The State Government has provided in-principle backing for Western Australian pastoralists wanting to unlock the carbon potential of their lands.
The Government will back a number of pilot sequestration offset projects by pastoralists, which focus on grazing strategies that increase regeneration of native vegetation and in the process extract carbon dioxide from the atmosphere.
These projects not only sequester carbon, but will aid the regeneration of the pastoral lands.
Projects will also need to meet a range of eligibility criteria and relevant State and Commonwealth legislative requirements, including consistency with the terms of the pastoral lease and impacts on mining.
In-principle support for eligible projects will allow pastoralists to register under the Commonwealth’s $2.55 billion Emissions Reduction Fund, and the option to take part in its upcoming reverse auction.
The Government will then consider eligible projects over the next 12 months, after which a final determination will be made on the provision of interest holder consent, which is required under the Emissions Reduction Fund.
For more details, including the eligibility criteria, visit http://www.agric.wa.gov.au/carbonfarmingpotential