The Palaszczuk Government has today released the first round of funding under its flagship $500 million Land Restoration Fund.
Deputy Premier Jackie Trad said the opening of the $5 million pilot funding round would directly support carbon farming projects in Queensland, growing a new industry and creating jobs.
“Our Land Restoration Fund is an important part of our flagship land-clearing reforms, passed earlier this year,” Ms Trad said.
“Growing Queensland’s emerging carbon market will deliver important environmental, economic and social benefits and support our farmers in their transition to a low-emissions economy.
“Simply – carbon farming is about farming in a way that reduces emissions or traps carbon in the soil. We know that many farmers are already making big changes in this direction and we want to support them to do this.
“It will also provide a significant economic boost withanalysis undertaken in 2017 by energy consultants, Energetics, showing that the industry has the potential to generate up to $8 billion in revenue by 2030.
“This is about preserving our environment and our Reef for future generations. It sits alongside our target of 50% renewable energy by 2030, an interim emissions reduction target of at least 30% reduction to 2005 levels by 2030 and zero net emissions by 2050.”
Minister for Environment and the Great Barrier Reef Leeanne Enoch said the Palaszczuk Government was seeking applications for projects that will raise awareness of carbon farming in regional Queensland.
“We want to see on-ground projects like preventing soil erosion and run off, enhancing water quality and protecting the Great Barrier Reef, or supporting Traditional Owner land management techniques to reduce fire risk.
“We are committed to taking strong action on climate change and transitioning to a zero net emission economy by 2050.”
Minister Enoch said the government’s Land Restoration Fund was a practical investment in land-based carbon farming through activities such as regrowing native vegetation, savanna burning or improving agricultural management practices.
“This is an industry that can deliver new jobs and revenue – particularly for First Nations communities and rural and regional communities,” she said.
“It can also open up new markets nationally and potentially internationally while creating important environmental outcomes for the state.”
Pilot project applications can be lodged from 29 October 2018.