Friday, February 25, 2011

No “Fart” Tax, No “Fert” Tax, Yes “Soil Carbon Credits” 2

The Government confirmed that emissions from agricultural sources won't be taxed under the carbon pricing mechanism announced yesterday because "it is not practical", meaning it's too hard to measure them. Ministers Combet and Ludwig are enthusiastic about soil carbon: "The proposal does recognise that farmers and landholders can still play a vital part in reducing our carbon pollution... The Carbon Farming Initiative will demonstrate how land sector abatement is real and can deliver significant benefits to regional and rural Australia. It will allow sectors not covered by the carbon price mechanism to generate carbon credits for actions which reduce or store carbon pollution. In particular, it will help farmers move beyond existing practices to unlock farming techniques with better carbon and productivity outcomes, helping adapt to the effects of climate change we cannot avoid."

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