AgriFutures Australia has unveiled a $2 million carbon initiative designed to investigate carbon management challenges. It will explore innovative products, practices and technologies that have the ability to improve carbon storage and reduce greenhouse gas emissions (GHGE) in Australia’s agricultural sector.
The initiative is calling for research proposals that has the potential for long-term high impact and will provide benefits for farmers, fishers and foresters across six investment areas.
These areas focus on topics such as innovative carbon storage, GHGE reduction and avoidance solutions, models for carbon market engagement, market development opportunities, project partnerships, novel approaches to carbon farming co-benefits, and producer opportunities in the agricultural value-chain.
The $2 million grant is result of a gap analysis that identified issues in current engagement levels within carbon markets as well as changes that need to occur and recommendations on who needs to be involved in future research investments.
Jennifer Medway, AgriFutures Australia senior manager said the initiative aims to complement existing carbon projects within the agriculture industry and also support the transition of research across to other industries.
“Rural industries have a crucial role to play in reducing greenhouse gases and meeting reduction targets under the Paris Agreement,” said Medway.
Producers currently face challenges in engaging in the carbon market including government policy uncertainty, audit costs, legal and commercial risks as well as shifting consumer and retailer expectations, to name a few.
“There are more deals to be made and more benefits to be gained from engaging in carbon markets – we just need to know how to find them,” said Medway.
Submissions close 5pm AEDT Tuesday, 30 March 2021.
To find out more follow the link.