A new Biodiversity Fund is to be established to support projects that deliver biodiversity and related environmental benefits under the Federal Government’s carbon price policy.

 

Over the period to 2014-15, $1 billion will be provided through the Biodiversity Fund and other land-based measures to landholders to establish new native vegetation and habitats in targeted areas of high conservation value and to maintain or enhance existing native vegetation for its carbon and biodiversity benefits.

 

The Government’s Carbon Farming Initiative (CFI) will provide economic rewards for farmers and landholders who take steps to reduce carbon pollution by creating credits for each tonne of carbon pollution which can be stored or reduced on the land.

 

Through the new Carbon Farming Futures program, funding will be provided to the land sector for research, measurement and to take action on the ground including support for new conservation tillage equipment. Farmers will be provided with the tools to understand how to generate carbon credits and benefit from carbon farming.

 

The CFI will increase the demand for service providers such as carbon brokers, auditors, natural resource management bodies and authorities, farm extension officers and advisors, and agronomists. The Carbon Farming Skills program will encouraging the training of people in regional Australia with the necessary skills to support implementation of the CFI by  setting up a training and accreditation system.

 

The Government will purchase carbon credits through the CFI non-Kyoto Carbon Fund. This program will create incentives to undertake land-based action such as the storing of soil carbon, revegetation and forest conservation.

 

Further information is at www.cleanenergyfuture.gov.au