Reducing information barriers around carbon mitigation potential for landowners
Despite expectations that the land sector will contribute a large proportion of Australia’s reduction in greenhouse gas emissions (2030 goal 26-28% below 2005 levels), starting a carbon farming project can be time consuming and costly, and a difficult process to navigate.
LOOC-C was designed to address a critical information barrier to help users understand potential carbon farming options and take the first step.
LOOC-C digital tool
Surveyed farmers and landowners indicated they wanted to understand the impact carbon farming would have on their business and if it would be worth their time and effort. In response, LOOC-C was developed to provide an initial estimate of mitigation potential in as little as 5 minutes.
Importantly, LOOC-C empowers landowners with information regarding their specific block of land when seeking assistance to potentially enter carbon markets. It is also used by state and federal government agencies, establishing a common basis of understanding that results in improved market efficiencies.
LOOC-C also provides information on farm co-benefits such as farm profitability and farm resilience that are generated if the project is progressed.
LOOC-C is currently in use. An increase in usage nationally since mid-2020 suggests the tool is gaining traction.
A recent independent evaluation projected that LOOC-C will catalyse an additional 11 to 36 Mt CO2-eq of emissions reductions between 2021 and 2030, beyond what could occur in the absence of the tool. The net present value of this additional mitigation was valued at AUD $200 to $644 million using the current price of carbon. It estimated that for every $1 invested in LOOC-C, at least $50 in social benefits are expected to accrue.