Saturday, August 14, 2010
Labor to launch carbon credit scheme for farmers
The Federal Government will today outline a plan to help farmers earn money for selling carbon credits on the international market.
It estimates the scheme could earn farmers up to $500 million over the next 10 years.
Climate Change Minister Penny Wong says the Government would set rules to determine what types of greenhouse gas abatement can be rewarded with carbon credits.
"The most obvious one is planting trees; reforestation has been a long-standing approach to trying to store carbon and there are a lot of opportunities in Australia," she said.
"But we want to develop a whole range of methodologies, we want to make sure that farmers can have the opportunity to look at soil carbon, to look at manure management."
The Government would also provide funds to Landcare so its volunteers can educate farmers on how to earn credits.
The initiative is expected to cost about $46 million.