Japan's Nippon Paper Industries, through its wholly owned subsidiary Nippon Paper Resources Australia (NPR), has launched a carbon credit generation project in Australia's Green Triangle region of western Victoria, the company said on 15 July.
NPR received approval from Australia's Clean Energy Regulator (CER) in 2026 to register the carbon project that will generate Australian Carbon Credit Units (ACCUs) from new radiata pine plantations established on land previously used for hardwood forestry. Credit issuance is expected to begin from 2027 under Australia's federal carbon credit scheme.
NPR said it will gradually convert existing hardwood plantations to softwood from 2026, with the first phase covering around 1,500 hectares by 2028.
The company also plans to use experience gained during the first phase of development to assess a larger second phase that could expand plantation and carbon project areas to around 10,000 hectares.
ACCU spot prices were broadly flat compared with the start of the week, assessed at A$37.95/t of CO2 equivalent (CO2e) ($27/t CO2e) on 15 July, after briefly rising to a weekly high of A$38.05/t CO2e on 14 July.
