The Emissions Reduction Fund is the centrepiece of the Australian Government’s policy suite to reduce emissions. The fund will provide incentives for emissions reduction activities across the Australian economy.
The Carbon Farming Initiative Amendment Bill 2014 was passed by the Senate on 31 October 2014 and the House of Representatives on 24 November 2014. Legislative rules and amendments are yet to be completed and once finalised, will be administered by the Clean Energy Regulator.
Though policy is still being finalised, Reef Catchments is seeking to work with land managers interested in changing land management practices to potentially receive carbon payments.
“Reef Catchments is exploring opportunities to aggregate emission reduction activities across the region, taking a coordinated approach to ensure land managers receive the best advice and carbon payment options,” said Robyn Bell, Reef Catchments climate coordinator.
“To receive carbon payments an activity that is reducing emissions / or sequestering carbon must use an approved methodology. “
Approved methodologies to date under the existing Carbon Farming Initiative that are relevant to the local region include:
- Reducing Greenhouse Gas (GHG) emissions in beef cattle through feeding nitrate containing supplements
- Sequestering carbon in soils in grazing systems
Vegetation (regrowth, reforestation, avoided clearing and avoided harvest)
- Environmental Plantings
- Human-induced regeneration of a permanent even-aged native forest
- Measurement based methods for new farm forestry plantations
- Native forest from managed regrowth
- Native forest protection (avoided deforestation)
- Reforestation and afforestation (the establishment of a forest or stand of trees in an area where there was no forest)