29Calculating the net abatement amount for a reporting period for a project area

29  Calculating the net abatement amount for a reporting period for a project area

 (1) The net abatement amount, in tonnes CO2-e, for a reporting period for a project area for the project, Ar, is:

 (a) if Ar for the reporting period for the project area, as worked out using equation 2, is zero or greater than zero—equal to Ar; and

 (b) if Ar for the reporting period for the project area, as worked out using equation 2, is less than zero—equal to zero.

 (2) For subsection (1), Ar for a reporting period r for a project area for the project, in tonnes CO2‑e, is worked out using the following equation:

• equation 2

where:

Cr is the carbon stock change, in tonnes CO2-e, for the project area for the reporting period, worked out using equation 3.

BSeq is the sequestration buffer for the project, ascertained in accordance with subsection (4).

Ar–1 is the carryover net abatement amount for the project area for the reporting period, in tonnes CO2‑e, worked out in accordance with subsection (3).

Er is the total emissions of greenhouse gases avoided, in tonnes CO2‑e, for the project area for the reporting period, worked out using equation 6.

Efk,r is the total fuel emissions for the project area for the reporting period, worked out using equation 13.

RC  is the total number of Australian carbon credit units:

 (a) issued, before the end of the reporting period, in relation to each CEA that was removed from the project area before that time; and

 (b) relinquished in relation to each CEA in the project area under sections 88, 90 or 91 of the Act during the reporting period.

 (3) For subsection (2), the carryover net abatement amount for a project area for a reporting period r, Ar–1, is worked out as follows:

 (a) if, for the project:

 (i) a reporting period r–1 immediately preceded the reporting period; and

 (ii) the value of Ar worked out for the purposes of determining the net abatement amount for that preceding reporting period for the project area was a negative number;

  then Ar–1 is equal to that negative number;

 (b) otherwise—A r–1 is equal to zero.

 (4) For subsection (2), the sequestration buffer for the project, BSeq, is:

 (a) if the project is a 25-year permanence period project—0.25; or

 (b) if the project is a 100-year permanence period project:

 (i) if the area of land within all the project areas for the project includes 80-100 per cent by area of all land identified as impacted land for the project in each current permanence period tidal inundation map for the project made under section 15—0.05;