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    Minister for Environment and Heritage Protection and Minister for National Parks and the Great Barrier Reef
    The Honourable Steven Miles

    Carbon farming could be worth $8 billion to Queensland by 2030

    Minister for Environment and Heritage Protection and Minister for National Parks and the Great Barrier Reef
    The Honourable Steven Miles

    Wednesday, October 25, 2017

    Carbon farming could be worth $8 billion to Queensland by 2030

    Queensland’s emerging carbon farming industry could generate billions of dollars for our economy by 2030, according to a new report released today.

    The report Unlocking value for the Queensland economy with land and agriculture offsets identifies the estimated value of carbon farming in Queensland under current settings is $4.7 billion.

    But with the right policy settings, the sector could be worth up to $8 billion in 13 years.

    Environment Minister Steven Miles said more Queenslanders could get a slice of the carbon market economy.

    “This report shows the Queensland economy could be a big winner under a stronger framework for carbon farming, with the potential to generate up to $8 billion by 2030,” Mr Miles said.

    “This confirms there is a big opportunity for the carbon market in Queensland and this government wants to lead the way.

    “In some cases, carbon farming can be an alternative to land clearing and a new source of revenue for land owners to boost family incomes.”

    Mr Miles said a new methodology was being developed that would place a value on the social and cultural benefits indigenous communities derive from participating in carbon farming projects.

    “These are benefits that flow from Traditional Owners being able to take independent ownership of sustainable economic development on their country.

    “The Palaszczuk Government is committed to expanding carbon farming in Queensland.

    “It is a commitment in our Climate Transition Strategy to stimulate demand for offsets and it will play a key role in reducing Queensland’s carbon emissions.

    “And Queensland is perfectly positioned to be a leader in emerging domestic and international carbon markers, with our vast land mass and natural assets.

    “We are unlocking the potential for more Queenslanders to diversity their income through carbon farming.

    “We have already invested $8.4 million in the CarbonPlus Fund to develop the carbon farming market, with $5 million to purchase government offsets.

    “Carbon farming involves generating carbon offsets or credits through practices such as vegetation, land, animal, and fire management such as savanna burning.

    The next step is the development of an industry roadmap, which will create a path forwards for Queensland, and for Australia more broadly to grow this emerging industry.

    To view the report visit: https://www.qld.gov.au/environment/climate/carbon-farming

    ENDS

    Media contact: Katharine Wright 0422 580 342