Elements and Performance Criteria
- Identify the rights of the project proponent and the stakeholder
- The right of the project proponent to undertake the project on the proposed land is determined
- The rights to the land, project boundaries and if appropriate the applicable carbon sequestration right are determined, with legal advice sought where required
- All interest holders in the land are identified and their likely agreement to the project determined
- The ownership of carbon sequestration rights, if relevant, is determined
- Identify the project and its eligibility
- The nature and scope of the project is confirmed
- Approved CFI methodologies are assessed to determine if one is applicable to the project
- Any negative impacts of the project are determined and checked against the CFI negative list
- Whether the project, or any part of it, is required by law is determined
- How the project is in accordance with relevant regional Natural Resource Management plans is determined
- The project is checked for compliance with an approved offset methodology
- Identify the contractual arrangements for the project
- Contract parties are identified
- The responsibilities of owning and managing a CFI project are identified
- The managerial and governance structure of the project is determined and roles of the parties are clarified
- Responsibilities and obligations of the parties under relevant carbon farming legislation are identified
- Financial relationships between the parties are identified, including for transfer of carbon rights if relevant
- Analyse the project
- Specialist technical advice is sought as required
- Operational capabilities to successfully implement the project are assessed
- Means of calculating the baseline and project emissions in accordance with the relevant methodology are established
- Frequency of data collection, monitoring, ratification and verification requirements are determined
- The impact of differing crediting and reporting periods on project feasibility is assessed
- Approvals and restrictions associated with project implementation are determined
- Timelines for the application, development, approval and implementation of the project are estimated
- Potential risks in the project cycle and mitigation strategies are identified and responsibility assigned between parties involved in the project
- Analysis of stakeholders and their expectations is undertaken.
- The scope for project design, planning and implementation is defined
- Evaluate project viability
- The distinction between administrative advice on CFI projects and advice about carbon credits that requires holding a financial services license is stated
- The impact of project location on the type of carbon credits generated, where relevant, is ascertained
- Funding requirements for the application, development and implementation of the project are calculated
- The potential abatement and short and long term returns are identified
- Capacity to complete project activities within timeframes is assessed
- Issues that impact on project business viability, including methods of valuing carbon credits, are assessed
- A business viability case for the project identifying the source and cost of project capital, long term project costs and revenue and non-carbon economic benefits of the project is developed
- Project feasibility is determined and advised in a written report to project proponent