About Land Restoration Fund
The Queensland Government’s $500 million Land Restoration Fund aims to expand carbon farming in the state by supporting land-sector projects that deliver clear environmental, social and economic co-benefits.
Carbon farming refers to land management activities that avoid the release of greenhouse gases or increase the carbon stored in the land. This can be achieved by planting trees, protecting native forest by reducing land clearing, managing bushfires through savanna burning and changing practices to increase soil carbon.
How will it work?
The Land Restoration Fund seeks to develop Queensland’s carbon farming future by supporting:
- Queensland-based carbon farming projects that deliver environmental, social and economic co-benefits
- research and development into emerging areas where Queensland has a comparative advantage to establish new carbon farming methods.
The Land Restoration Fund will contribute to the Queensland Government’s commitment to reduce carbon emissions by at least 30% on 2005 levels by 2030 and reach zero net emissions by 2050. It will also improve water quality in Great Barrier Reef catchments, a key commitment in the Reef 2050 Long-Term Sustainability Plan.
What are co-benefits?
Co-benefits are direct positive outcomes associated with carbon farming projects. These benefits are in addition to the carbon emissions avoided or stored.
The Land Restoration Fund supports projects that:
- sequester carbon in land and soil to reduce Queensland’s carbon emissions
- boost revenue sources for farmers and other landholders in regional and rural Queensland
- deliver social and community benefits especially for Traditional Owners
- improve Great Barrier Reef water quality
- enhance wetlands for fisheries and hatcheries improving commercial fishing opportunities
- strengthen critical habitat protection
- restore ecosystems and degraded land.
This presents a significant opportunity for Queensland to use its large land mass, the landscape’s ability to sequester carbon, and the skill and expertise of the state’s land managers to supply premium carbon credits with additional co-benefits for national and global markets.
Carbon farming in Queensland
There are more than 180 Queensland land-sector carbon farming projects—generating millions of dollars in revenue— supported under the Australian Government's Emissions Reduction Fund.
As the global economy shifts towards a cleaner future, emitters will be looking for new and secure supplies of credits to offset their carbon impact.
A 2017 report by Energetics (PDF, 1.9MB), estimated the carbon farming industry in Queensland could grow to around $8 billion by 2030, under certain conditions helping to generate new jobs, revenue streams and market opportunities especially for regional, rural, and Aboriginal communities.
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