Carbon farming pioneer urges property owners to register projects
Farmers utilising modern management techniques might be missing out on remuneration for carbon storage. They are urged to register with the Clean Energy Regulator to receive benefits.
With carbon farming set to generate over half a billion dollars for farmers in the central west of NSW over the next ten years, an increasing number of landholders are looking to get involved.
Carbon Farmers of Australia Director, Louisa Kiely, works with farmers to register their carbon farming projects.
She says now is the time to register projects and capitalize on future industry growth.
“Farmers are business people. The current price of carbon is $10 to $12 per unit, but in the next 10 years it could rise to $20, $30 or even $40 dollars per unit. It makes business sense to get started now in order to be able to take part in that.”
Farmers are already implementing many approved carbon farming methodologies, such as clearing avoidance, forest regeneration and improvements to crop and stock rotations with the aim of increasing soil carbon.
While they may enjoy the productivity benefits without registering a project, farmers must register with the Clean Energy Regulator in order to be remunerated for future carbon storage.
“If they improve their soils over the next five years but they don’t put it in into a project, they can’t be paid for it because they can’t prove what they’ve done” Louisa explains.
“The absolute first thing you need to do is get a baseline carbon reading. It’s reasonably easy to register a project without any obligations for delivery. The Clean Energy Regulator does not charge for registering a project.”
The carbon farming industry is expected to grow exponentially due to population growth, climate change and increasing food and soil security pressures.
While the Carbon Farming initiative is currently better suited to larger properties in marginal areas, advancements in the development of methodologies, carbon measurements and the initiative’s overall delivery mean that carbon farming will soon become a viable option for much smaller farms.
Any farmers making improvements to stock, land or vegetation management may be eligible for remuneration under the carbon farming initiative.
If you would like further information, visit the Carbon Farmers of Australia Website and the Clean Energy Regulator Website.
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