The Hon. Greg Hunt MP
Minister for the Environment
Australian farmers to benefit from direct action on their land
12 November 2013
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The Government welcomes a new Carbon Farming Initiative (CFI) methodology.
The methodology has been approved under the CFI and could be transitioned for use under the Emissions Reduction Fund once established.
This is a new way for farmers and landholders to generate income through changed management that enables the regeneration of forests.
The new methodology gives Australian farmers and land managers have a new opportunity to contribute to action on climate change and diversify their income by regenerating native forests.
The methodology for 'Native Forest from Managed Regrowth' allows farmers and land managers who have historically cleared their land for pastoral use to earn carbon credits by managing regrowth to regenerate native forests.
Regenerating forests is a simple and practical way in which Australia's farmers can help address climate change while improving our unique landscape.
Farmers who set up projects using this methodology could sell their carbon credits to businesses wanting to offset their carbon emissions, or to businesses offering carbon neutral products or services, including those certified under the Government's National Carbon Offset Standard.
In addition to generating carbon credits, landholders and farmers will be able to enhance biodiversity on their land.
There are 22 methodology determinations available for landholders and farmers to establish projects and generate credits under the CFI. Nine of these cover projects to establish, regenerate or avoid clearing native forests.
CFI methodology determinations are available on the ComLaw website, and project applications can be made with the Clean Energy Regulator. Further information on the CFI is available at www.climatechange.gov.au/cfi.