What’s the difference between the ERF and LRF?
All carbon farming projects generate co-benefits. The LRF differs from the ERF because it values and then prices in those co-benefits to the price it will offer to land managers.
As a result, the LRF pays more for carbon farming projects than the ERF in areas of priority for Queensland. These areas of priority are determined by location and proposed outcomes.
How much is the government investing and how is it being rolled out?
The Land Restoration Fund is a $500 million investment by the Queensland Government.
In 2020, the Queensland Government is investing $100 million. The 2020 Investment Round opened on 28 January 2020 with two application intakes:
- Intake 1 has closed
- Intake 2 has been extended to close on 29 April 2020.
Will carbon farming negatively impact agricultural production?
Carbon farming projects involve a wide range of land management and agricultural activities depending on the carbon method being used.
Many carbon farming projects are specifically for agricultural activities such as plantation forestry, livestock management, or cotton production. Also, under certain vegetation methods, land managers can graze in a carbon project area.
For all Land Restoration Fund projects, active management of the land is needed to meet both the requirements of the carbon method and to generate the co-benefits.
How can carbon farming work without impacting the income from my other farming business?
Carbon farming projects can complement and supplement farming business income. For example, carbon farming projects may provide and additional income stream from land that may be marginal or non-viable for other farming purposes. As it is a business and commercial decision to undertake a carbon farming project, potential applicants are strongly encouraged to seek independent financial advice.