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Australian Carbon Farming Initiative Legislation passes through House of Representatives
The Australian House of Representatives has passed the Carbon Farming Initiative (CFI) legislation. The Carbon Credits (Carbon Farming Initiative) Bill 2011 legislation will now be considered by the Senate where it appears likely that the legislation will pass with the support of the Greens party.
The Carbon Farming Initiative will help facilitate the sale of carbon credits on domestic and international markets, opening up new income streams for farmers and landholders across regional Australia. It will allow government backing for tradeable ‘credits’ from Australian land-based actions that reduce or store carbon pollution and meet approved methodologies.
The CFI is a step towards the government’s proposed carbon price legislation that will follow later this year. The CFI is proposed to commence on 1 July 2011.
Citola Carbon Farming Initiative Products
Citola provides client access to a long-term, fixed price provision of carbon offsets (Australian Carbon Credit Units - ACCUs) eligible in the Australian Carbon Farming Initiative (CFI) and subsequent carbon price legislation.
Excerpts of the press release is embedded below:
GILLARD GOVERNMENT’S CARBON FARMING INITIATIVE A WIN FOR FARMERS
The Minister for Climate Change and Energy Efficiency, Greg Combet, welcomed the passage of the Carbon Credits (Carbon Farming Initiative) Bill 2011 through the House of Representatives today, describing it as a win for farmers, a win for Indigenous Australia and a win for the environment.
The Carbon Farming Initiative is a key part of the Gillard Government’s climate change agenda. Under the Initiative, the Federal Government will help facilitate the sale of carbon credits on domestic and international markets, opening up new income streams for farmers and landholders across regional Australia.
Mr Combet said the Bill passed the House of Representatives today with support from the crossbenches, despite a bizarre eleventh hour decision by the Opposition to oppose the legislation.
“This is an important step towards delivering a carbon offset scheme in Australia. We will now work to secure this Bill’s passage through the Senate so that farmers and landholders can start reaping financial rewards from acting to tackle climate change,” Mr Combet said.
“We’ve consulted widely on developing this Initiative, with farmers, with Indigenous groups, with business and industry, and today’s vote is recognition of that work and the significant benefits this Initiative will bring to our economy and to our environment”.
The Government will now work to secure the passage of the Carbon Credits (Carbon Farming Initiative) Bill 2011 through the Senate to enable the Carbon Farming Initiative to commence later this year.
The passing of this bill
The passing of this bill through the lower house represents one of the most dangerous pieces of legislation threatening future food security.For over 200 years Australian farmers have been driven by economic supply demand/ indicators for the enterprise selection on their farms.Food and fiber production that have dominated private land use can now be geared towards carbon sink farming.The cyclical nature of commodity price fluctuations will now be replaced with forestry and set aside that cannot be easily return to food production .
The government has made a massive mistake and more importantly the cross benchers which I assume include Oakshot and Winsdor have supported a change in their electorate landscape from a pastoral one to a bushland that will force the closure of many rural townships reliant on farming for food.
Very positive for the
Very positive for the domestic carbon markets in Australia
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