Document ID: chunk:federal_register_of_legislation:F2024L01473:clause:1_68
Version: federal_register_of_legislation:F2024L01473
Segment Type: clause
Provision Reference: sch 1 cl 68
Character Range: 70246–71786

68  Calculating the net abatement amount for a project
         (1) The net abatement amount for the reporting period for a reforestation project is equal to the sum of the amounts A calculated in accordance with subsection (2) for each project area.
         (2) For each reporting period, the net abatement amount for a project area of a reforestation project must be calculated using the following formula:

  Equation 16

       where:
  Project area net abatement for the reporting period (in tonnes CO2‑e).
  carbon stock for the project area (in tonnes CO2-e)—see Equation 8.
  total project emissions from biomass burning for the project area (in tonnes of CO2-e )—see Equation 13.
  total project fuel emissions for the project area (in tonnes CO2-e) —see Equation 15.
     (a)  for the first reporting period in which the project area has been reported on—the initial carbon stock for the project area (in tonnes CO2-e) (see subsections 63(2) and (3)); and

     (b) for a later reporting period—the carbon stock for the project area at the end of the previous reporting period (in tonnes CO2-e) (see the carbon stock value reported in the previous offsets report).

         (3)  In this section:

        previous offsets report means the most recent report for the project area submitted under this or another CFI methodology determination applicable for a reforestation project and for which a certificate of entitlement has been issued.

Part 5—Monitoring, record-keeping and reporting requirements

Division 1—Preliminary