Document ID: chunk:federal_register_of_legislation:F2021L01696:clause:2_21:p1
Version: federal_register_of_legislation:F2021L01696
Segment Type: clause
Provision Reference: sch 2 cl 21 (pt 1/2)
Character Range: 56061–58706

21  The net abatement amount for a project area for a non-transferring project, APA
  For equation 1 for a non-transferring project, APA, for a project area PA for a reporting period RP is worked out, in tonnes CO2-e, using the following equation:
   equation 2

  where:
  is the change in soil organic carbon for the project area for the current reporting period RP from the baseline to the reporting period, in tonnes of soil organic carbon, worked out using equation 6.

       RC  is the total number of Australian carbon credit units:
 (a) issued, before the end of the reporting period, in relation to each CEA that was removed from the project area before that time; and
Note: The ability to remove CEAs from a project area is limited by subsection 9(4).
 (b) relinquished in relation to each CEA in the project area under sections 88, 90 or 91 of the Act before the end of the reporting period.
 is the aggregate of the permanence period discount number and the risk of reversal buffer number under section 16 of the Act associated with the Australian carbon credit units comprised in the definition of RC in this section.

       x is the number of reporting periods, up to and including the current reporting period.
is any net increase in emissions in the crediting period compared to the emissions in the baseline period, in tonnes CO2-e, determined for the reporting period in accordance with section 26.
 is:
 (a) if the net abatement amount, , for the project area for a previous reporting period , worked out using equation 2, is greater than zero—that amount;
 (b) otherwise—zero.
Note: For the first reporting period for the project, the summation at the end of equation 2, namely , is equal to 0.
Note 1: The value for  must be worked out separately for each issue or relinquishment of Australian carbon credit units comprised in the definition of RC in this section, and all such values must be aggregated to work out the value for  applied to equation 2.
Note 2: The aggregate of the permanence period discount number and the risk of reversal buffer number under section 16 of the Act for the purposes of working out the value for D under this section associated with the Australian carbon credit units comprised in the definition of RC in this section would be:
               -          if the project was a 100-year permanence period project at the time of the issue of the units—0.95;
               -          if the project was a 25-year permanence period project at the time of the issue of the units—0.75.
Note 3: The above equation calculates the total change in soil organic carbon for the current sampling round