In 2022, the department commissioned a consortium led by Deakin University, to develop an approach to measure and account for the benefits of restoring coastal blue carbon ecosystems, including mangroves, saltmarsh, seagrass and supra-tidal forest.
It is intended that the Guide will provide practical and cost-effective ways to measure a range of benefits and services provided by coastal blue carbon ecosystems.
The Guide will provide advice on the impacts of various restoration activities and explain how to report on those impacts using environmental accounting principles.
These include, carbon sequestration and emission reduction, biodiversity, water purification, coastal protection, fish production, Traditional Owner cultural values, and other services such as recreation, and community values.
There are several frameworks and standardised approaches available for recognising the contribution of natural ecosystems, including for climate, biodiversity and community benefits.
The Guide seeks to explore some of these approaches, including the application of environmental economic accounting, to inform better investment, policy and management decisions in restoring coastal ecosystems.
The final Guide is expected to be delivered by the end of the year.