Document ID: chunk:federal_register_of_legislation:F2024L01473:clause:1_63
Version: federal_register_of_legislation:F2024L01473
Segment Type: clause
Provision Reference: sch 1 cl 63
Character Range: 62313–63594

63  Calculating initial carbon stock for project area
         (1) The initial carbon stock for a project area must be calculated in accordance with this section.
         (2) The initial carbon stock for a project area is:
           1.     if:
               1.             the project area was a project area of an eligible offsets project to which this determination or another CFI methodology determination applicable to reforestation projects applied at the declaration date of that reforestation project; and
               2.             the reforestation project commenced in that project area before that date;
        equal to the initial carbon stock for the project area calculated in accordance with subsection (3); and
           1.     for all other project areas—zero.
         (3)  For the purposes of paragraph (2)(a), the initial carbon stock for the project area must be calculated using the following formula:
  Equation 7

          where:
  initial carbon stock for the project area (in tonnes CO2-e).
  initial carbon stock for the ith carbon estimation area at the relevant declaration date, D (in tonnes C)—see Equation 9.
  total number of carbon estimation areas in the project area at the relevant declaration date D.
  ith carbon estimation area.