On Monday the Sunset Ranch Native Forest Protection Project in Western NSW was declared eligible under the Carbon Farming Initiative (CFI) by the Australian government.
Subscribe now for unlimited access.
or signup to continue reading
The project is the first of its kind on leasehold land in Australia.
The project protects approximately 8500 hectares of native forest that has been approved for clearing by the NSW government including significant areas of native forest and fauna habitat.
The forest is now protected for a minimum of 100 years.
The Sunset Ranch project is being jointly developed by Climate Friendly, South Pole Carbon and Carbon Farmers of Australia.
“The ongoing drought has made it very tough for farmers in western NSW.
“Combining carbon projects with existing farming practices has provided an extra
revenue stream for farmers in the region allowing them to keep farming and at the same time protect the environment,” Climate Friendly CEO Freddy Sharpe explained.
The Sunset Ranch project is unique because the property is located on leasehold land.
In order to be declared eligible, the NSW Minister for Primary Industries, Ms Katrina Hodgkinson, MP was required to provide consent to the project going ahead.
This is the first project endorsed by the Minister for Primary Industries and subsequently approved by the federal government.
“Farmers are always looking for enterprise diversity, and this project proves that carbon trading and emissions reductions can be good business for farmers and Regional Australia, keeping core enterprises profitable,” Carbon Farmers of Australia director Louisa Kiely said.
In order to be declared eligible, the project was rigorously assessed by the Clean Energy Regulator and received consent from the landowner’s bank.
