Investment Round 2

Queensland landholders interested in developing a new carbon farming project or entering the carbon farming industry are invited to apply following a streamlined two-stage application process.

The Land Restoration Fund (LRF) contracts carbon farming projects that deliver Australian Carbon Credit Units (ACCUs) and additional environmental, socio-economic and First Nations outcomes, known as co-benefits.

For Investment Round 2, the LRF is investing $25 million in carbon farming projects, with up to $5 million funding available per project.

The focus for this round is projects located in Great Barrier Reef catchments, and projects that restore or retain vegetation, including as a component of regenerative agricultural practices.

How to apply

To submit an application to the LRF, follow these four steps:

STEP 1: Check you are eligible

For a project to be eligible under the LRF, it must:

  1. be eligible to register with the Clean Energy Regulator under the Emissions Reduction Fund (ERF). Check your eligibility to register under the ERF using the ERF Interactive Questionnaire.
  2. meet the eligibility criteria set out in the LRF Investment Application Guidelines (PDF, 843 KB) .

STEP 2: Explore your options

Information is available to help you explore your options before submitting an application to the LRF.


The LRF has partnered with NRM Regions Queensland and Queensland Farmers Federation to run four face-to-face workshops and one webinar in August 2021.

At the workshops, specialists from government, industry and the carbon farming sector will explain the application process and answer questions to help landholders understand eligibility and other requirements for Investment Round 2. See the workshops page for more information.

Rebate for carbon farming advice

Rebates are available to help cover the costs of carbon farming advice received from an LRF Approved Adviser.

The purpose of the rebate is to help landholders to assess whether carbon farming is suitable for their land and business.

Find out how you can apply for a rebate on the Rebate and Support page.

Tools and resources

Find tools and resources to help you identify your carbon and co-benefit opportunities on the Rebate and Support page.

Agents and partners

You can apply to participate in the LRF as an individual landholder, with other landholders or through an agent, such as a carbon service provider. For aggregated projects or projects delivered in partnership, the LRF will only contract with a single party.

Talk with other landholders and discuss with different agents how you can best structure and deliver your project. Make sure you understand what is involved, including the costs, risks and obligations.

STEP 3: Prepare your application

Land Restoration Investment Round 2 application video

Find out how you can prepare your application for the Land Restoration Fund Investment Round 2.

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The Land Restoration Fund is helping Queenslanders turn carbon into income - by paying for the clear positive impacts that carbon farming projects can have on our environment, communities and economy.

As a landholder, this means that you’ll earn more for Land Restoration Fund projects than through existing schemes, generating income streams from both the carbon credits your project creates AND from your project’s recorded ‘co-benefits’ in three priority areas -

  • Improving the health of wetland and coastal ecosystems,
  • supporting biodiversity and habitat for threatened species,
  • and supporting social and economic sustainability including for First Nations peoples.

Part of the income from your carbon project is paid annually from the first year, ensuring that money flows across the life of your contract - not just when you deliver carbon credits.

There’s also a generous support package available, including up-front capital payments for successful projects and access to professionals who can provide technical advice to help you assess potential carbon farming projects, with rebates available for carbon farming advice up to $10,000.

To make sure you get the help you need to get your project off the ground, you can apply for the rebate through QRIDA.

To identify your carbon abatement and co-benefit opportunities, the CSIRO’s LooC-C tool can give you guidance on:

  • the types of projects suited to your area,
  • the volume of carbon credits you could generate, and
  • the environmental co-benefits you could claim.

The Land Restoration Fund’s second investment round has a streamlined two-stage application process:

Stage 1 will focus on:

  • Project activities and co-benefit outcomes
  • Your requested investment from the Land Restoration Fund, and
  • The number of Australian Carbon Credit Units you will contract to the Land Restoration Fund.

Applications will be assessed, and shortlisted projects will progress to a final application stage.

In this stage, shortlisted projects will need to provide more detailed information to help the Land Restoration Fund assess project risk and understand how the project will be implemented.

Your application will need to demonstrate that your proposed project meets eligibility requirements and will deliver both carbon credits and co-benefits from at least one of the Priority Areas.

For co-benefits, the Land Restoration Fund ‘Priority Investment Plan’ and ‘Co-benefit Standard’ outline a number of resources to help you discover opportunities for your project to deliver measurable benefits beyond carbon.

Once you have developed your project plan, you can submit your application online.

An independent panel will shortlist projects for consideration through Stage 2 before selecting a final portfolio of projects that deliver on the Priority Investment Plan.

Applications for the Land Restoration Fund second investment round are now open.

Don’t miss this opportunity to turn carbon into income though the Land Restoration Fund.

To prepare your carbon farming application:

  1. Check your eligibility through the Emissions Reduction Fund and the LRF Investment Application Guidelines (PDF, 843 KB)
  2. Estimate the Australian Carbon Credit Units (ACCUs) and potential co-benefits on your property using the LOOC-C tool
  3. Identify your co-benefits using the LRF Co-Benefits Standard (PDF, 847 KB)

Familiarise yourself with these documents – you’ll need to refer to them to complete your application:

The Queensland Government has consulted with a range of stakeholders, including carbon farming industry experts, to ensure we have a robust, equitable and effective application process.

As a result of this feedback, a streamlined two-stage process has been developed for Investment Round 2:

  • Stage 1: Initial Application – This stage will focus on the project activities and outcomes, along with details of the requested investment from the LRF and number of ACCUs to be contracted to the LRF.

    Under Stage 1, you will need to provide:
    • applicant details
    • project details (carbon farming method, location)
    • commercial proposition (ACCU estimates and amount of investment)
    • co-benefits proposal (co-benefit classes, activities and outcomes)
    • declarations of eligibility, due diligence, and deed poll of confidentiality and privacy.
  • Stage 2: Final Application – Shortlisted projects will be provided a Stage 2 form to submit further information to better assess any risks associated with the project and explain how the project will be implemented. During this process, projects may not be materially changed, but value for money may be improved, for instance, by proposing a lower price, or by providing additional co-benefit outcomes at the same price.

    Under Stage 2, you will need to provide:
    • finalised commercial proposition, including ACCU schedule
    • risk identification and management
    • project roles and employment arrangements
    • details on employment and economic impact (jobs, annual project costs)
    • information to demonstrate applicant experience and partnerships (CV and referee details)
    • improved co-benefits proposal (if needed)
    • responses to any questions requested by the Investment Panel from Stage 1 assessment and shortlisting process.

For more information about details required under Stage 1 and 2 read the LRF Investment Application Guidelines (PDF, 843 KB) .

STEP 4: Submit your application

You will need to apply online via SmartyGrants. You will find detailed instructions about how to apply in the online application form, including a list of required documentation. You can save and close your draft application and return to it later. When you submit your application, you will receive a confirmation email with a copy of your application attached.

If you have questions about the application process, please check this website first. If you can’t find the answer, email the LRF at

What happens next?

After you have submitted your application, an independent Investment Panel will shortlist projects for consideration through Stage 2 before selecting a final portfolio of projects that deliver on the Priority Investment Plan (PDF, 1.7 MB) .

Shortlisting – Applications will be assessed for merit and value, and the Investment Panel will make decisions to shortlist projects for further consideration.

Stage 2 Request for Further Information – Shortlisted projects will be requested to provide further information as stated above.

Final Investment Decisions – Further assessment of projects will occur and the Investment Panel will decide which projects they will make investment offers to.

Acceptance of offers – Offers will be conveyed to successful applicants in the form of a Project Investment Agreement (PDF, 767 KB) . Executed agreements will be subject to several ‘conditions precedent’, including the unconditional registration of the project as a carbon farming project with the Clean Energy Regulator.

If you are unsuccessful, the LRF will provide you with feedback about your application. Unsuccessful applicants cannot re-submit in this round but may re-apply for future rounds.