Carbon Farming Futures

Carbon Farming Futures will provide $429 million over six years to ensure that advances in emissions reduction technologies and techniques will continue the evolution of management practices in the land sector towards emissions reduction and improved productivity. These advances will allow farmers and other landholders to benefit from the economic opportunities of the Carbon Farming Initiative (CFI) while assisting Australia in achieving its long-term emission reduction targets and comprises five elements:

  1. Filling the Research Gap ($201 million over six years) to fund research into new technologies and practices for land managers to reduce emissions and store soil carbon. It also includes a national survey to identify common practice for application for activities in the CFI. Administered by the Department of Agriculture, Forestry and Fisheries.
  2. Developing estimation methodologies ($20 million over six years) to convert research, including outcomes from the Filling the Research Gap, into estimation methodologies for use in the CFI. You can register your interest in receiving email updates about converting research into methodologies and the other land sector measures by emailing the Department of Climate Change and Energy Efficiency CFI—cfi@climatechange.gov.au.
  3. Action on the Ground ($99 million over six years) to assist industry and farming groups test and apply research outcomes in real farming situations. Administered by the Department of Agriculture, Forestry and Fisheries.
  4. Refundable Tax Offset (over three years) to provide 15 per cent Refundable Tax Offsets for new eligible conservation tillage equipment installed between 1 July 2012 and 30 June 2015.
  5. Extension and Outreach ($64 million over six years) to provide information, support and an extension network to help farmers take action on the land. Administered by the Department of Agriculture, Forestry and Fisheries.