Reef Credits
Reducing nutrients and sediments from entering the reef
Most people know climate change is the greatest threat to the Great Barrier Reef. However, the second greatest threat to its health is poor water quality caused by runoff from land. Reef Credits harnesses private funding to invest in the Great Barrier Reef by creating income for land managers to run and expand projects that reduce nitrogen (Dissolved Inorganic Nitrogen, or DIN) and fine sediment entering our waterways.
A credit scheme you can rely on
Reef Credits creates a tradable unit for cleaner water. This unit is independently audited, verifying the amount of nutrients, pesticides, or fine sediment prevented from entering the Great Barrier Reef catchment.
The scheme has already helped many corporate buyers, including Qantas, HSBC, Tourism Australia, and the Australian Museum, meet their corporate sustainability and environmental strategic objectives.
“With Reef Credits, investors have the confidence that what they are investing is scientifically measured and independently audited. In addition, our goal is to establish a robust and sustainable market mechanism that not only protects the Great Barrier Reef but also generates economic opportunities for stakeholders and local communities.”
Neil Hereford, Chief Investment Officer, GreenCollar
Working with farmers and graziers to improve water quality
A Reef Credit equals 1 kilogram of Dissolved Inorganic Nitrogen (DIN), or 538kg of fine sediment that has been prevented from entering the reef. In order to achieve this reduction, GreenCollar partners with farmers and graziers on developing projects that are suited to their properties, without compromising farm productivity. To date the scheme has sold 45,000 reef credits, which equates to 45 tonnes of nitrogen entering our Great Barrier Reef.
“While confidence in this new market is increasing, we require scalable action if we are to reach the United Nations internationally recognised water quality targets. And this will require an investment of at least $2 billion.”
Bart Dryden, Head of Water – GreenCollar
*Disclaimer: This case study showcases an innovative approach in Cairns’ Smart Green Economy. While this project is not owned by Cairns Regional Council, and the presentation of this case study does not imply Council endorsement, it is our aim to highlight some of the exciting initiatives in our region and inspire positive change within our community.