The new $500 million Land Restoration Fund will open a new way for Queensland landholders to earn money from their land through carbon farming, said Chris Whiting MP.
Carbon farming is a range of land management practices that increase carbon stores in landscapes such as in trees and soil. For each accredited tonne of carbon dioxide locked up in vegetation or the soil, you earn an Australian Carbon Credit. Unit or ACCU which you can trade or sell.
“What a great way to support farmers and landowners in Queensland: if you are in the agricultural sector or know someone on the land, they need to know about this,” said Chris Whiting MP.
“Carbon farming means they can earn money through planting trees, regrowing native forests that support habitat for threatened species, managing bushfires through cool savannah burning and changing livestock practices.
“For each accredited tonne of carbon dioxide locked up in vegetation or the soil, you earn an Australian Carbon Credit. Unit or ACCU which you can trade or sell.
“The new $500 million Queensland Land Restoration Fund will support more land managers to undertake carbon farming projects and the first round of funding opens on January 28th.
“Carbon farming projects funded through the Land Restoration Fund will create new jobs and industry opportunities through practical action on the land.
“These projects will help communities survive, thrive and maintain their connections to the land.
“Carbon farming is similar to existing industries in Queensland’s regional communities, industries that involve managing the land, managing cattle, cropping, and forestry.
“It’s good for farmers because they can use their land management skills and work with other organisations on projects on their land to improve farm profitability as well as farm biodiversity, soil and water quality.
“With every Land Restoration Fund project, the Palaszczuk Government will include a support package to help farmers create their carbon farming project.
“The package includes up to $10,000 for technical advice, along with information workshops and webinars, a diagnostic tool to see how carbon farming might complement or expand a farm business model.
“The $500 million investment will be rolled out in funding rounds through expressions of interest.
“The funding priorities for each round will be set by the government, and landholders will have the opportunity to put forward projects that address those priorities,” said Chris Whiting.