The Carbon Market Institute (CMI) has recognised Queensland as Australia’s best carbon farming State for the second year in a row after the State received a score of 83% in CMI’s Carbon Farming Scorecard.
According to the Palaszczuk Government, the result highlights its $500 million Land Restoration Fund (LRF), strong policy initiatives and ongoing partnerships with key stakeholders, all of which are protecting Queensland’s environment while creating new jobs through the growth of carbon farming.
The Land Restoration Fund’s recently launched third investment round will see a further $50 million invested into carbon farming projects, which are expected to provide additional environmental co-benefits to the State.
The new projects under the investment round will support the 22 projects the State Government has already invested more than $100 million into since the introduction of the LRF.
Minister for the Environment and the Great Barrier Reef Leanne Linard said the result recognises the steps the State Government has taken to become more proactive about its investments, enabling investors to make more confident decisions.
“Since the 2022 report card was released, we have increased the amount of data available to the market about each LRF project and each investment round to uphold and improve the carbon market’s integrity and transparency,” Minister Linard added.
The Minister noted that the State Government is committed to supporting carbon farming initiatives as they help address climate change and provide economic, social and cultural benefits.
