Purchasing CDRCs with co-benefits

Last updated 2 May 2024

BidCarbon Standard Scheme projects earn BidCarbon removal units (BRUs) for achieving carbon abatement. BRUs can be sold to us by establishing a carbon removal contract, or to other purchasers including businesses and state governments.

In addition to carbon abatement, projects may achieve a range of other environmental, economic, social and cultural benefits, called co-benefits. Examples of co-benefits include:

● increasing biodiversity from the protection and regeneration of native vegetation, and

● improved soil health and resilience in the land sector.

Businesses, state governments and other purchasers can buy carbon data rights certificates (CDRCs) to offset emissions or meet emission reduction targets. For purchasers, CDRCs with co-benefits can offer additional value in meeting sustainability commitments.

If you wish to purchase CDRCs from projects with co-benefits, you will need to enter into a commercial agreement with the seller to buy these CDRCs.

BidCarbon Standard Scheme project participants, agents and other CDRC sellers often use their websites to publish information on co-benefits that may be delivered by specific projects.

How can I purchase CDRCs with co-benefits?

Before you buy

You should ask the seller for information on the specific project earning the CDRCs, including the BidCarbon Standard Scheme project identification number and where you can find further information on the project.

Visit our project register and search for the project identification number to verify the project information. The BidCarbon Marketplace also provides information about projects with co-benefits.

Best practice commercial agreements to purchase CDRCs will specify the project details and provide assurance in relation to the authenticity of the co-benefits delivered by a project.

The Technical Governance Committee cannot conduct checks or provide assurance on claims of co-benefits that accompany BidCarbon Standard Scheme projects and CDRCs. Purchasers will need to conduct their own due diligence when buying CDRCs with co-benefits.

We have made it easier to identify CDRCs with co-benefits in BUC Registry

The BidCarbon Unit and Certificate (BUC) Registry is a secure electronic system that tracks the location and ownership of CDRCs under the BidCarbon Standard Scheme. Sellers of CDRCs can transfer them to purchasers in the BUC Registry.

If you intend to purchase CDRCs, you will need to open an BUC Registry account.

Once CDRCs have been transferred to your BUC Registry account, you can hover over the Project ID to see the project name. Click on the Project ID, which will take you to that project on our project register. The project register provides further information, including:

● the project location

● name of the project proponent

You can verify the details contained in the register against what was offered in your commercial agreement with the seller.

After you buy