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Robust accounting key for successful farm carbon and biodiversity markets

The Nature Conservation Council welcomes the NSW Government’s $125 million Primary Industries Productivity and Abatement Program. [1] 

“The farm sector has an enormous role to play in tackling the climate and extinction crises,” NCC Chief Executive Chris Gambian said. 

“The Primary Industries Productivity and Abatement Program seeks to set the foundations for what will one day become a very significant market in carbon and biodiversity credits. 

“It is critical that those entering the market for these relatively new tradable credits have faith in the units they are buying and selling. 

“It makes sense, therefore, that almost half of the $125 million the government has allocated to PIPAP will be spent on creating solid market and industry foundations, including reliable, transparent data. 

“One of the challenges will be attracting traders to what is a relatively new market, at least until the market is large enough to sustain itself. 

“Many primary producers have never traded in the carbon and biodiversity before, so there needs to be an education campaign and possibly financial incentives to entice new participants. 

“We need to do whatever we can to tackle the twin climate and biodiversity crises. We need to put aside rigid ideologies and be prepared to try new approaches. Sometimes that will require stronger regulation. Sometimes that will mean using market mechanisms.  

“Let’s end the phony war between farmers and conservationists. You can’t spend generations in the bush if you don’t love it.  Many farmers are passionate about the flora and fauna in their care. As a community, we should support their efforts any way we can — we all win when they do well. 

“We are keen to work with government and farmers to this end.” 


[1] $125 million investment to drive farms of the future, NSW Government media release, 19-3-22

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