The Federal Government has welcomed the passage of the Carbon Credits (Carbon Farming Initiative) Bill 2011 through the House of Representatives today, saying  farmers, Indigenous Australia and the environment stand to gain the most out of the bill's passage.

 

The Carbon Farming Initiative is described as a 'key part' of the Federal Government’s climate change agenda. Under the Initiative, the Government will aim help facilitate the sale of carbon credits on domestic and international markets, with an aim to open  new income streams for farmers and landholders across regional Australia.

 

The Minister for Climate Change and Energy Efficiency, Greg Combet, said the Bill passed the House of Representatives  with support from the crossbenches, despite  the Opposition to opposing the legislation.

 

“This is an important step towards delivering a carbon offset scheme in Australia. We will now work to secure this Bill’s passage through the Senate so that farmers and landholders can start reaping financial rewards from acting to tackle climate change,” Mr Combet said.

 

“We’ve consulted widely on developing this Initiative, with farmers, with Indigenous groups, with business and industry, and today’s vote is recognition of that work and the significant benefits this Initiative will bring to our economy and to our environment”.

 

The Government will now work to secure the passage of the Carbon Credits (Carbon Farming Initiative) Bill 2011 through the Senate to enable the Carbon Farming Initiative to commence later this year.