What is Carbon Farming and the ERF?
The Emissions Reduction Fund (ERF) is an Australian Government voluntary offset scheme that provides an opportunity for farmers and land managers to earn additional income and achieve non-financial benefits by reducing greenhouse gas emissions. Changes to agricultural and land management practices (also known as carbon farming) can reduce emissions such as nitrous oxide and methane and store carbon in vegetation and soils.
The benefits of undertaking a project can include earning Australian Carbon Credit Units (ACCUs) which can be sold, as well as a range of other benefits, such as increased biodiversity, profitability and productivity.
Previously this scheme was known as the Carbon Farming Initiative (CFI) however the CFI has now been rolled into the Emissions Reduction Fund (ERF).
What benefits can Carbon Farming provide?
Farmer and Landholder Benefits
The generation of Carbon Credits (ACCUs) which can be sold to create additional income.
- Improved productivity
- Efficiency gains
- Better soil health and decreased salinity
- More efficient water use
Co-Benefits and Environmental Benefits
- Lower greenhouse gas emissions
- Healthier forests
- Cleaner waterways
- Better biodiversity
- Improved air quality
What are the Carbon Credits (ACCUs)
In some cases farmers and landholders undertaking ERF projects may be eligible to earn carbon credits known as Australian Carbon Credit Units or ACCUs. These credits can create an additional income stream when purchased by the Clean Energy Regulator at auction or to individuals and businesses that have a requirement to purchase credits or a need to offset the greenhouse gas emissions of their operations.
Some examples of projects types that can earn credits include; reducing planned land clearing, capturing methane from livestock and reducing emissions from wildfire.
There are new projects types being researched and approved regularly so subscribe to the newsletter or check back often to stay informed.
Lets Get Started
The next step is to find out what options you have to conduct Carbon Farming or participate in the Emissions Reduction Fund for your farm, business or industry type or how you can go about learning more or getting in touch with someone who can help.
If you have any questions regarding starting your plan, myCarbonFarming is happy to assist with your enquiry.Email Us