The PM's Press Release About Carbon Farming

Campaign Media Release


PRIME MINISTER
MINISTER FOR CLIMATE CHANGE, ENERGY EFFICIENCY AND WATER
MINISTER FOR AGRICULTURE, FISHERIES AND FORESTRY


CARBON FARMING INITIATIVE

Farmers who help reduce and store pollution will receive credits that can be sold in Australia and overseas under a new Carbon Farming Initiativeto be set up by the Gillard Labor Government.

The initiative will provide new opportunities for Australian farmers and landholders to participate in lucrative international markets for carbon credits.

For the first time, the Federal Government will help facilitate the sale ofcarbon credits on domestic and international markets to ensure Australian farmers and landholders can take advantage of the opportunities available.

Tapping into these existing markets will give farmers and landholders the ability to find the best price available on the market for their carbon credits.

This initiative is fiscally responsible as the market will choose the most efficient and cost effective ways to reduce pollution and pay for it, rather than the Government picking winners and forcing taxpayers to bear the cost.

Farmers and landholders will benefit from a new income stream, and the environment will benefit from reduced pollution.

There will be no restriction on the number of credits that can be generated, with initial conservative estimates suggesting it could be worth about $500 million over ten years.

At present, there is no uniform way for farmers, forest growers or landholders to generate carbon credits and sell them into lucrative international markets.

Under the Carbon Farming Initiative, a Gillard Labor Government would legislate clear rules for the recognition of carbon credits that could then be sold on domestic or international markets.
This means farmers will know in advance exactly what they need to do to generate credits that are internationally recognised and available for trading.

A re-elected Gillard Labor Government will provide farmers, landholders and forestry growers with the tools to understand how to generate carbon credits.

As part of this, Landcare, the trusted volunteer organisation which has been working with Australian farmers for the past 21 years, will be funded to provide information on how farmers can further benefit under the initiative.

The initiative will also help link farmers, land managers and forestry operators with brokers, who could sell their credits on the domestic or international market.

This will allow farmers to keep doing what they do best, while also connecting them with those who have the monitoring and carbon retail know-how.

The Gillard Labor Government has already started work on setting outclear definitions about how credits can be created. These methodologies are expected to be rolled out from mid 2011.

Eligible methodologies that are expected to be settled in the early years of the scheme include reforestation, as well as projects that avoid or reduce emissions from:

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Livestock.
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Fertiliser use and manure management.
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Savannah burning.
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Legacy waste in landfills.
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Deforestation.

As part of this initiative, the Gillard Labor Government will work at home and abroad to support further research on soil carbon and biochar. This will build on the $20 million Climate Change Research Program.

The $45.6 million cost of the Carbon Farming Initiative is already included in the Budget, through the Renewable Energy Future Fund.

NSW
14 AUGUST 2010

COMMUNICATIONS UNIT: Phone: (02) 9384 2220 | Fax: (02) 9264 2213
www.alp.org.au

AUTHORISED N.MARTIN for the ALP, 5/9 Sydney Ave. Barton ACT.


Louisa Kiely
Director, Carbon Farmers of Aust.
louisa@carboncoalition.com.au
PH. 02 6374 0329