26Simplified outline of this Division

26   Simplified outline of this Division

This Division is relevant to a savanna sequestration project if it contains a project area that was previously part of either a project covered by a savanna fire management determination or another project covered by this instrument. Such a project area is a transferring project area.

There are several ways of moving a transferring project area from its original project to another project that is covered by this instrument.

Moving project areas between savanna sequestration projects

A project area may be moved from one savanna sequestration project to another savanna sequestration project in accordance with the requirements for voluntary variation of section 27 declarations in the CFI Rules. The project’s crediting period would be adjusted in accordance with this determination and the requirements in the CFI Rules relating to restructured eligible offsets projects.

Moving project areas from emissions avoidance project to sequestration project

If the original project is an emissions avoidance project covered by a savanna fire management determination, there are several options.

● One option is to apply to move all of the original project’s project areas onto a project covered by this instrument, in accordance with the CFI Rules (see the sections dealing with linked applications in respect of savanna emissions avoidance projects and savanna sequestration projects). This option would involve seeking revocation of the original project’s section 27 declaration.

● Another option is to apply to move only some of the original project’s project areas onto a project covered by this instrument, in accordance with the CFI Rules (see the sections dealing with linked applications in respect of savanna emissions avoidance projects and savanna sequestration projects). This option would involve seeking a variation of the original project’s section 27 declaration to subdivide the project into two subdivided project areas, one covering all area of the project that is to remain, and one covering all area of the project that is to be moved. An application could then be made to add the entire subdivided project area to the sequestration project (and seeking to remove that entire subdivided project area from the original project) in accordance with the CFI Rules.

In either case, a new savanna sequestration project would need to be declared as an eligible offsets project. The new project would have a new crediting period and would be a restarting transferring project.

Projects that contain transferring project areas

Some provisions of this instrument apply special rules to projects that contain transferring project areas. These provisions are principally set out in this Division.