A Queensland scheme is paying a hefty premium for carbon credits that have environmental co-benefits, and farmers have shown plenty of interest in a similar federal program.
With South Australian government backing, The Nature Conservancy is examining ways to make wetlands restoration financially viable, partly by earning ERF carbon credits, and by establishing a 'blue carbon' insurance fund.
A new pilot program will enable farmers who plant native species to generate dual income streams in recognition of the biodiversity and carbon abatement benefits.
Carbon offsets company CO2 Australia has emerged as the biggest winner in round one of Queensland's Land Restoration Fund, receiving $33.63 million out of $91 million awarded.
A global nature and carbon alliance that includes BHP, BP, Chevron and Woodside today suggested the Australian government underpin a new public-private fund investing in regional projects.
Carbon abatement from projects with major environmental and social benefits will be purchased at more than twice the ERF auction price, under contracts being negotiated by the Queensland government.