What are co-benefits?

Co-benefits are the direct positive environmental, social or economic outcomes associated with carbon farming projects. Payment for co-benefits in Queensland is one of the unique aspects of the Land Restoration Fund (the Fund).

Examples of co-benefits include:

  • Better water quality flowing into the Great Barrier Reef, further supporting the Reef’s resilience and health. These co-benefits might be delivered by improving the health or ecological condition of wetlands and coastal ecosystems.
  • Enhancing habitat re-growth for threatened species, both flora and fauna. These co-benefits might be delivered by increasing diverse native forest cover.
  • New income streams and more jobs for Queenslanders, allowing them to stay in rural communities. These co-benefits may foster resilience in rural, regional and remote communities such as supporting connection to Country for First Nations peoples.

How are co-benefits measured?

The Fund has established its own robust standard that explains the design, monitoring and reporting criteria for co-benefits. The Co-benefits Standard (PDF, 429 KB ) is the reference document that the Fund will use to verify and certify co-benefits under three categories:

  1. Environmental – improving biodiversity, habitat for threatened species, soils, wetlands, and water systems.
  2. Social and Economic – improving the resilience and strength of regional communities by providing direct and indirect jobs, and more investment into Queensland regions.
  3. First Nations – providing on-country business opportunities as well as new service delivery businesses and supporting cultural connections.

Projects may deliver co-benefits from one, two, or all of the above categories. If you are applying for funding, you will need to show how your project aligns with the Co-benefits Standard, including a detailed description of the co-benefit(s) and how you will monitor, measure, verify and report them.

Tools to identify co-benefits