QUESTIONS OVER MAJOR INTERNATIONAL CARBON PROJECTS HIGHLIGHT NEED TO SUPPORT AUSTRALIAN PROJECTS

Australian-owned and funded carbon developer, Permagen Limited (Permagen), says Australian
companies need to scrap support of unverifiable international carbon credits and support the growth of
Australia’s emerging carbon credit market following the Four Corners episode featuring credibility issues
in international markets.


Permagen spokesperson Simon Kidston, Executive Chairman commented:
“In simple terms, emitters may be seeking to either “do good” or box tick ‘Net Zero’. However, by buying
the cheapest carbon credits, they may unintentionally be paying someone to do nothing. As we have seen,
emitters are at increasing risk of being called out for or in some cases prosecuted for greenwashing.”
“We feel community expectation is moving towards actual abatement and projects with high standards of
environmental and social integrity”.


Permagen’s focus is to deliver premium carbon credits through planting native trees on unused or lowvalue farming land in Australia.


“Planting trees stores carbon, and the compliance standards are only getting better. Logically this is a longterm solution for Australia’s Net Zero needs,” Mr Kidston said.
“Our challenge however is twofold. First, the market is still flooded by low-cost offset projects such as
avoided deforestation. Second, it is expensive to plant trees and the carbon price has been too low to
incentivise this at scale.”


“We’re very pleased with developments post the Chubb review including the grandfathering of lower
integrity methods. The strengthening of ACCU pricing this year is a vote of confidence in the system”.


Specifically commenting on the revelations on Carbon Colonialisation in Papa New Guinea by Four
Corners last night, Mr Kidston said:


“This is an example of an offset project (distinct from abatement) in a jurisdiction with weaker governance
than Australia. Forests are registered with an international certifier and large volumes of credits are issued
for not cutting down trees. The method of avoided deforestation does not abate any additional carbon.
Further, it may be difficult to ascertain if benefits are appropriately shared with communities. We would
consider these carbon credits low integrity and therefore low value.”

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For any media inquiries, please contact Paul Cheal on 0427 755 296 or paul@3cpr.com.au


For any landowner inquiries, please contact Harrison Holihan at hh@permagen.com.au


About Permagen: Permagen is an Australian carbon developer. Permagen specialises in developing
plantings projects which sequester carbon on farmland, resulting in improved overall farm resilience,
productivity, and increased biodiversity. Permagen partners with landowners providing them with a stream
of long-term stable cashflows. The team behind Permagen has significant experience in the ESG and
green sector.