Koala Friendly Carbon Initiative (KFCI) Program Expansion

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Location
Snowy Mountains, New England, Northern Rivers, Mid North Coast
Grant Awarded by the Department of Climate Change, Energy, the Environment and Water
$1. 5 million
Co-funding committed to by Grantee
$5,105,578
Proponent
World Wide Fund for Nature Australia
Expected abatement
450,000 tCO2-e
Project Type
Environmental Planting
Co-benefits
- Flood and fire mitigation
- Erosion control
- Employment for Indigenous Rangers
- Enabling alternative income streams for landholders
- Enhanced ecosystem services for local and regional communities including erosion control, water quality, and land repair through restoration of ground cover and vegetation
Project summary
Eastern Australian forests face excessive deforestation despite being a global biodiversity hotspot, leading to adverse outcomes for species and habitats. To counteract this, WWF-A is collaborating with Climate Friendly to pioneer the Koala Friendly Carbon Initiative (KFCI) Program. This initiative aims to restore koala habitats through innovative carbon farming practices. By providing funding and expertise to land managers, KFC incentivises the cultivation of koala habitats through the generation of ACCUs sold with a biodiversity premium. A portion of these revenues are paid into a revolving fund that is reinvested into new planting projects to achieve a self-sustaining planting fund. This project will deliver more than 500 hectares of koala habitat restoration.