Provision of strategic advice to Oysters Australia - identifying opportunities and associated value for the Australian Oyster Industry in Carbon Neutral Accreditation and Environmental Accounts

This project aims to develop strategic advice for the oyster industry on opportunities that exist in the carbon neutral and environmental accounting space. It will summarise the value to the industry, outline current options and accreditation pathways, and identify and discuss limitations to progress. The Fisheries Research and Development Corporation (FRDC) has been investing in blue carbon research since 2011. Mangroves, saltmarshes, macroalgae (such as kelps) and seagrasses are highly efficient at capturing carbon in the atmosphere and converting it, via photosynthesis, into organic matter, which is then stored in sediment. These ecosystems also trap and store carbon from land run-off and from the tides, and sequester carbon in the ground at rates 10 times faster than most of their green carbon counterparts such as trees. The Australian Government announced in early 2022 that it has established an agreed blue carbon accounting method under the Emissions Reduction Fund. This will allow Australian blue carbon credits to be awarded for the first time. As opportunities to earn blue carbon credits drive investment in marine habitat protection and restoration, it will improve fisheries ecosystems and increase their productivity.