Project number:
2023-190
Project Status:
Completed
Budget expenditure:
$120,000.00
Principal Investigator:
Robert A. Bell
Organisation:
Blueshift Consulting
Project start/end date:
19 Jun 2024
-
30 Dec 2024
Contact:
FRDC
TAGS
The project will provide a comprehensive and contemporary synthesis of relevant information on C, N& P uptake and B creation potential and existing and potential schemes which could be implemented to provide environmental benefits and commercial opportunities for the nascent industry to develop. It will involve: delivering a detailed review of existing research, theories and proposed policies for C, N&P and B schemes; producing a set of recommendations for regulators regarding scheme(s) implementation and operation; and identify potential environmental, social and economic benefits from successful schemes.
1. Undertake a detailed literature review and summary of relevant published and grey literature, industry information and anecdotes on: science of C,N&P and B benefits of seaweed mariculture
credit/trading schemes for C,N&P and B structure and operation, implementation requirements.
2. Develop a recommended policy position for ASSA which can be used by ASSA to advocate and make clear recommendations to government on the potential for the Australian seaweed industry to benefit from the establishment of aligned credit schemes, as well as the potential accreditation of products.
3. Provide outlines of potential credit scheme(s) and implementation, including high-level SWOT analysis and cost-benefit indications.
4. Provide the above objectives and outcomes to ASSA/FRDC which can then be readily developed into regulator and other stakeholder communications outputs and tools (e.g. online formats).
Final report
Author:
Rob Bell and Olivia Smailes
Final Report
•
2024-12-05
•
8.04 MB
2023-190-DLD.pdf
Over the past 30 years, global markets for trading environmental commodities have emerged as a way to harness market mechanisms to address the wide-ranging ecological, social, and economic impacts of three centuries of industrialisation. Originating in airshed, watershed and water body pollution trading, environmental markets have rapidly evolved over the last decade, primarily in response to carbon abatement, but also increasingly in water quality, and most recently in the development of biodiversity credits for ecological restoration. The operation of markets enables the exchange of commodities (often derived from a range of sources) on a single platform, increasing their utility, but also importantly, providing for their financial valuation and exchange pricing. The global seaweed cultivation industry – also centuries old and focussed mainly on food production – is now developing through increased opportunities to diversify the range of products and outcomes which can be derived from seaweed and seaweed production systems. Seaweed production represents a tremendous opportunity to leverage these systems and products’ unique ecological benefits and to derive carbon, nutrient and biodiversity credits to supply the growing demand in these new markets. Well structured, regulated and functioning
environmental markets accessible to the Australian seaweed industry, can provide powerful tools to help deliver positive commercial and environmental outcomes for farmers and traders, but also consumers, communities and governments. This project comprises a comprehensive literature review, a market analysis and industry consultation components, which explore the intersection between seaweed farming and environmental markets. It evaluates the diverse benefits seaweed offers within marine ecosystems and how these may be translated into environmental credit opportunities. The project has been used to develop a set of actionable policy recommendations for the Australian Sustainable Seaweed Association (ASSA), which if adopted could foster industry growth and position Australia’s
seaweed sector as a leader in the emerging landscape of environmental credits and commodities trading.
environmental markets accessible to the Australian seaweed industry, can provide powerful tools to help deliver positive commercial and environmental outcomes for farmers and traders, but also consumers, communities and governments. This project comprises a comprehensive literature review, a market analysis and industry consultation components, which explore the intersection between seaweed farming and environmental markets. It evaluates the diverse benefits seaweed offers within marine ecosystems and how these may be translated into environmental credit opportunities. The project has been used to develop a set of actionable policy recommendations for the Australian Sustainable Seaweed Association (ASSA), which if adopted could foster industry growth and position Australia’s
seaweed sector as a leader in the emerging landscape of environmental credits and commodities trading.
