Audio and video of Minister Littleproud here.
- Agriculture Biodiversity Stewardship Market Bill introduced to parliament on 9 February 2022.
- Bill establishes the framework for a national voluntary agriculture biodiversity stewardship market.
- Introduces a tradeable biodiversity certificate to reward farmers.
A bill to create the legal framework for a national voluntary agriculture biodiversity stewardship market has been introduced in Parliament.
Minister for Agriculture and Northern Australia David Littleproud said the Agriculture Biodiversity Stewardship Market Bill presented a new opportunity for Australian farmers to utilise their land management expertise to create new income streams.
"This Bill will allow farmers to use less productive agricultural land to improve biodiversity and provides a robust national legal framework to back it up," Minister Littleproud said.
"We're making sure there are clear definitions in place on what eligible projects are, through biodiversity protocols, which will enable farmers to be rewarded for their land stewardship.
"The Bill will create a biodiversity certificate, which will be tradeable. This will mean biodiversity outcomes can be purchased, transferred, claimed, or used.
"We'll establish a single public register for the market. This will enable tracking of certificates, provide evidence for claims made by buyers and, over time, provide information to inform the market.
"We'll have an independent expert advisory committee, who will be there to provide expert advice on biodiversity protocols.
"My Agriculture Biodiversity Stewardship Package is demonstrating that a market can deliver financial returns to farmers, by piloting projects that deliver biodiversity outcomes alongside carbon, and enhance remnant vegetation.
"We are building on the success of these pilots to deliver a long-term pathway to market for farmers - a market that is world-leading and informed by science.
"Australian farmers are amongst our most important caretakers of the land - they manage 58 per cent of Australia's landscape.
"This is a chance to reward our farmers for the work they do and continue to build Australia's reputation as a sustainable supplier of agricultural products to the world."
Fast Facts:
- The Agriculture Biodiversity Stewardship Market Bill will create a framework to support new income streams for farmers, improved biodiversity, and international recognition of Australia's biodiversity stewardship credentials.
- The Bill builds on the Agriculture Biodiversity Stewardship Package, which aims to improve on-farm land management practices and develop a market-based approach for rewarding farmers for the delivery of biodiversity services.
- The Clean Energy Regulator will administer the scheme.
