An opinion article in Climate Spectator today says the Carbon Farming Initiative (CFI )will offset between 5 and 39 million tonnes of greenhouse gas emissions per year by 2020, with a total annual value of between $75 million and $585 million (assuming a conservative carbon price of $A15 per tonne).
The upper end of this estimate is around 30 per cent more than what the Australian government spends annually on natural resource management and landscape restoration through the Caring for our Country Program. Even the lower end estimates would be a welcome and much needed boost, the piece says.
It also says that “Australian farmers and environmentalists aren’t always the most comfortable bedfellows, but most would agree that significant new funding will be needed to deal with the many environmental and natural resource challenges facing rural Australia.
For the full article, click here.