The Carbon Market Institute’s (CMI) inaugural Carbon Farming Scorecard presents the most comprehensive analysis to-date of Australia’s carbon farming policy frameworks. The report found that while Australia has strong frameworks able to foster a world-leading industry, there is a need for greater policy ambition & leadership, as well as an ongoing focus on integrity and stronger alignment with private finance.
The policies and resources made available by the Queensland government, in particular, acknowledge the significant role carbon farming can play in achieving state emissions reduction commitments . Whilst all other jurisdictions make reference to this potential, their support for carbon farming is not as comprehensive based on the criteria considered, although this is a snapshot in time, and is evolving in all cases.
With a stronger framework, Australia’s carbon farming sector has an opportunity to play a key role in driving down emissions, supporting climate repair and resilience, driving innovation, investment, and generating jobs, revenues and other co-benefits for communities across the country.