The need to act
Many countries are looking at ways to reduce their net greenhouse gas emissions. Soil carbon sequestration is seen as a potentially more cost-effective option than alternate methods for emission reductions. It may be possible to enhance storage of carbon in agricultural landscapes without forgoing the region’s primary production.
The aim of the Lachlan Soil Carbon Pilot Project is to examine the potential of developing soil carbon markets in part of the Cowra Trough area of the Lachlan Catchment Management Authority (CMA) to offset greenhouse gas emissions through soil carbon sequestration. As such, this pilot project aims to help reduce the carbon emissions from the agriculture sector and provide additional income to farmers through soil carbon markets.
How the Lachlan Soil Carbon Pilot Project works
This project has been developed by the NSW Department of Primary Industries, the NSW Office of Environment and Heritage and the Lachlan CMA. Initiated as a pilot project the Cowra Trough area in Lachlan CMA region, the pilot project began in June 2011. It is a competitive tender program where the farmers in the Cowra Trough area have the opportunity to bid for funding for their soil carbon sequestration activities. Bids are assessed according to the Soil Carbon Bid Price, which represents the amount of soil carbon sequestered per dollar sought.
Successful bidders will be offered a contract with Lachlan CMA. The contract requires participants to carry out agreed soil carbon sequestration actions and submit annual reports in return for scheduled payments.
Through the project, three types of contracts have been offered to farmers:
- action–based contracts—where farmers are paid for adopting a prescribed set of management actions that are known to increase soil carbon storage
- outcome-based contracts—where farmers are paid on the basis of the actual increase in the amount of carbon stored
- hybrid contracts—where farmers are paid partly for adopting a prescribed set of management actions and partly for the actual increase in the amount of carbon stored.
Outcomes
The Lachlan Soil Carbon Pilot Project provides long term opportunities for farmers to be involved in carbon sequestration. This project offers an opportunity for farmers to be recognised for their vital role in reducing carbon emissions and reaping additional income from soil carbon markets.
Find out more about the Lachlan Soil Carbon Pilot Project
www.lachlan.cma.nsw.gov.au/ourprojects/pages/soilcarbonpilot.aspx
Source
www.lachlan.cma.nsw.gov.au
The need to act
Many countries are looking at ways to reduce their net greenhouse gas emissions. Soil carbon sequestration is seen as a potentially more cost-effective option than alternate methods for emission reductions. It may be possible to enhance storage of carbon in agricultural landscapes without forgoing the region’s primary production.
The aim of the Lachlan Soil Carbon Pilot Project is to examine the potential of developing soil carbon markets in part of the Cowra Trough area of the Lachlan Catchment Management Authority (CMA) to offset greenhouse gas emissions through soil carbon sequestration. As such, this pilot project aims to help reduce the carbon emissions from the agriculture sector and provide additional income to farmers through soil carbon markets.
How the Lachlan Soil Carbon Pilot Project works
This project has been developed by the NSW Department of Primary Industries, the NSW Office of Environment and Heritage and the Lachlan CMA. Initiated as a pilot project the Cowra Trough area in Lachlan CMA region, the pilot project began in June 2011. It is a competitive tender program where the farmers in the Cowra Trough area have the opportunity to bid for funding for their soil carbon sequestration activities. Bids are assessed according to the Soil Carbon Bid Price, which represents the amount of soil carbon sequestered per dollar sought.
Successful bidders will be offered a contract with Lachlan CMA. The contract requires participants to carry out agreed soil carbon sequestration actions and submit annual reports in return for scheduled payments.
Through the project, three types of contracts have been offered to farmers:
- action–based contracts—where farmers are paid for adopting a prescribed set of management actions that are known to increase soil carbon storage
- outcome-based contracts—where farmers are paid on the basis of the actual increase in the amount of carbon stored
- hybrid contracts—where farmers are paid partly for adopting a prescribed set of management actions and partly for the actual increase in the amount of carbon stored.
Outcomes
The Lachlan Soil Carbon Pilot Project provides long term opportunities for farmers to be involved in carbon sequestration. This project offers an opportunity for farmers to be recognised for their vital role in reducing carbon emissions and reaping additional income from soil carbon markets.
Find out more about the Lachlan Soil Carbon Pilot Project
www.lachlan.cma.nsw.gov.au/ourprojects/pages/soilcarbonpilot.aspx
Source
www.lachlan.cma.nsw.gov.au