The Carbon Market Institute has released its latest carbon farming scorecard report, revealing gains but mixed results across Australia’s states and territories.
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The Carbon Market Institute has released its second annual carbon farming scorecard report, which it produced with KPMG, revealing big gains in the sunshine state, Western Australia, NSW and South Australia.
Overall, Australia’s carbon farming efforts firmed by eight points to 78 per cent, with the report citing the federal government’s target of slashing greenhouse gas emissions by 45 per cent from 2005 levels by 2030 “setting the tone”.
Carbon farming refers to managing land or agricultural practices to maximise the amount of carbon stored – typically through restoring native vegetation – or minimising the greenhouse gases emitted from livestock. Such activities can be used to create Australian Carbon Credit Units and generate additional income for farmers.
Despite the gains, Carbon Market Institute chief executive John Connor said the report revealed “major differences” in the level and nature of support for carbon farming among the states and territories. Mr Connor urged the federal government to adopt the Climate Change Authority’s recommendation for the development of a wide-ranging national carbon market strategy, which he said “should cover both emissions avoidance and reductions, as well as incorporating a carbon removals target”.
“The results demonstrate a growing recognition of the potential contribution of carbon farming to national emission avoidance and removal activities. However, for many jurisdictions, this is yet to be adequately reflected at the scale required,” Mr Connor said.
“Importantly, more work must also be done to better integrate and realise the indigenous, social, environmental and economic co-benefits of carbon farming for local communities.
“This will require adequate resourcing to support the key stakeholders involved in their engagement with the industry, whether it’s farming, Indigenous or conservation landholders, and in doing so ensure appropriate requirements for free, prior and informed consent from native title interests.”
The Carbon Market Institute has released its second annual carbon farming scorecard report, which it produced with KPMG, revealing big gains in Queensland, Western Australia, NSW and South Australia. Picture: Zoe Phillips
Queensland, with a score of 82 per cent, maintained its spot as Australia’s carbon farming capital after its government injected a further $50m in its Land Restoration Fund to support carbon reduction and abatement projects.
About 80 per cent of Queensland’s land is used for agriculture. The sector plays a key role in meeting the state’s target of slashing greenhouse gas emissions by 30 per cent by 2030 and achieving net zero by 2050.
“While it still has room for improvement in areas such as markets and policy integration and enabling private investment, it was awarded an improved score in 2022 for the announcement of its third round of funding for the landmark Land Restoration Fund,” the report states.
Queensland farmers Anita and Robert Todd said their land in the state’s southwest had never looked better after partnering with Climate Friendly in 2020. Their Munda Munda regeneration project covers more than 24,000ha of acacia-wooded grassland.
“Munda Munda’s livestock includes sheep and domesticated goats. As a result of the project, the land managers have reduced stocking rates and taken measures to manage feral animals, which has reduced grazing pressure and suppression of the vegetation growth,” the report said.
“With a regular income resulting from carbon credits earned from the project, alongside their other operations, the owners have been able to invest in fencing, which also helps to control the movements of feral goats and pigs that destroy vegetation.
“As the vegetation continues to grow, the land managers say they have never seen their country look better, while they have also noticed the return of a diverse ecosystem of native flora and fauna to the property.”
NSW scored 71 per cent, up seven points, elevating it from intermediate to advanced category. Western Australia added eight to 53 per cent, South Australia rose seven to 56, Victoria was up five to 41, while Tasmania scored 37 and NT 32.
“This reflected its work in communicating and integrating carbon opportunities into the emerging natural capital market, as well as quantifying carbon farming co-benefits,” the report found.
“Several initiatives underpinned the state’s progress, including its Primary Industries Productivity and Abatement Program, Natural Capital Statement of Intent, Carbon Farming Opportunities spatial mapping tool and Blue Carbon Strategy 2022-2027.”