Thursday, April 19, 2018

Multi-billion-dollar potential for Western Australia's carbon farming industry

A new carbon farming pilot project across the Southern Rangelands could signal the start of a new multi-billion-dollar industry for Western Australian pastoralists.
Station owners believe further tenure reform is needed
before carbon farming will take hold in Western Australia.
This week the State Government gave approvals for WA pastoralists to participate in the Commonwealth's $2.55 billion Emissions Reduction Fund (ERF) and upcoming reverse auction.

Already established in states such as NSW and Queensland, under the scheme land owners are paid for practices that reduce carbon dioxide emissions, like conserving native vegetation on their land.

Landholders can then earn carbon credits for their practices, which they can sell on the carbon market to companies that want to offset their emission costs.

Agriculture Minister Alannah MacTiernan said she hoped the 12-month pilot program would be the first step towards creating an accessible carbon farming industry in WA.

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