The Land Restoration Fund
The Land Restoration Fund (LRF) is growing the carbon farming industry in Queensland by supporting premium land sector carbon farming projects that deliver Australian Carbon Credit Units (ACCUs) plus priority environmental, socio-economic, and First Nations co-benefits.
The LRF has two purposes:
- invest in carbon farming projects that deliver additional co-benefits
- broaden the scope of carbon farming in Queensland with investments in research, development and innovation.
Across the first two investment rounds, the LRF has committed $82.1 million for 20 projects that deliver strong community and environmental outcomes. The outcomes expected as verified co-benefits from LRF investment in Queensland-based carbon projects include:
- delivery of more than 1.15 million ACCUs over the next
16 years, equivalent to more than one million tonnes of carbon dioxide sequestered or avoided - voluntary restoration or protection of over 13,000 hectares of unregulated (Category X) vegetation as defined under the Vegetation Management Act 1999
- direct benefits for threatened species and ecosystems
- direct benefits for the health of the Great Barrier Reef and wetlands.
The LRF has diversified its portfolio by investing $45 million to establish the Queensland Natural Capital Fund (QNCF). The fund aims to facilitate private sector co-investment in land asset acquisitions that generate returns from commercial agricultural activities and environmental markets while producing positive environmental, social and economic co-benefits for Queensland.
In addition, the LRF invests in research and innovation to grow the carbon market and other environmental markets that benefit Queensland’s environment. Examples of this investment include:
- supporting the uptake of blue carbon projects
- the development of new biodiversity credit mechanisms, such as the Cassowary Credit.