Burnett grazier sells first carbon credits under QLD Government Land Restoration Fund
Central Queensland graziers Nadia and Robert Campbell of Goondicum Station have today sold the first-ever credits under the Queensland Government’s flagship Land Restoration Fund (LRF). Part of this first delivery of Australian Carbon Credit Units (ACCUs) has been sold to the Queensland Government with further purchases confirmed for the next 10 years.
The project was developed in partnership with GreenCollar on the Campbell’s property at the head of the Burnett River and has already sequestered more than 35,000 tonnes of carbon, with a forecast to capture more than 165,000 tonnes over the next 25 years.
Goondicum Station was one of the first projects to be registered under the Land Restoration Fund, which continues to be a cornerstone of the Queensland Government’s Climate Action Plan. In addition to carbon sequestration, the project delivers significant biodiversity benefits improving habitat for threatened flora and fauna, including endangered glossy black cockatoos, greater gliders, koalas and brush-tailed rock wallabies.
The project also generates investment in the regional economy with the project partners committing to spend with local businesses on material, contractors and supplies to support the project.
GreenCollar Chief Operating Officer Nerida Bradley said the project is producing the type of high-integrity, premium credits that can be rewarded with healthy returns under the LRF scheme:
“The LRF is a leading example of valuing and rewarding farmers for the additional benefits generated from carbon projects. On Nadia and Rob’s place, the carbon project is specifically designed to deliver biodiversity improvements for important endangered species and support local investment and job creation,” she said.
“By choosing to work with GreenCollar, Queensland farmers like Nadia and Robert are taking the lead and now being paid for it. With the Queensland Government’s latest $25 Million round of LRF funding, there is a real opportunity for Queensland farmers to continue to lead and remain the ‘gold standard’ for carbon projects across the country, demonstrating the tangible value of biodiversity improvements alongside carbon abatement and sequestration.”
Nadia Campbell, Goondicum Pastoral Company said:
“The beauty of our carbon project and working with the LRF is that they’re not two mutually exclusive things when it comes to integrating with our beef production. They co-exist, and we’re actually seeing an improved environment for our cattle because of the project.”
“A better-quality environment means less overheads for us in terms of land management, and we’re seeing those rewards by improving canopy coverage and regenerating large areas of forest,” she said.
GreenCollar develops nature-based carbon projects in partnership with landholders and facilitates the sale of the resulting credits to private and public organisations. Projects are designed to operate alongside grazing and other agricultural production, building greater productivity, more sustainable production, and improved terms of trade for Queenslanders by diversifying project risk and helping landholders to better manage fluctuating commodity prices.
Queensland farmers can learn more about the LRF and how to apply in the second investment round here.