3The previous year’s carry‑over amount, OSeq,Prev

3   The previous year’s carry‑over amount, OSeq,Prev

Note 1:  In some years, the contribution to the net abatement amount from sequestration in living biomass or dead organic matter, ASeq, might be a negative number, for example, if there has been a reversal of sequestration in the relevant year. Such negative amounts do not detract from the adjusted contribution to the net abatement amount, ASeq,adj, nor from the net abatement amount A. However, they are carried over into the following year’s calculations as the previous year’s carry‑over amount, OSeq,Prev, and detract from any positive sequestration that might occur in future years. The previous year’s carry‑over amount will either be zero or a negative number.

1.     For the purposes of paragraph 2(a), and subject to clause 10 (which deals with subdivided project areas), the previous year’s carry‑over amount for the project area, OSeq,Prev, in tonnes CO2‑e, is:
2.     if, for the previous calendar year, the current year’s carry‑over amount (Seq,Curr) was calculated for the project area in accordance with this instrument—equal to the amount so calculated; and
3.     in any other case—equal to zero.
4.     For the purposes of paragraph (1)(a), if the project was reported on for that year, the relevant value is the value for the carry-over amount (whether or not this is denoted as OSeq,Curr) reported in the offsets report.

Note 2:  For the purposes of subclause (1), the previous year’s carry-over amount might have been calculated as the current year’s carry-over amount ∆CSeqCurr as defined in the Carbon Credits (Carbon Farming Initiative—Savanna Fire Management—Sequestration and Emissions Avoidance) Methodology Determination 2018.

Note 3:  Paragraph (1)(a) is modified in some cases if the requirement in lieu of the newness requirement set out in paragraph 24(2)(c) of this instrument was met. See subparagraph 24(3)(c)(ii) of this instrument.