plantations" estate. Retaining these trees directly supports OneFortyOne's corporate sustainability target to reach over one million tonnes of carbon abatement annually by 2030.